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Palmer says mansion deal backs his bid for $300b in damages

The West Australian government’s decision to slug a Clive Palmer company an extra $322,000 in stamp duty on a house purchase could come back to haunt taxpayers to the tune of billions of dollars as he pursues a damages claim under international trade laws.

Mr Palmer’s private company Mineralogy bought a mansion in the leafy Perth suburb of Applecross in 2019 for $4.6 million. Now, with jurisdiction a key issue, his Singapore-headquartered Zeph Investments is chasing almost $US200 billion ($299 billion) in damages from Australia in a case related to stalled iron ore projects and “emergency legislation” passed by the WA government.

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Brad Thompson was a reporter at The Australian Financial Review

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    Original URL: https://www.afr.com/companies/mining/palmer-says-mansion-deal-backs-his-bid-for-300b-in-damages-20230331-p5cx4t