High Court Remits Austral Coal 02(R) Proceedings to Federal Court

The Panel announces that the High Court of Australia today remitted the application by Glencore International AG and Fornax Investments Limited for a review of the Panel's decision in the Austral Coal 02(R) proceedings to the Federal Court of Australia.

The High Court has also granted a stay until further order of the Panel's Restoration Orders. The Panel neither consented to nor opposed the application for a stay of the Panel's Restoration Orders.

Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501