Tears and cheers at federal bailout of Clive Palmer’s QNI workers

CLIVE Palmer has claimed he’s a victim of political persecution by the Government as it prepares to swoop on the MP’s personal empire, including his vintage cars, planes and golf courses.

CLIVE Palmer claims he is a victim of political persecution as the Federal Government prepares to swoop on the MP’s personal empire, including his vintage cars, planes and golf courses, over his embattled Queensland Nickel.

Employment Minister Michaelia Cash confirmed to sacked QNI refinery workers in Townsville yesterday that more than $73 million in taxpayer funds would flow from next month, although some staff would miss out because of caps on Fair Entitlements Guarantee payments.

The payout, the largest ever under the scheme, will make the Commonwealth the largest creditor of QN and Canberra will unleash ­liquidator expert Stephen Parbery to safeguard taxpayer funds.

Senator Cash said “everything” would be looked at, with the company likely to go into liquidation next week.

“This includes pursuing Clive Palmer and all of his entities that have been the beneficiaries of the cash that has been stripped from Queensland Nickel,” she said.

“If money has been improperly taken out of the company ... if individuals have broken the law, then they will be pursued.

“It is unconscionable that anybody would rip money out of a company to avoid paying employee entitlements.

“It is equally unconscionable that Australian taxpayers are now left to foot the bill.”

A report by administrators FTI Consulting alleges Mr Palmer used Queensland Nickel as his personal “piggy bank” to fund his own eccentric interests and acted as a shadow director for years.

Mr Palmer maintains he has done nothing wrong and yesterday claimed the Government was trying to wipe out a political foe.

“They know that the polls are showing we can win three, four senators and have the balance of power,” the leader of the Palmer United Party said. “They want to crush us by any means ... They are absolutely desperate.”

Mr Palmer said he did not know if he had the funds to cover ex-workers’ entitlements, and complained other shareholders in other liquidations were not being called on to pay anything. The announcement to release FEG payments was met with relief and sadness, with local MP Ewen Jones breaking down.

“This is a tough day in Townsville because this says this is the end of the line for a lot of these people,” he said. “This is taxpayers’ money and no one in Queensland Nickel who has lost their job wants to have taxpayers’ money.”

Prime Minister Malcolm Turnbull labelled Mr Palmer’s role in the saga “disgraceful”.

“He has been taking money out of that company for his own purposes and that has played a major part for the dire state the business is in,” Mr Turnbull said.

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The Maloney family of Deeragun, Townsville are facing bankruptcy, loosing their new home and car after Paul was sacked from his job at Queensland Nickel. Picture: Liam Kidston

DOZENS OF MINING FAMILIES CLOSE TO LOSING THEIR HOMES

UPWARDS of 60 Townsville families are on the brink of being kicked out of their homes because they cannot make mortgage and rental payments.

It is believed more than half of those are retrenched Queensland Nickel employees who have lost a steady income after being made redundant in January and March.

It is understood most of the homeowners were given a three-month financial hardship waiver by their banks but time is almost up for those who lost their jobs in January.

Those who can no longer afford their mortgage will be evicted and have the property sold at a substantial loss to them.

Renters are also feeling the pinch, with real estate agents having to evict families who cannot afford their payments.

AWU Queensland secretary Ben Swan said a lot of the workers were in “severe ­financial stress”.

“Thankfully with some measure of entitlements on the way a lot of people will be better off in some small way to pay off the banks until they can secure future employment,” he said.

Real estate agent Clint Wallis said people were already losing their homes and it would probably get worse.

“I think we are going to see more and more homes over the next few months hit the market,” he said.

He said the housing market was at a low point, meaning if retrenched QNI workers were forced to sell their homes they would incur significant losses.

— Chris McMahon

Originally published as Tears and cheers at federal bailout of Clive Palmer’s QNI workers