The Government of the Republic of Nauru

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Nauru wins appeal in Firebird case

His Excellency President Baron Waqa delivered the positive news to the Nauru public this afternoon (23 Oct) in relation to Nauru's win in the Firebird court case that was before the Court of Appeal of New South Wales (NSW) Australia this month.
 
President Waqa spoke in Nauruan to a live television and radio audience announcing the decision in the case against U.S based company Firebird Global Master Fund.
 
As a result of the court decision, Nauru is now able to access its bank accounts held with the Westpac Banking Corporation in Australia.
 
However, President Waqa cautions that while Nauru has won the appeal today, it is not the end, adding that Firebird can take the case  against Nauru for $30-million in bond repayments further to the High Court of Australia.
 
His Excellency reiterated the government's assurance that the best interests of Nauru will be protected in relation to Firebird and other financial interests.
 
Last month (September) Firebird was successful in obtaining a freeze of Nauru's Australian bank accounts.  The Government then immediately hired lawyers in Australia to lift the freeze and after a four day trial, before the Supreme Court of NSW, the ruling was decided in favour of Nauru, on Friday 3 October and the Court ordered that the judgment against Nauru should be set aside. 
 
As a result, the bank freeze order was lifted on 3 October. However, Firebird then immediately filed an appeal against the decision of the Supreme Court of NSW resulting in the bank freeze remaining in place until today's (23 Oct) decision.
 
The President likened today's successful outcome to a different kind of  Angam Angam Day, 26 October, is a national event in the Nauru calendar observed as a public holiday in commemoration of a time in Nauru's history of struggle for survival in the face of war, hunger and disease, and of reaching a population count of 1500 that would ensure the survival of the Nauruan race.
 
President Waqa made a further announcement that pending salaries for government employees will be paid in full on Friday 24 October, hence settling all remaining balances owed to past and present public servants.
 
In conclusion the President encouraged a nation of peace and once again offered thanks for the prayers of individuals and church groups.