Clive Palmer considers second appeal over criminal charges
Billionaire Clive Palmer may try and have criminal charges brought against him and his company Palmer Leisure Coolum thrown out for the second time, a court has heard today.
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BILLIONAIRE Clive Palmer may try and have criminal charges brought against him and his company Palmer Leisure Coolum thrown out for the second time, after a court today heard he was considering appealing a decision handed down by the Supreme Court this week.
Mr Palmer was charged by the Australian Securities and Investments Commission in February last year for allegedly aiding, abetting or counselling the commission of an offence by another person, namely his business Palmer Leisure Coolum (PLC).
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ASIC alleges in June 2012, PLC breached the Corporations Act by publicly professing to make a takeover bid for villa timeshare scheme The Presidents Club, but failed to make an offer for securities in the company within the prescribed two month period.
ASIC alleges Mr Palmer aided, abetted, counselled or procured the company to do so.
Mr Palmer last year launched a bid to have the charges thrown out, claiming they were an abuse of process and that the shares were not a security under the law and therefore not a breach of the act.
As part of his defence, Mr Palmer claimed he had been the victim of an orchestrated scheme by senior government officials who had vowed to “get him” and foil his plans to return to politics.
But Justice Soraya Ryan on Wednesday threw out the dismissal application, meaning the case will return to the Brisbane Magistrates Court where Mr Palmer is expected to fight the charge.
In a brief mention today, barrister Chris Wilson told the court lawyers for Palmer were “considering” appealing the decision.
The matter will return to court on February 22.
Originally published as Clive Palmer considers second appeal over criminal charges
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