Clive Palmer’s multibillion dollar claims make a mockery of a tribunal that allows foreign investors to challenge court decisions | Patricia Ranald
The billionaire's last three cases are part of a growing global list from fossil fuel companies against government decisions to reduce carbon emissions
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Despite the Australian billionaire Clive Palmer's self-proclaimed patriotism through the Trumpet of Patriots party, he has registered his mining company, Zeph Investments, in Singapore and claimed to be a Singaporean investor. He then used foreign investor rights in two trade agreements with Singapore to sue the Australian government for a total of about $420bn in four separate cases before an international investment tribunal.
Palmer's first claim was for $300bn after he lost a high court appeal against a Western Australian government decision to refuse an iron ore mining licence. The last three claims for a total of $120bn are because a Queensland court refused his coal mining licence and a licence for a coal-fired power plant for environmental reasons, including increased carbon emissions.
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