Cleanaway (ASX:CWY) share price lifts on 'critical' court win

Cleanaway has won a crucial court case, sparking a rise in its share price.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Cleanaway Waste Management Ltd (ASX: CWY) share price finished the day slightly higher after the High Court dismissed a challenge to its Melbourne regional landfill works approval.

By market close, the Cleanaway share price was trading 0.36% higher at $2.78, adding to a 50% yearly return.

The company has been under fire by the Brimbank Council and Ravenhall residents over contaminated soil and garbage odour stemming from its waste plant.

It has been a long legal stoush for Cleanaway. Let's look at what the decision means for the waste management and recycling station company.

Cleanaway's court case

Australia's High Court today dismissed a legal challenge against approval for Cleanaway to extend its waste management station, Melbourne Regional Landfill, in Ravenhall, Victoria.

In June 2017, the Planning Minister for Victoria issued planning approval for the extension that would continue Cleanaway's licence to operate the facility until 2046. The company also required works approvals to expand the facility.

Cleanaway has now faced and won legal challenges in the High Court, Court of Appeal and Supreme Court. Today's decision was the last of these court cases.

The company also faced a higher-profile legal battle over its planned acquisition of French waste company Suez's Australian operations. That deal eventually collapsed.

Cleanaway management comments

Chief operating officer Brendan Gill welcomed the decision:

Cleanaway welcomes the High Court decision today, confirming that the Melbourne Regional Landfill can continue to provide an essential waste service for the community well into the future.

Securing the continued long‐term operations at the site supports our Footprint 2025 Strategy. The site is a waste management hub of state importance that provides critical waste management services, including for
residual waste streams that cannot be recycled.

Cleanaway share price snapshot

The Cleanaway share price has been subject to a balancing act from investors over the past 12 months. Despite rocky news reports, the company's record results have largely led market sentiment.

Cleanaway shares are up 19% this year-to-date and 12.9% this month. It has also beaten the industrials sector by 45% over the past year.

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Two workers at an oil rig discuss operations.
Broker Notes

Should you buy Santos, Beach Energy or Woodside shares? Here's Macquarie's top pick

Macquarie has released its new share price expectations for Santos, Beach Energy and Woodside shares.

Read more »

A green fully charged battery symbol surrounded by green charge lights representing the surging Vulcan share price today
Share Market News

Up 300% in 6 months! This soaring ASX lithium stock just took a major step to production

Marching forward.

Read more »

An old-fashioned panel of judges each holding a card with the number 10
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy end to the trading week this Friday.

Read more »

Broker written in white with a man drawing a yellow underline.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Share Market News

Macquarie says this top ASX tech stock could rise 15%

Let's see what the broker is saying about this stock.

Read more »

Excited couple celebrating success while looking at smartphone.
Healthcare Shares

Up 680% since July, here's why 2025 was a breakout year for this hot ASX stock

With consistent contract wins, FDA clearance, and backing from Pro Medicus, 4D Medical is showing that there is a commercial…

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Collins Foods, Monash IVF, Premier Investments, and Step One shares are tumbling today

These shares are ending the week in the red. But why?

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

4 ASX 200 stocks smashing the benchmark this week

Investors have been piling into these four ASX 200 stocks this week. Let’s see why.

Read more »