Clive Palmer counted among Queensland Nickel creditors

THEY already argue they shouldn’t have to pay back money owed to former Queensland Nickel workers, but now Clive Palmer and his QN-director nephew could spoil proceedings with an outrageous claim.

Clive Palmer speaks with the Media at the Ville in Townsville Clive Palmer and QLD Nickel Director Clive Mensink

CLIVE Palmer and his nephew are entitled to show up to today’s Queensland Nickel creditors’ meeting claiming they are personally owed a combined $3 million, despite saying they should not have to pay back money owed to their company’s employees and suppliers.

Creditors are expected to vote for Queensland Nickel (QN) to go into liquidation today after an extended administration and almost all of its 800 workers being sacked.

But administrators FTI Consulting warned it would likely be a “drawn out”, costly legal action to see QN owner Clive Palmer and the company’s director Clive Mensink personally pay any of the debt.

SPEECH: Palmer says government blocked defence

The number of creditors at today’s meeting is expected to exceed the hundreds who attended the last one in late January. Counted among creditors able to attend the meeting with voting rights are Mr Palmer, who claims he is owed $2.6 million in loans, while his nephew Mr Mensink says he is owed $277,000 in employee entitlements.

This is despite Mr Mensink yesterday telling a Queensland court that QN’s total debts, up to about $300 million, “probably won’t be paid”.

Neither Mr Palmer or Mr Mensink confirmed yesterday if they intended to take part in the meeting.

A company director can be held personally liable for debt incurred while the business was insolvent. FTI Consulting claimed in its report that QN was insolvent from at least November 27 last year and that Mr Palmer might have been a shadow director, both of which he denied.

In its report, FTI warned creditors any attempt to pursue QN directors and alleged shadow directors for debt incurred while insolvent would involve legal action.

The number of creditors at today’s meeting is expected to exceed the hundreds who attended the last one in late January.

“We would point out to creditors that such proceedings may often be drawn out and involve significant cost,” the report stated.

Meanwhile, Environment Minister Steven Miles yesterday confirmed more tests were taking place in creeks near the Yabulu nickel refinery following high levels of ammonia being detected.

“Queensland Nickel Sales advised the department immediately after the company detected the exceedances, as required by the environmental authority,’’ Dr Miles said.

Mr Palmer yesterday took to social media to declare he had “people maintaining Yabulu to ensure it’s environmentally compliant”.