to manage the mine. O'Neill considered that a mistake and revoked the immunity. One concern was that proceeds from the mine were disappearing abroad instead of staying within PNG. This is connected to a political rivalry with former Prime Minister Morauta, whose political base is in that part of the country. Morauta, as chairman of PNGSDF, challenged the nationalisation without compensation and refused access to the externalised PNGSDF in Singapore which is meant as a Social Wealth Fund for when the mine is exhausted. The case is continuing in the Singaporean courts. The government has gained the right to inspect the books of PNGSDP as it is a shareholder, but the issue of ownership is still undecided. An arbitration attempt in Singapore failed as there was no written consent to arbitration from the PNG government. Morauta brought a case before the courts in PNG as well. However, the Supreme Court decided that Morauta had no standing as a private person to bring the case and the court was also not admissible as the case was before a court in a foreign jurisdiction. However Morauta won in Singapore. It was a disappointment for O'Neill that the Singaporean High Court decided against his claim on PNGSDP. He immediately announced an appeal and a Commission of Enquiry. Controversies surround the unwinding of the affairs of PNGSDF's affairs within PNG under control of the government. PNGSDF owned the Cloudy Bay timber company. This involved extensive logging rights. This company has been sold far below its value to investors who are not above suspicion. Greg Sheppard, a lawyer close to O'Neill has been charged with defrauding a trust fund established to aid communities impacted by the OkTedi mine. These charges also imply money laundering. Sheppard denies and considers the case politically motivated. However, the public prosecutor has followed up the case with more charges. UBS/Oil Search He also faced an alleged disregard for regulatory control and political procedure in arranging a loan from the Swiss banking firm UBS, to obtain shares in Oil Search. The intention of this loan was to become a part shareholder in the group developing the Elk Antelope Oil Field. O'Neill ignored such procedures in obtaining this loan. Don Polye, his Minister for Treasury, refused to sign. O'Neill then appointed himself as Minister for Treasury. These issues led to an investigation by the Ombudsman Commission who recommended to bring O'Neill before