The Government of Nauru says it is now able to move forward with planned economic and infrastructure changes as it looks towards a bright 2016.
The government issued a statement in response to the decision in the Federal Court of Australia to dismiss an appeal by US hedge fund Firebird.
High Court judges in Canberra late last week ruled that Nauru’s Westpac accounts could not be garnisheed as they held the operational funds of the nation and are not used for commercial purposes.
Nauru’s Finance Minister David Adeang says resolution to the long-running case now brings clarity and peace of mind to all Nauruans.
“We were always confident the judgement would be in our favour but at the same time, there is relief that we are now free to focus on the issues that matter to Nauruans, without the uncertainty.”
“As committed Christians we feel God has been watching over Nauru and helping the nation move forward.”
Adeang says Nauruans are enjoying a period of economic sustainability with public servants the recent recipients of an eight per cent pay rise and employment at an all-time high.
The Finance Minister paid tribute to the Government’s legal team both in Nauru and Australia who have worked assiduously on the case for more than 12 months.
“On behalf of all of Nauru, we wish to thank the legal team headed by Robert Dick SC, Darrell Barnett and Naomi Oreb of Banco Chambers who acted as counsel while John Lobban and Meredith Bennett of Brisbane’s Ashurst Lawyers briefed counsel.