Trial date set for ASIC claim against Forrest
Posted
A trial date has been set for the corporate watchdog's claim against Australia's richest man and his company, Fortescue Metals Group.
The Australian Securities and Investments Commission (ASIC) believes Andrew Forrest and Fortescue misled investors by claiming it had a binding contract with a Chinese company to build and finance a railway, port and mine before its Pilbara operations were built in 2004.
A five-week trial is set down for April next year.
If ASIC wins the case it wants Mr Forrest to pay Fortescue's fines of more than $3 million.
It is also calling for him to be disqualified from running any company.
