MANAGEMENT

Palmer says he will sue QN liquidator

CLIVE Palmer says he is preparing to sue Queensland Nickel Pty Ltd liquidator John Park and his firm FTI Consulting for $1.2 billion “in coming weeks”.

Noel Dyson
Clive Palmer says he will sue John Park and FTI Consulting for $1.2 billion.

Clive Palmer says he will sue John Park and FTI Consulting for $1.2 billion.

Palmer will allege Park and FTI have mishandled the administration of Queensland Nickel and illegally diverting Queensland Nickel Joint Venture funds and assets.

Park has previously called Queensland Nickel Palmer’s piggy bank, accusing Palmer of stripping it of money to fund his other business.

Causes of action in the proposed Palmer suit will include aiding and abetting a breach of trust and causing serious breaches of the Queensland nickel Joint Venture Agreement by Queensland Nickel.

Mining Monthly.com approached Park and FTI for comment but is yet to hear back.

One of Palmer’s allegations is that Park tried to oppose the federal government’s special purpose liquidator.

“Park has opposed the appointment of a special purpose liquidator by the Commonwealth to cover up his wrongdoing and has sought to convince the creditors’ committee of Queensland Nickel Pty Ltd to oppose it,” Palmer said.

“John Park has done this for one purpose only and that is to hide his criminal actions and diversion of joint venture funding from a new liquidator.

“In short, Park lied in his report as administrator to creditors including the Commonwealth.”

When Park announced on April 22 that Queensland Nickel would be put into liquidation he said the federal government’s decision to appoint a special purpose liquidator had been an unusual one.

He said he would be discussing with government officials how this special purpose liquidator would operate when he met with them.

Palmer called for the special purpose liquidator to start proceedings against Park to recover the worker entitlements caused by Park’s closing down of the refinery and sacking the workforce in breach of the Queensland Nickel Joint Venture Agreement.

He said the refinery would still have been operating if Park had not sacked everyone.

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