Judgment by the High Court of Australia in
Rinehart & Anor v Hancock Prospecting Pty Ltd & Ors
The High Court’s reasons were delivered this morning and relate to issues concerning numerous deeds entered into between Hancock Prospecting Pty Ltd, Bianca Rinehart and John Hancock. The relevant deeds were repeatedly executed.
The Court’s determination, which upholds the decision of the Full Court of the Federal Court of Australia, confirms that issues raised in the proceeding commenced by Ms Rinehart and Mr Hancock against Hancock Prospecting and others will now be resolved by confidential arbitration, as called for under the Deeds, instead of putting further pressure on the resources of the courts.
The position taken by Hancock Prospecting throughout this litigation, to act in accord with deeds it has entered, has been vindicated. The litigation was commenced in October 2014.