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Liquidators move to seize financial records from Queensland Nickel

Metal News - Published on Mon, 04 Dec 2017

Image Source: abc.net
ABC NET reported that liquidators probing the collapse of Queensland Nickel will be able enter to enter Clive Palmer's company offices and seize financial documents if they are not handed over by this Wednesday. Justice John Reeves made the order in the Federal Court in Brisbane, after businessman Clive Palmer missed a court imposed November 30 deadline to provide the information. Mr Palmer has also been ordered to attend the Federal Court on December 7.

Earlier, lawyers for liquidators FTI Consulting threatened to launch contempt proceedings against Mr Palmer for not providing the material, and failing to show up for a scheduled court appearance on Thursday.

The liquidators said they would not instigate contempt proceedings if Mr Palmer attended court and provided the documents.

Mr Palmer's lawyer Andrew Boe said his client was not aware he had to personally attend court. He said that "He will come back immediately if he's ordered to do so.”

Justice Reeves said it appeared Mr Palmer had not shown "reasonable cause" for his non-attendance.

Mr Palmer is currently in Western Australia.

Queensland Nickel collapsed with debts of about AUD 300 million leaving 800 workers at its Yabulu refinery in Townsville in north Queensland out of work.

While Mr Palmer was not a director when Queensland Nickel collapsed, liquidators claim he was secretly running the company and using its funds to bankroll other businesses and his now-defunct political party.

Source :

Posted By : Nanda Koijam on Mon, 04 Dec 2017
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