23 Oct 2014

Nauru regains access to bank accounts

8:29 pm on 23 October 2014

Nauru will be given back access of its bank accounts after Australian courts dismissed an appeal by an American investment fund.

Sally Round reports

"Firebird Global Investment Fund was trying to recover 27 million US dollars owed by Nauru, for defaulting on government bonds. The decision by the New South Wales Court of Appeal means Nauru will have access to its Westpac bank accounts in Australia which had earlier been frozen after being subject to a garnishee order. The Nauru Government had warned its services including those for asylum seekers would be affected without access to the money."