Western Australia's move to shut down Clive Palmer's damages claim over a stalled iron ore project could expose the Commonwealth to a compensation claim worth billions, according to leading commercial arbitrators.
They warn that if the emergency legislation survives a High Court challenge, Mr Palmer could seek an investor-state treaty arbitration because the billionaire's companies are domiciled in Singapore and Australia has a free trade agreement with the Asian state.
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Michael Pelly is the legal editor, based in our Sydney newsroom. He has been a senior adviser to federal and state attorneys-general and written two books, one a biography of former High Court Chief Justice Murray Gleeson. Email Michael at michael.pelly@afr.com
Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
