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US investor warns of sovereign risk after NuCoal loss

An American institutional investor has warned that it is unlikely to ever again invest in Australia because the NSW government expropriated its assets and has refused to pay compensation. Boston-based Sparta Group, which manages a global investment portfolio, is one of a group of US shareholders in Australian company NuCoal ...

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Asset Seizure by NSW Infuriates Americans

American institutions are considering launching international arbitration proceedings against Australia because the government of former NSW premier Barry O’Farrell expropriated US assets worth $120 million. The US institutions, which had major shareholdings in listed mining company NuCoal Resources, were among the main losers last year when the O’Farrell government cancelled ...

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ICAC Won’t Lift Suppression for Parliamentary Oversight

The Independent Commission Against Corruption has refused to lift a suppression order over key documents from three completed inquiries because it believes it is not in the public interest for a committee of the NSW parliament to know what they contain. The suppression order, under section 112 of the ICAC ...

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ICAC’s Failings are Caused by its Alien Structure

One of the enduring criticisms of the NSW justice system has been its failure to secure criminal convictions against those who have already been processed by the Independent Commission Against Corruption. It’s a problem that is easily fixed. After ICAC’s catastrophic pursuit of prosecutor Margaret Cunneen SC, it is becoming ...

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NuCoal Innocent says ICAC, But Still No Compensation

With a determination handed down by Justice Stephen Rothman only last week, the Court found that ICAC acted in accordance with its common law duties, however, it also made statements that bring into question Parliament’s actions in cancelling NuCoal’s exploration license with NO compensation. The Court made clear statements about ...

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Former Mining Minister Calls for Judicial Inquiry into State’s Anti-corruption Commission

Former NSW mining minister Ian Macdonald has called for a judicial inquiry into the state’s anticorruption commission after obtaining confidential transcripts in which witnesses, including Labor frontbencher Anthony Albanese , gave evidence in his favour that was never made public . The transcripts were made during private compulsory examinations when ...

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Nick Greiner, the only other premier to resign over ICAC- ABC April 2014

ELEANOR HALL: And just finally Mr Greiner, given that it’s only really managed to claim two Liberal premier scalps, do you ever regret setting up the ICAC? NICK GREINER: No I don’t Eleanor and I don’t really… I mean I understand whenever these things happen people argue about some of ...

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ICAC: Cascade Coal director McGuigan pans ‘totally unfair’ processes

  Cascade Coal director John McGuigan has slammed the process that led to the company being stripped of its mining licences, saying a report on the NSW Independent Commission Against Corruption this week demonstrated the “totally unfair nature” of its treatment. Mr McGuigan, a former executive chairman of global law ...

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Mike Baird’s ICAC reform: painful process of restoring state’s standing begins

Mike Baird’s decision to reform his anticorruption commission is just the beginning. It means the NSW Premier has started the painful process of restoring his state’s standing as a bastion of the rule of law. The Independent Commission Against Corruption will continue to have an important role. But the reform ...

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