Exploring domestic and international options for
settlement
The New South Wales Court of Appeal has dismissed an
appeal by Power Rental Op Co Australia (OpCo) against a decision by
the New South Wales Supreme Court which held that the interest in
millions of dollars' worth of wind turbines vested in Forge
Group Power Pty Ltd (Forge) upon it entering administration due to
the operation of the Personal Property Securities Act 2009
(Cth) (PPSA).1
This article considers what steps are now available to OpCo or
its parent company, APR Energy PLS (APR), including pathways to
investor-state arbitration against the Commonwealth of
Australia.
Background
Forge entered into an agreement to lease four mobile gas
turbines from General Electric International Inc. (GE) for a
fixed-term period. In October 2013, APR bought the business that
leased the turbines to Forge. As a consequence, the lease and title
of the turbines were subsequently assigned to the two US
subsidiaries
