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4h ago

PCA Dismisses Clive Palmer’s Investor-State Claim, Orders $13.6 Million Payment

The tribunal said it had no jurisdiction over a claim brought through a Singapore entity by an Australian national.

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Overview

  • Australia’s Attorney-General said the Permanent Court of Arbitration found it lacked jurisdiction to hear the dispute with Palmer.
  • The tribunal ordered Palmer’s company, Zeph Investments, to pay AU$13.6 million to cover the Commonwealth’s legal costs.
  • Zeph, based in Singapore, alleged breaches of the ASEAN–Australia–New Zealand trade agreement over a blocked Pilbara iron ore project and sought almost US$200 billion.
  • The case stemmed from Western Australia’s 2020 law preventing damages over the Balmoral South project, a measure upheld by the High Court in 2021.
  • Federal and WA leaders welcomed the ruling, while Palmer’s office said he will review options that could include a challenge at Switzerland’s Federal Supreme Court.