Snippet reported today in the AFR:"United States energy giant...

Snippet reported today in the AFR:

"United States energy giant Apache Energy has emerged as a frontrunner to buy the controlling stake in the fertiliser empire formerly controlled by the controversial Oswal family.
Sources close to the process said ¬yesterday the family’s legal team had been briefed to block Apache’s progress in the bidding process, as 65?per cent of Burrup Fertilisers remained up for grabs.
The blocking action comes one year after Pankaj Oswal lost control of the West Australian company, after allegedly siphoning hundreds of millions of dollars out of it for personal use.
An Apache spokesman declined to comment.
Financier ANZ enlisted receivers PPB Advisory to recover more than $800 million in debt from the Indian tycoon, largely through a sale of his stake in the fertiliser company. Legal uncertainty over whether receivers can sell all of Mr Oswal’s wife, Radhika Oswal’s 35?per cent stake in the company is crucial to the blocking move.
(Mr Oswal’s 30 per cent stake is in the hands of receivers and Norwegian company Yara controls the remaining 35 per cent).
Apache is the only bidder, with ¬certainty around long-term gas supply prices crucial to Burrup’s factory because it is part of a joint venture that supplies the gas.
There is a price dispute now between the parties in the courts.
Yara retains pre-emptive rights to buy the Oswal family stake, which means it could either match Apache’s bid, or cut a deal with the energy giant.
Rival Burrup bidders include Wesfarmers, Orica, Incitec Pivot, China’s Sinofert and Egypt -listed Orascom."