By Quinton Alomp – EM TV News, Port Moresby
Opposition leader, Don Polye said he will file two fresh legal challenges against the government and Prime Minister, Peter O’Neill.
The cases will be in relation to the controversial UBS loan of $1.2 billion to buy a 10.1 per cent stake in PNG’s leading oil exploration company, Oil Search, and the impending sovereign bond deal.
“I will file a fresh affidavit disclosing new evidence to the courts as an extension to my existing court proceeding OS142 of 2014 (CC2) to have the courts declare the UBS deal as an illegal transaction and a corrupt act.
“I will also pursue criminal charges against O’Neill for unlawfully concluding this (UBS) transaction,” Polye said.
The opposition leader told journalists yesterday in a media conference that he will seek legal advice this week before proceeding with the cases.
Polye also raised serious questions relating to the proposed National Executive Council’s policy to create a sovereign bond.
Already financiers and bankers around the world are showing interest in the sovereign bond, which Polye claimed is contradictory to the Umbrella Benefits Sharing Agreement (UBSA) signed in Kokopo in 2009.
The opposition leader said he will pursue this sovereign bond deal in court as well.
“And I will continue to fight this battle in courts” he said.
Last week, former State Enterprise Minister, Arthur Somare, spoke out against the UBS loan. His father, Sir Michael, and colleague, Sir Mekere Morauta, urged the government to make public the terms of condition and benefits of the controversial loan.