Project Sea Dragon - Case Update

The Federal Court has extended the stay of its decision rejecting the Project Sea Dragon DOCA pending appeal, meaning the $2 billion Northern Territory prawn project owned by Seafarms Group will avoid being wound up, at least for the time being. The stay is subject to Seafarms Group covering the costs of trading and paying $185,000 as security for Canstruct’s costs of the appeal.

Read the decision here.