29 Oct 2014

Firebird again appeals Nauru case

9:52 pm on 29 October 2014

A US-fund management company has signaled it will seek an appeal after an Australian court dismissed its claim against the Nauru Government.

Firebird Global Master Fund has been trying to recover 27 million US dollars owed by Nauru in government bonds issued in the late 1980s.

The Nauru government's accounts in Australia remain frozen subject to the outcome of the claim.

Earlier this month the Nauru government won a court challenge to the freeze on its accounts, saying as a sovereign nation it was immune and Firebird appealed that decision.

That appeal was dismissed and Firebird has now filed an application for special leave to appeal to the High Court.

The Nauru government had earlier warned its services, including those for asylum seekers, would be affected without access to the money which includes aid funds from both Australia and New Zealand.