Palmer Sues Administrators

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Clive Palmer is suing the administrators of his collapsed company Queensland Nickel, claiming they had “lied” in their report and were trying to cover up “wrong doing”.

The outgoing billionaire MP has accused FTI Consulting director John Park of shutting the refinery and sacking of workers.
“It was John Park who caused an unlawful breach of trust and contract disregarding the lawful rights of joint ventures to close the refinery and dismiss the workforce causing social upheaval to fill his own pockets,” Mr Palmer said on Tuesday.
“Park knows that if he acted in accordance with the law, the closure and dismissal of the workforce didn’t have to happen. Park and FTI need to be brought to account for their actions.”
“John Park and FTI have a serious conflict of interest. He should resign as liquidator of Queensland Nickel in favour of the Commonwealth government-nominated liquidator.”

Mr Palmer’s actions come at a time when the Commonwealth is applying to the federal court in Brisbane to appoint a special purpose liquidator who will chase down Palmer’s debts.

Mr Palmer appointed FTI Consulting as administrators in January but the relationship went off the rails after FTI Consulting issued final creditor’s report which found the Palmer may have acted as a shadow director of the company, siphoning off $200 million for other interests and possibly in breach of the Corporations Act.
FTI Consulting responded with a statement.

“These allegations are completely without foundation,” a spokesman said in the statement.

“We intend to strenuously defend these allegations from Mr Palmer, if he does in fact commence proceedings.
“We note that he recently commenced a court application against the Administrators which he withdrew only hours before the judgment was due to be delivered.

“Mr Palmer has an extensive track record of using legal proceedings, which is well known.”

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