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Clive Palmer Wrote False Entries in Notebook - Report

Metal News - Published on Thu, 18 Jul 2019

Image Source: ABC NET
ABC NET reported that Billionaire Clive Palmer allegedly faked entries in a green notebook in a bid to justify draining Queensland Nickel of millions of dollars for anything he wanted before it collapsed in 2016, a Brisbane court has been told. Lawyers for a team of liquidators trying to claw back $200 million have said they had evidence of the alleged ruse at the trial, which opened in the Supreme Court in Brisbane on Tuesday.

In his opening address, barrister Shane Doyle who is acting for Commonwealth-appointed liquidators trying to recover AUD 66 million in entitlements for almost 800 sacked workers, said many of Mr Palmer's handwritten entries "can be shown to be false".

Mr Doyle said that "If real, they would extend the [Queensland Nickel] joint venture to really anything that might be the wishes of Mr Palmer.” He told the court this would include making and forgiving loans, investing in other Palmer-owned companies, making political donations to Mr Palmer's party, and to "support" him in any other way he may require.

Mr Doyle said Mr Palmer had only revealed the existence of the notebook and its "professed" changes to the rules of the nickel venture weeks before he was to be grilled in Federal Court hearings.

Mr Palmer had claimed the only other person who knew of it was his nephew and Queensland Nickel general manager Clive Mensink, who is now overseas as "a fugitive from an Australian warrant", Mr Doyle said.

Mr Doyle told the hearing Mr Palmer knew the company was going into administration, workers would be laid off and other people's jobs were on the line when he put two of his other companies to the front of the creditors queue, claiming secured interests of up to AUD 230 million.

Mr Doyle said if those moves were valid, employees and trade creditors would have "no chance" of payment.

Mr Doyle said Mr Palmer was "unprepared to support" the company as it approached collapse but appealed for government bailouts, with documents produced by Queensland Nickel warning its demise would cost Townsville 2,396 jobs and the federal government $130 million in social security payments.

Mr Palmer has denied any wrongdoing or that he or his companies are liable for Queensland Nickel's debts.

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Posted By : Amom Remju on Thu, 18 Jul 2019
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