Anew Climate LLC v Terra Global Capital Pty Ltd; Anew Climate LLC v National Australia Bank

COURT OR TRIBUNAL

Supreme Court of Victoria

DATE FILED (OR FIRST HEARING DATE)

12/05/2023

LITIGATION TYPE

Corporate Accountability

SUBJECT MATTER

Carbon credits and offsets

REVIEW TYPE

N/A

SUMMARY

According to media reports from Lawyerly, on 12 May 2023, Anew Climate LLC (owned by TPG) filed an application for an interim freezing order against Terra Global Capital Pty Ltd (impersonating US a carbon offset developer, Terra Global Capital LLC) in the Supreme Court of Victoria.

Anew allege that a false email address by Terra Global Capital Pty Ltd to unlawfully receive payments under a $968 million investment deal. An interim injunction was granted by Justice Sloss, as well as an order to NAB to hand over information about an account holder who received a $29 million transfer. The claim is for unjust enrichment (but noting that investigators in the US are looking into fraud allegations). Anew have applied for default judgment.

The cases are Anew Climate LLC v Terra Global Capital Pty Ltd (S ECI 2023 02075) and Anew Climate LLC v National Australia Bank (S ECI 2023 02000).

CASE DOCUMENTS

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