These potential international actions are being progressed with a view to obtaining compensation from the Australian government for the decision by the NSW government not to pay compensation after making the decision.
Some FTAs allow the plaintiff (NuCoal shareholders who reside in the relevant jurisdictions outside Australia) to bring an action without needing the consent of the Australian government while other FTAs require the consent of both the government of the investor’s home country and the Australian government before an action can proceed.
“As previously communicated, shareholders should note that any successful actions under an FTA will benefit only the shareholders who bring and participate in the actions,” NuCoal said in its latest quarterly report.
