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Category: Courts and Trials / Company News / Clive Palmer / Mining Industry

Clive Palmer-owned company sued for $106 million

11:50 UTC+8 April 5, 2017 | Kristian Silva

Clive Palmer denied any wrongdoing in the Federal Court in February. (AAP: Dave Hunt)

Liquidators of Clive Palmer's failed Queensland Nickel company are suing one of the mining magnate's other businesses to recover $106 million.

Hundreds of Townsville refinery workers lost their jobs when Queensland Nickel collapsed in 2016, with the company owing creditors about $300 million.

Queensland Nickel liquidators, FTI Consulting, are trying to claw back missing funds, turning their attention towards another Palmer-owned company, Mineralogy Pty Ltd.

For large periods between 2009 and 2015, Mr Palmer was the sole director of Queensland Nickel, and liquidators claim the company made loan payments to either directly to or on behalf of Mineralogy between 2011 and 2015.

According to Supreme Court documents lodged by the liquidators last week, Mineralogy still owes Queensland Nickel $105.9 million.

The court documents also listed 80 pages of transactions made by Mineralogy, described as "loan amounts repayable".

These included a $14.38 million transfer to Mr Palmer himself, $7.67 million paid to his father-in-law Alexander Sokolov, and nearly $1 million sent to Evgenia Bednova, a consultant in Kyrgyzstan.

Smaller payments included transfers to members of the horse racing industry, a public relations firm, employees of the now-defunct Gold Coast United football club and the National Party in 2011.

In February, Mr Palmer told the Federal Court he could not remember exactly why he authorised many transactions during the period.

He said the payment to Mr Sokolov was made in exchange "for natural love", but failed to recall the reasons behind other multi-million dollar payments.

Mr Palmer's lawyers are yet to respond to the Supreme Court claim.

Liquidators have also been chasing Mr Palmer's nephew Clive Mensink, to question him about his involvement as a Queensland Nickel director.

An arrest warrant for Mr Mensink was issued last month after he failed to show for numerous court appearances.

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