ASF is under negotiations with the Queensland government over a failed Gold Coast development and threatened to commence legal action against it.
Australia.- A US$2.37 billion project that was set to be developed by Chinese-backed firm ASF at the Gold Coast in Australia but was terminated by Queensland Premier Annastacia Palaszczuk in August. However, ASF is currently under negotiations over the development fail and has threatened to commence legal action against the government if they don’t succeed.
Louis Chien, ASF Consortium’s director, explained last Tuesday that they seek to reach a more equitable conclusion to the integrated resort development process and warned: “If negotiations do not progress in a timely and fair manner, ASF will be left with no alternative than to commence legal action.”
According to Mr Chien, the government dropped the project just to win votes on the Gold Coast, while Ms Palaszczuk argues that the development would have meant increased rates and taxes for locals to fund transport solutions.
Last Tuesday, acting Premier Curtis Pitt said State Development Minister Anthony Lynham met with the firm’s representatives but refused to either confirm or deny if ASF is entitled to compensation.
“It’s not surprising that there is some commentary from ASF that they are looking at considering at taking legal action,” he said and added: “ASF are entitled to make their case to the government.”