Photo: RNZ Pacific/ Koroi Hawkins
Papua New Guinea has lost a protracted battle to seize control of a PNG company registered in Singapore with assets worth about $US1.4 billion.
Singapore's Supreme Court ruled last week that the PNG government had "failed entirely" in its claim over the PNG Sustainable Development Program.
The programme was established in 2001 as a divestment vehicle for the PNG government and a major mining company.
But the state's oversight and control were diluted in 2012 and 2013, sparking its legal action against the company, BHP Minerals.
In his judgement, Justice Vinodh said there was no agreement or charitable trust that would share the company's assets with the government, as it has argued.
