Oz justice throws out suit
Hadid to appeal the decision
Hadid, who had won Australia's satellite licenses and then sold them to Lenfest who then sold them to Australis in 1993, filed suit against Lenfest, Bain Capital Markets and Australis, seeking compensatory and exemplary damages, alleging deceit, conspiracy and break of fiduciary duty.
During the 10-month trial, Australis went bankrupt.
Handing down a 500-page judgment, the justice ruled that Hadid must pay court costs, which reportedly run up to millions of dollars. Hadid said he would appeal the decision.
