Clive Palmer's Queensland Nickel should be liquidated, administrators tell creditors
8 years, 11 months ago

Clive Palmer's Queensland Nickel should be liquidated, administrators tell creditors

ABC  

Clive Palmer's Townsville refinery could have survived the drop in nickel prices if millions of dollars had not been shifted from it to the federal MP's other businesses, administrators say. Key points: Creditors to vote on whether to liquidate Queensland Nickel, after administrators recommend it Company owes about $74 million to sacked workers Report says vintage cars were bought using QN bank account, which was never repaid FTI Consulting pointed to a possible breach of fiduciary and common law duties by a director or officer of the company and criticised Mr Palmer and his nephew and former QN director Clive Mensink for being "reckless". "Our observations indicate Mr Palmer, a former director of the company, appears to have acted as a shadow/de facto director of QN at all material times from February 2012 up to the date of our appointment on 18 January 2016," the report said. A total of $21.5 million of the company's money went to the Palmer United Party since 2013, causing "detriment" to QN and creditors. A vintage Bayard car at Clive Palmer's Coolum museum While QN had intended to use it for its headquarters, it was then sold to Mr Palmer in 2013 for $7.9 million, the report said.

History of this topic

Clive Palmer's company tips another $1.7 million into his party's Queensland election campaign
4 years, 5 months ago
Clive Palmer's nickel refinery business insolvent before administrators took over, court rules
4 years, 9 months ago
Clive Palmer settles with biggest creditor in $200m Queensland Nickel lawsuit
5 years, 7 months ago
Clive Palmer paid $1 for Queensland Nickel before its collapse, liquidator tells court
5 years, 7 months ago
Former Queensland Nickel worker complains to ATO after payout results in tax debt
5 years, 7 months ago
Clive Palmer wrote 'false' entries in notebook to justify cash from Queensland Nickel
5 years, 8 months ago
Clive Palmer contradicts himself over payments for workers at collapsed Queensland Nickel refinery
5 years, 10 months ago
Clive Palmer threatens to sue Australian taxpayers for $45b as he re-routes business through NZ
6 years, 2 months ago
Clive Palmer calls for Government support to reopen Townsville nickel refinery but Premier says no
6 years, 8 months ago
Clive Palmer says Queensland Nickel refinery in Townsville set to reopen
6 years, 9 months ago
Clive Palmer warns Nickel refinery will not reopen if his assets are frozen
7 years, 1 month ago
Clive Palmer approved $170m in payments from Queensland Nickel to himself, family, documents reveal
7 years, 2 months ago
Clive Palmer fronts Queensland Nickel hearings in better spirits after days of complaints
7 years, 10 months ago
Clive Palmer decries 'Nazi Germany'-style court proceeding over Queensland Nickel collapse
7 years, 10 months ago
Clive Palmer testifies on nephew's disappearance, 'has memory loss due to morphine'
7 years, 10 months ago
Queensland Nickel liquidators launch $106 million lawsuit against Clive Palmer's company Mineralogy
7 years, 11 months ago
Queensland Nickel ex-director Clive Mensink misses court
8 years, 1 month ago
Clive Palmer defends conversation with nephew Clive Mensink during Queensland Nickel case
8 years, 1 month ago
Clive Palmer 'can't remember payments of $15m' made by his mining empire, court hears
8 years, 1 month ago
Clive Palmer to testify in court over Queensland Nickel's demise
8 years, 1 month ago
Clive Palmer's plans for new open-cut mine outrage sacked Queensland Nickel workers
8 years, 2 months ago
Queensland Nickel ordered to hand over stack of financial files to liquidators
8 years, 3 months ago
Clive Palmer loses High Court bid to stop Queensland Nickel questioning
8 years, 4 months ago
Clive Palmer loses bid to halt Queensland Nickel examination in Federal Court
8 years, 6 months ago
Clive Palmer seeks High Court injunction to halt questioning over Queensland Nickel collapse
8 years, 6 months ago
Clive Palmer's security clashes with media after Queensland Nickel collapse court hearing
8 years, 6 months ago
Former Queensland Nickel executive invoiced company for other work done for Clive Palmer
8 years, 6 months ago
Queensland Nickel refused finance by banks before collapse, Federal Court hears
8 years, 6 months ago
Clive Palmer had active role in Queensland Nickel finances despite quitting as director, court hears
8 years, 6 months ago
Clive Palmer says he won't appear at Queensland Nickel Federal Court hearing
8 years, 9 months ago
Clive Palmer's Queensland Nickel to be investigated by special purpose liquidator, court rules
8 years, 10 months ago
Clive Palmer to sue Queensland Nickel administrators FTI Consulting for $1.2 billion
8 years, 10 months ago
Queensland Nickel workers to get medical checks from state after Clive Palmer refuses, government says
8 years, 10 months ago
Clive Palmer's Queensland Nickel creditors vote to liquidate debt-laden company
8 years, 11 months ago
Clive Palmer's Queensland Nickel creditors meet over liquidation vote
8 years, 11 months ago
Queensland Nickel debts will probably not be paid, former director Clive Mensink tells court
8 years, 11 months ago
Clive Palmer commissions another audit into Queensland Nickel refinery
8 years, 11 months ago
There's a silver lining to Palmer and Queensland Nickel's downfall
8 years, 11 months ago
Clive Palmer says 'at no time' did he take money out of Queensland Nickel
8 years, 11 months ago
Queensland Nickel: Ewen Jones brought to tears as Federal Government announces help for former workers
8 years, 11 months ago
Clive Palmer: Government to chase refinery owner for $74m owed to Queensland Nickel workers
8 years, 11 months ago
Clive Palmer says it is cheaper to save Queensland Nickel than shut it down
8 years, 11 months ago
Clive Palmer says Joint Venture Agreement clears him of Queensland Nickel shadow director claim
8 years, 11 months ago
Queensland Nickel: What next if Clive Palmer's company goes into liquidation?
8 years, 11 months ago
Queensland Nickel liquidation could see taxpayers fund payouts, Employment Minister says
8 years, 11 months ago
Clive Palmer labels damning Queensland Nickel report 'lies and fantasy'
8 years, 11 months ago
Clive Palmer denies being Queensland Nickel shadow director, says he has nothing to hide
8 years, 11 months ago
Clive Palmer
8 years, 11 months ago
Clive Palmer had final say on millions spent at Queensland Nickel refinery, documents reveal
8 years, 11 months ago

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