Nauru welcomes high court ruling
Following the decision in the Federal Court of Australia
to dismiss an appeal by US hedge fund Firebird, the Government of
Nauru is now able to move forward with planned economic and
infrastructure changes as it looks towards a bright
2016.
High
Court judges in Canberra late last week ruledthat Nauru's Westpac accounts could not be garnisheed as
they held the operational funds of the nation and are not used for
commercial purposes.
Nauru's
Finance Minister David Adeang says resolution to the long-running
case now brings clarity and peace of mind to all
Nauruans.
"We
were always confident the judgement would be in our favour but at
the same time, there is relief that we are now free to focus on the
issues that matter to Nauruans, without the
uncertainty."
"As
committed Christians we feel God has been watching over Nauru and
helping the nation move forward."
Mr
Adeang says Nauruans are enjoying a period of economic
sustainability with public servants the recent recipients of an
eight per cent pay rise and employment at an all-time
high.
The
Finance Minister paid tribute to the Government's legal team both
in Nauru and Australia who have worked assiduously on the case for
more than 12 months.
"On
behalf of all of Nauru, we wish to thank the legal team headed by
Robert Dick SC, Darrell Barnett and Naomi Oreb of Banco Chambers
who acted as counsel while John Lobban and Meredith Bennett of
Brisbane's Ashurst Lawyers briefed counsel.