Updated
Clive Palmer has lost a bid to have criminal charges, which were brought against him by the Australian Securities and Investments Commission, thrown out of court.
Key points
- ASIC charged Mr Palmer last year saying he breached the Corporations Act
- It relates to a failed takeover bid of timeshare villas at his Coolum resort in 2012
- Mr Palmer claims the proceedings are an attempt to make him ineligible from running in the federal election
The businessman claimed the charges against him and his company, Palmer Leisure Coolum, over a failed takeover bid of timeshare villas in 2012 were “doomed to fail”, an “abuse of process”, and “not in the public interest”.
ASIC alleged Mr Palmer breached the Corporations Act but the former federal-MP tried to fight the charges in the Supreme Court in Brisbane.
Justice Soraya Ryan said the Supreme Court would not intervene in the case.
“The authorities make it plain that the administration of the criminal law should be left to the criminal courts and that it is only rarely and in truly exceptional circumstances that this court should intervene,” Justice Ryan said.
“I found nothing exceptional in this case.”
In his statement of claim, Mr Palmer said the unreasonable delay in the commencement of the Commonwealth proceedings against him was “unfairly burdensome, harassing and oppressive” and the case would be “unfairly prejudiced” as a result.
“Since at least 12 April 2012, ASIC knew, or ought to have known, of PLC’s proposed bid to make an offer to purchase shares,” the claim said.
“More than six years will have passed since the circumstances giving rise to the alleged offences and by the time any trial is held in the Commonwealth Proceedings.”
In the court documents, Mr Palmer claimed the charges were an attempt to make him ineligible from running in the upcoming federal election.
Topics:
qld,
First posted
from Trend Gossip Now http://bit.ly/2U4s05Y
0 Comments