Forensic investigators probe authorisation of payments at Queensland Nickel

FORENSIC investigators are looking over Queensland Nickel books following allegations Clive Palmer signed off on expenses at the embattled refinery using an alias.

26/1/2016: Embattled businessman and MP for the seat of Fairfax, Clive Palmer at the Australia Day citizenship ceremony at Palmwoods, on the Sunshine Coast. This is his first public appearance since his nickel refinery went into administration, and he clearly felt the humidity and heat, sweating and leaving quickly afterwards. Lyndon Mechielsen/The Australian

FORENSIC investigators are looking over Queensland Nickel books to determine who has been authorising payments and when.

Boss Clive Palmer this week said he bore “no personal responsibility” for the entitlements of 237 workers made redundant immediately prior to the troubled company going into voluntary administration.

Sources close to the company confirmed that there is detailed financial analysis, particularly around the authorisation of payments, taking place.

EXPENSES: Palmer used mystery alias

Administrators are also understood to be looking at other assets linked to the company.

Australian Workers’ Union boss Ben Swan said the company’s administrators had confirmed to him a forensic accounting investigators were among the teams looking through the state of QN.

“One is a forensic team that is going in looking at the books, looking at the transactions, looking at who authorised what and when,” he said.

“He can stomp his feet and hold his breath, huff and puff about whether he is or isn’t liable.

“Those questions are questions of law that will be dealt with by courts, the regulator ASIC or, if the company goes into liquidation, by the liquidators.”

It is also understood they are looking at possible approvals made by “Terry Smith”, a pseudonym used by Mr Palmer.

Clive Palmer has denied he had been approving expenditure using the name Terry Smith. Picture: Lyndon Mechielsen

The Federal MP has denied he had been approving expenditure using the name Terry Smith.

“That’s just not true. I’m not here to discuss that,” Mr Palmer said on Tuesday.

But court documents show evidence of him using the name through a Yahoo email address at various companies dating back to 2009.

Mr Palmer also said he would not be using his personal wealth to cover the entitlements of the refinery workers made redundant, denying it was his problem.

“I have no personal responsibility, I retired from business over three years ago,” he said.

Administrators FTI Consulting are holding the first creditors meeting this Friday in Townsville, where more details surrounding Queensland Nickel are expected to be revealed.

FTI Consulting are also holding a creditors meeting for another Palmer company, Palmer Aviation, on the same day in Sydney.