The Oswals $1.5b case against ANZ

THE MAMMOTH OSWAL CIVIL TRIAL:

WHO ARE THE OSWALS?

* Indian glamour couple Pankaj and Radhika Oswal

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

* Left Australia December 2010

* Now based in Dubai

* Their controversial "Taj Mahal on the Swan River" mansion in Perth remains unfinished

WHAT IS THEIR LEGAL CASE OVER?

* Oswals together owned 65 pct of Burrup companies

* ANZ made demands on personal guarantees given by Oswals

* ANZ appointed receivers over their shares and Burrup Fertilisers in December 2010

* Oswals' shares sold for $US560m in January 2012

* They say it was undervalued by $US800m

WHAT HAPPENED TO THE COMPANY?

* Yara lifted its stake in Burrup Holdings to 51 pct

* Apache Energy acquired remaining 49 pct

* Burrup Holdings now known as Yara Pilbara Holdings

WHAT'S INVOLVED IN THE LEGAL ACTION?

* Oswals against ANZ and the receivers, seeking $1.5-2.5b in damages

* Yara action against Mr Oswal

* Involves a dozen different parties

* Biggest trial in Victorian Supreme Court history

* Expected to last 3-6 months

* About 50 barristers and solicitors involved

* Opening arguments began Monday and to last three weeks

* Number of other cases, including over ATO's $186m judgment against Mrs Oswal.