High Court challenge to Snowy Hydro sale


Farmers, sporting clubs, tour operators and conservation groups were expected to join a $2 billion High Court challenge to the sale of Snowy Hydro, reported The Australian (29/5/2006, p.7).

A diverse range of stakeholders responded to Victorian independent MP Craig Ingram’s call to join a legal bid to derail the $3 billion sale and seek compensation for environmental damage in the Snowy Valley.

Challenge to reach High Court: Barrister Stephen Howells, who would spearhead the challenge, said he expected to be able to file proceedings in the High Court in the next few weeks, ahead of the expected sale in July.

Investors beware: He said the court action could halt the sale or render it invalid if it was allowed to proceed, creating a potential nightmare for investors and the NSW, Victorian and Commonwealth governments, which are selling their stakes in the project.

The Australian, 29/5/2006, p. 7

Source: Erisk Net  

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