AQC Appeals Court Decision on Statutory Demand
Key points
- Court of Appeal allowed M Resources' appeal
- Orders of Supreme Court set aside
- AQC to pay M Resources' costs of appeal and original proceeding
- Company reviewing judgment and implications
Full summary
Australian Pacific Coal Limited (ASX: AQC) has been informed by the Queensland Court of Appeal that the decision of the Supreme Court of Queensland to set aside a statutory demand issued by M Resources Trading Pty Ltd has been overturned. The Court of Appeal allowed M Resources' appeal, setting aside the Supreme Court's orders, dismissing AQC's originating application, and ordering AQC to pay M Resources' costs of the original proceeding and the appeal. AQC is currently reviewing the judgment and its implications and will provide a further update to the market as appropriate.
Outlook
AQC is reviewing the judgment and its implications and will provide a further update to the market as appropriate.
Summary generated by a large language model. Please interpret with care.