A three-judge panel at the Federal Court has rejected an appeal by Indian businessman Pankaj Oswal after he was denied full access to books and other records at Burrup Fertilisers.
Mr Oswal was allowed to view some records when he originally applied for access in March 2011, but was denied access to others.
The appeal finalised yesterday was to get access to these remaining documents, which were created by the receivers and managers after the company was put into receivership in late 2010.
Mr Oswal has long claimed that the receivers and managers were undermining the company's plant by failing to run it properly.
He said he wanted to protect his interests as a shareholder by getting access to documents that would reveal how the plant was being operated, and also the negotiations taking place between potential purchasers and the receivers and managers.
The ruling yesterday by judges John Dowsett, Lindsay Foster and John Nicholas upheld the earlier decision that forcing the receivers to provide the information could unfairly interfere with their duties.