23 May 2014

Polye takes UBS loan to PNG court

2:27 pm on 23 May 2014

The sacked Papua New Guinea treasurer, Don Polye, has gone to the Supreme Court to seek its opinion on the constitutionality of a controversial 1.1 billion US dollar loan from the Australian branch of the Swiss bank, UBS.

Mr Polye has hired a constitutional lawyer Loani Henao for the case.

Mr Henao says the Supreme Court application is to seek the Supreme Court's interpretation of section 209 of the Constitution and the Organic Law on the Sovereign Wealth Fund 2012.

He says he wants the court to probe the actions of the prime minister and the National Executive Council in borrowing the funds without parliamentary approval.