Glencore Loses Bid to Prevent Australian Tax Office Using 'Paradise Papers' Documents

Date : 08/14/2019 @ 4:21AM
Source : Dow Jones News
Stock : Glencore (PC) (GLNCY)
Quote : 5.43  0.102 (1.91%) @ 9:32PM

Glencore Loses Bid to Prevent Australian Tax Office Using 'Paradise Papers' Documents

Glencore (LSE:GLEN)
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By Rhiannon Hoyle

SYDNEY--Glencore PLC (GLEN.LN) has lost a bid to stop Australia's tax office from using documents that detail some of its offshore financial arrangements, as its case was dismissed by the country's high court on Wednesday.

Glencore sought an injunction to keep Australia's top tax officials from using documents stolen from Bermuda law-firm Appleby and provided to the International Consortium of Investigative Journalists. The documents were released as part of the so-called Paradise Papers, a collection of more than 13.4 million documents that detail the ways giant corporations, billionaires and celebrities move money through offshore tax havens to reduce their taxes.

"Glencore respects today's High Court decision," a spokesman for the company said in an emailed statement.

-- Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 
 

(END) Dow Jones Newswires

August 13, 2019 23:06 ET (03:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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