The ruling said the applicants could still pursue the substantive application from outside PNG.

He said the applicants had agreed to have a joint investigation "that they now seek to impugn".

He said the applicants were yet to decide on whether they would appeal the decision for the lower Ngaruroro and Clive.

The former banker, who declined to be named, said the applicants came from top-tier schools and that such practices were common across the industry.