Mammoth oswal anz case costing millions 20160617 p5ugmn.html – Breaking News & Latest Updates 2026
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Mammoth Oswal/ANZ case costing millions

AAP

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THE OSWALS' COSTLY LEGAL BATTLE WITH THE ANZ

WHO ARE THE OSWALS?

* Indian couple Pankaj and Radhika Oswal, lived in Perth, now in Dubai

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* Established Burrup companies to build and operate ammonia plant in WA

WHAT IS THE COURT CASE OVER?

* What happened to Burrup fertiliser business before and after ANZ appointed receivers in December 2010

* Oswals want up to $2.5b, saying their 65 pct of parent company Burrup Holdings was undervalued when sold for $US560m in January 2012

* Yara Pilbara Fertilisers claims Pankaj Oswal misappropriated $150m of company's money

HOW MUCH IS IT COSTING?

* $65m - what the Oswals say they've spent on legal proceedings over past five years

* $38m - what court documents show the Oswals incurred in costs by February 2016

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* $17m - ANZ and receivers legal costs by mid-2014

* $6.3m - what Oswals had to give in security to cover other parties' costs in case they lose

* About 40 lawyers in court on peak days

* Nine QCs/SCs

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* Costs set before earlier court hearing:

- $8200 per day - senior counsel

- $2700 to $5150 per day - junior counsel

- $350 to $US800 an hour - expert witness fees

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* $5.7m - ANZ/receivers' solicitors' bill for November 2014 to late February 2016

HOW LONG WILL IT LAST?

* Six months

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