Businessman Clive Palmer has lost two appeals against decisions made in Brisbane’s Magistrates Court.
The Supreme Court dismissed Mr Palmer’s three-pronged appeal against the Magistrates Court, the Commonwealth Director of Public Prosecutions and ASIC.
An appeal lodged by Palmer Leisure Coolum Pty Ltd against the same respondents was also dismissed – both with costs.
The appeals claimed charges brought against Mr Palmer and the company included abuse of process and the continuation of those proceedings would tend to bring the administration of justice into disrepute.
ASIC charged Mr Palmer in 2018 with breaches of the Corporations Act.
He was charged with breaching takeover law arising from a proposed takeover of The President’s Club Ltd.
Palmer Leisure Coolum, previously known as Queensland North Australia Pty Ltd, was also charged over the proposed takeover that dates back to 2012.
Mr Palmer claimed the charges were based on an incorrect construction of provisions of the Corporations Act 2001 and sought a permanent stay on the committal proceedings in the Magistrates Court.
The decision to dismiss the appeals was unanimous.
Justice Hugh Fraser wrote that there was “no reasonably arguable substance” that the committal proceedings should be permanently stayed.