Advanced Search

Share Coverage



Category: Courts and Trials / Law, Crime and Justice / Clive Palmer / Company News / Mining Industry / Federal Government

Clive Palmer gives evidence at Queensland Nickel court hearing

Friday, 9 Sep 2016 05:13:43

Mr Palmer last appeared at a Federal Court hearing on August 26. (ABC News: Andrew Kos)

Businessman and former federal MP Clive Palmer is giving evidence at the Federal Court in Brisbane about the demise of Queensland Nickel.

Mr Palmer fought against the summons to give evidence in court about QNI's collapse.

He personally appeared in the Federal Court on August 26 and argued he needed more time to prepare for the hearing, but the court rejected that request.

Federal Government-appointed liquidators have been questioning former QNI executives this week to try to claw back almost $70 million in entitlements paid to Queensland Nickel sacked workers.

Yesterday, the court heard Mr Palmer lent $500,000 from QNI to the company's managing director of operations Ian Ferguson, which had not been repaid.

Earlier this week, QNI's chief financial officer Daren Wolfe said the big four banks refused finance requests in the months before its collapse.

The court also heard Mr Palmer had approved QNI expenditure, even after he quit as a director.

The Queensland Nickel refinery at Yabulu in Townsville went into voluntary administration in January with debts totalling $300 million.

AustraliaPlus


 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend