16/01/2009 - 15:12

Western Areas chairman wins appeal

16/01/2009 - 15:12

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Western Areas Exploration Pty Ltd has been ordered by the Full Court of the Court of Appeal to pay for the appeal costs for Terry Streeter, chairman of unrelated company Western Areas, and his colleague.

Western Areas chairman wins appeal

Western Areas Exploration Pty Ltd has been ordered by the Full Court of the Court of Appeal to pay for the appeal costs for Terry Streeter, chairman of unrelated company Western Areas, and his colleague.

The court found in favour of Mr Streeter and David Cooper following an appeal heard last month after unsuccessful mediation talks in November.

WAE had applied to the court for an order requiring both Messrs Streeter and Cooper to pay for its mediation costs.

"Western Area Exploration's lawyers attempted to put before the Court affidavit evidence of the confidential exchanges which had taken place between the parties in the mediation," a statement from Mr Streeter said.

"The Supreme Court's Rules prohibit evidence of that kind being given, and [Justice] Master Sanderson refused to accept the affidavit evidence. Western Areas Exploration appealed from that decision to the Court of Appeal."

WAE, whose shareholders include Garry Connell, Lex Brailey and Guy LeClezio, has been ordered to pay for Mr Streeter's and Mr Cooper's cost of the appeal.

WAE is seeking a portion of the profits made by Mr Streeter and Mr Cooper after both were allegedly presented with a potential nickel opportunity by three geologists.

Its claimed that Mr Streeter and Mr Cooper, who were both on WAE's board at the time, pursued the nickel prospect to float Western Areas NL.

A trial date of March 23 has been set.

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