Clive Palmer grilled over collapse of Queensland Nickel

FACING questions over his involvement in the collapse of Queensland Nickel, Clive Palmer was flanked by two bodyguards at court this morning.

Clive Palmer arrives at the Federal Court flanked by two bodyguards.

BILLIONAIRE businessman Clive Palmer has denied he was involved in the running of Queensland Nickel when it collapsed earlier this year owing hundreds of millions of dollars.

Mr Palmer is being grilled about his involvement in the operations of the Townsville nickel refinery in the Federal Court in Brisbane on Friday.

Nearly 800 workers lost their jobs when the company went into voluntary administration in January, with debts of $300 million.

The Federal Government has paid $65 million in taxpayer-funded redundancy payments to workers and special purpose liquidators PPB Advisory are attempting to have the money repaid through the court.

Clive Palmer arrives at court to answer questions about his involvement in the collapsed Queensland Nickel.

Mr Palmer maintains he was not involved in the running of the company prior to its collapse and told the court on Friday he stepped back from the company in 2014 to concentrate on politics.

The mining magnate was asked whether he was heavily involved in the business of Queensland Nickel in 2015, The Australianreported.

“No, I don’t agree,” Mr Palmer said.

“I was heavily involved in parliament in Canberra, you can check Hansard.”

The long-time Liberal National Party member split acrimoniously with the party after a feud with former Queensland Premier Campbell Newman.

He established his own political party, the Palmer United Party (PUP) in 2013, and was elected the member for Fairfax at that year’s federal election.

He did not stand for re-election this year amid enormous unpopularity with his constituents.

PUP imploded before this year’s federal election.

The collapse of Townsville’s Queensland Nickel refinery cost nearly 800 people their jobs.

The billionaire was flanked by two bodyguards when he arrived at the Federal Court in Brisbane at 8.15am on Friday, nearly two hours ahead of his scheduled hearing at 10am.

He has always denied acting as a shadow director of the company, however, former Queensland Nickel chiefs have testified he maintained an active role.

Earlier in the week, the court heard the billionaire had ordered QN to loan long-time friend Ian Ferguson $500,000 in 2014, which had not been paid back.

The courtroom is at capacity for the hearing.