THE Attorney General’s Chambers yesterday concluded its arguments on the application by Gorstew Ltd for leave to challenge a magistrate’s decision to acquit three former Appliance Traders Ltd (ATL) executives in the billion-dollar pension fraud case.

Carlene Larmond, the director of litigation in the Attorney General’s Chambers, representing former Senior Corporate Area Resident Magistrate Lorna Shelly-Williams, whose decision Gorstew Ltd seeks to challenge, argued against the application.

Gorstew Ltd is seeking the court’s leave to challenge Shelly-Williams’ decision to uphold no-case submissions freeing Dr Jeffrey Pyne, Patrick Lynch, and Catherine Barber of fraud-related charges on June 3, 2014.

If the application is successful and Shelly-Williams’ decision is quashed, Gorstew will move to commence prosecution of the three for a second time.

The application before a panel of three judges was prompted after Justice Carol Lawrence Beswick last December refused an application for judicial review of Shelly-Williams’ decision.

On Tuesday, attorneys for Pyne, Lynch and Barber will make their submissions.

Gorstew had obtained a fiat from the director of public prosecutions to prosecute the three.

The former ATL executives were charged for allegedly fraudulently distributing $1.7 billion of pension surplus without the consent of Gorstew.