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Clive Palmer Asks for Queensland Nickel Liquidation Trial to be Aborted

Metal News - Published on Wed, 21 Aug 2019

Image Source: The Australian
The Australian reported that lawyers acting for Clive Palmer’s companies have tried to throw the Queensland Nickel liquidation trial out of court, putting a AUD 10 million bill racked up by liquidators at risk. Lawyers acting for Mr Palmer’s flagship company Mineralogy and his Waratah Coal and China First mining tenements claim the general purpose liquidator is continuing the proceeding only to recover money for its financial backer, which purchased some of the QNI debts from creditors.

The Queensland Supreme Court in Brisbane told general purpose liquidator FTI Consulting has accrued a AUD 10 million bill in the three years since the Townsville nickel and cobalt refinery went into administration. Barrister Chris Ward, representing Mr Palmer’s com­panies, said the case should be permanently stayed because the liquidators were pursuing claims solely for the financial benefit of Vannin Capital, which has funded the costly proceeding.

Dr Ward said his client had been blindsided by the liquidator’s revised statement of claim, which was altered last week after Mr Palmer reached a settlement with the government-appointed special purpose liquidators.

Dr Ward said that “What’s occurred in the last week beggars belief. (This case) is not about and has never been about a right for the general purpose liquidator to seek indemnity claims.”

Source :

Posted By : Amom Remju on Wed, 21 Aug 2019
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