‘Enthusiastic game of Uno’: Billionaire Clive Palmer suffers huge court loss

Billionaire mining magnate Clive Palmer has suffered a major court setback in his fight against criminal charges brought by the corporate watchdog.

Clive Palmer has suffered a major legal blow after a judge knocked back his Supreme Court bid to stop criminal proceedings against him from going ahead.

And in another setback, the court also ordered the mining magnate and his company, Palmer Coolum Leisure, pay the associated costs for the Commonwealth parties, along with the Queensland Attorney-General’s.

Mr Palmer is contesting serious charges, including fraud, breaching director’s duties and breaching Australia’s takeover law.

In response to the accusations, Mr Palmer filed civil suits in the Supreme Court against the Magistrates Court of Queensland, the DPP and the Australian Securities and Investments Commission (ASIC).

A Supreme Court judge likened Mr Palmer’s frequent applications to an “enthusiastic game of Uno” after dismissing his attempt to knock back criminal proceedings he was facing on Wednesday. Picture: NCA NewsWire / Dan Peled

Mr Palmer was seeking a stay of the prosecution for the matters.

But the Commonwealth defendants asked the court to set aside or stay Mr Palmer’s proceedings, or “strike out the process by which they are brought”.

On Wednesday, Supreme Court Justice Peter Callaghan said the stay of proceedings was granted, because “there is another jurisdiction in which these matters can and should be dealt with”.

He also refused Mr Palmer’s application for a summary judgment in both matters.

“Further applications have slapped onto the Registry counter like cards in an enthusiastic game of Uno,” Justice Callaghan said.

“The proceedings should be stayed … as an abuse of process.”

Justice Callaghan said the Commonwealth defendants had argued Mr Palmer’s actions were “calculated” to “fragment or dislocate the processes of the court”.

In his filings, Mr Palmer claimed the proceedings acted in “ignorance” of his human rights – something Justice Callaghan dismissed.

Mr Palmer has said he will fight the charges but was seeking orders from the Supreme Court for a permanent stay on the prosecution. Picture: NCA NewsWire / Luis Ascui

“One reason why these proceedings should be stayed is that the plaintiff’s cases can in fact be made elsewhere,” he said.

“There is ample scope for Mr Palmer’s grievances to be agitated, but there is no need nor requirement for that to occur in proceedings in this court.”

In 2018, Mr Palmer and Palmer Coolum Leisure Pty Ltd were charged by ASIC with breaching takeover law in relation to a company known as The President’s Club.

The watchdog claims Palmer Coolum Leisure publicly proposed to buy out shares and occupancy rights for villas at Mr Palmer’s Coolum Resort in June 2012.

It is alleged Palmer Coolum Leisure did not make the offer within the required time frame under the Corporations Act.

Mr Palmer himself is accused of aiding, abetting, counselling or procuring the company, as a director, to commit the offence.

ASIC also charged Mr Palmer in 2020 with dishonestly using his position as a director and dishonestly gaining a benefit or advantage.

It is alleged in 2013 he dishonestly obtained a benefit for his company Cosmo Developments and/or the Palmer United Party by authorising the transfer of $10m contrary to the purpose for which the funds were being held by Mineralogy.

Mr Palmer is also accused of dishonestly obtaining an advantage for his advertising company Media Circus Network (which ran his election marketing campaign) and/or PUP by authorising the transfer of $2.1m.

Mr Palmer intends to fight all charges against him.

Originally published as ‘Enthusiastic game of Uno’: Billionaire Clive Palmer suffers huge court loss