Elliott says he took responsibility for reputational problems at the bank, but wants his contract honoured.
Similar action has been initiated in the New Zealand High Court.
Fortescue was an early-stage investor in Christchurch-based Fabrum.
The bond trading scandal has also spread to New Zealand, with the FMA looking at claims of market manipulation.
The bank now says inflation won’t be at the mid-point of its target range until 2026.
The ASX abandoned the project last year and took a A$176m writedown.
The former CEO is expected to still walk away with about A$12m.
The pensions giant offered ‘sustainable’ funds that included investment in fossil fuels, gambling, and alcohol.
The Australian dollar fell on the inflation data, suggesting the market is discounting chances of a rate rise next week.
Rex operated regional routes successfully for several decades, but an ambitious expansion on capital city routes has been a catalyst for failure.
