leadf
logo-loader
viewMacarthur Minerals Ltd

Macarthur Minerals welcomes dismissal of claim by High Court of Australia

The High Court’s refusal to grant the applicants special leave to appeal means that the longstanding proceedings, which were initiated in 2016, are finally at an end.

Macarthur Minerals Ltd - Macarthur Minerals welcomes High Court of Australia claim dismissal made against the company
Macarthur is primarily focused on developing the Lake Giles Iron Project

Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) (OTCMKTS:MMSDF) has welcomed the dismissal of a claim by the High Court of Australia made by Charles Chan, Victor Chan and Edward Kwok against the company.

The High Court’s refusal to grant the applicants special leave to appeal means that the longstanding proceedings which were initiated in 2016 are now finally at an end.

There is no further avenue of appeal available to the applicants.

“Unanimously determined in our favour”

Executive chairman Cameron McCall said: “These proceedings have been going on for many years and Macarthur and the other respondents to the proceedings are very pleased that the matter has finally and unanimously determined in our favour.

“Macarthur’s persistence in defending these actions has been vindicated.

“Macarthur looks forward to focusing all its attention on the important task ahead of delivering its flagship Lake Giles Iron Project.”

Excellent result 

The applicant’s original proceeding was dismissed by the primary judge in the Supreme Court of Queensland and on June 30 the Court of Appeal unanimously dismissed the applicant’s appeal against the original decision, ordering that the applicants pay the respondent’s costs.

In August, the applicants sought special leave from the High Court of Australia to appeal against the decision of the Court of Appeal.

The High Court saw no basis for it to grant such leave.

Macarthur believes this is an excellent result for the company and the other respondents who have consistently maintained that the proceedings were entirely without merit.

Quick facts: Macarthur Minerals Ltd

Price: 0.49 AUD

ASX:MIO
Market: ASX
Market Cap: $50.15 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Macarthur Minerals Ltd named herein, including the promotion by the Company of Macarthur Minerals Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Macarthur Minerals new route to market a key to company success

Macarthur Minerals Limited (CVE:MMS) (ASX:MIO) CEO Joe Phillips joined Steve Darling from Proactive to discuss the iron ore exploration company with projects in Western Australia. Phillips discusses where those projects are at and also about one of the biggest hurdles the company has now...

on 23/7/20

2 min read