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Category: Clive Palmer / Courts and Trials / Mining Industry

Clive Palmer 'can't remember $15m payments', court hears

Wednesday, 15 Feb 2017 14:28:09 | Kristian Silva

Clive Palmer and Walter Sofronoff QC had a tense exchange in court. (AAP: Dave Hunt)

Clive Palmer cannot remember details of multi-million-dollar payments made by his mining empire while he was chairman, a Brisbane court has heard.

The businessman and former federal MP is giving evidence before the Federal Court as liquidators probe his involvement in the failed Queensland Nickel company.

One 2012 transaction was a $US15 million payment from Queensland Nickel to Mr Palmer's personal account.

When asked what the money was for, Mr Palmer told the court he did not know.

"It could have been for parties, I don't know," he said.

"I don't know what it was without going through the records.

"I'm sure it was for a legitimate purpose.

"It's four years ago. I can't remember payments of $15 million."

In a tense exchange with Walter Sofronoff, QC, barrister for liquidator FTI Consulting, Mr Palmer repeatedly answered "I can't recall" when probed about specific transactions.

Mr Palmer said the details of the transactions were in Queensland Nickel journals.

Other payments brought up in court included an $8 million loan to Mr Palmer's father-in-law, which he said was in exchange "for natural love".

Mr Palmer said he did not recall why a $15 million payment was made to a resort he owned in Tahiti, or specifically why a $4 million payment was made to a Queensland Nickel worker in China.

During Mr Palmer's testimony, Mr Sofronoff criticised the billionaire for dodging questions or not answering them properly.

"Answer the question. You're not here to make speeches," he said.

When shown a 2014 loan document which said Queensland Nickel owed Mr Palmer himself $20 million, he said he could not remember what the money was for.

Mr Palmer said his memory was fuzzy at the time because he was in Federal Parliament as the member for Fairfax on the Sunshine Coast.

"I wasn't focused on Queensland Nickel, I wasn't perturbed that Queensland Nickel owned me $20 million personally ... I was in Parliament serving the Australian people," he said.

'I love my father in law'

Mr Palmer will return to the stand tomorrow, where Mr Sofronoff is expected to continue his cross-examination.

After proceedings on Monday, a jovial Mr Palmer said his time on the stand had been "a really pleasurable experience" and pledged to return.

Noticing a television journalist filming a piece-to-camera nearby, Mr Palmer interrupted the reporter and declared the $8 million loan to his father-in-law was a gesture of love.

"I'm happy to give him my money and if he wants more money just tell him to write me a letter because I love him so much," Mr Palmer said.

"See you," he quipped, as he got into his car before it drove off.

AustraliaPlus


 

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