Federal Court appoints special liquidator to chase Clive Palmer over Queensland Nickel debts
The Federal Court appoints a taxpayer-funded liquidator to chase Clive Palmer over Queensland Nickel debts.
A Federal Court judge has appointed a special purpose liquidator funded by taxpayers to chase Clive Palmer over the debts of his Queensland Nickel refinery.
Justice John Dowsett this morning agreed with the federal government’s unusual application to appoint insolvency expert Stephen Parbery as SPL for Queensland Nickel, which fell into liquidation last month with debts of $300 million.
The court heard existing liquidators FTI Consulting don’t have the funds to launch legal action against Mr Palmer to recoup the debts.
Freight carrier Aurizon is owed more than $90m, while federal taxpayers will shell out $68m for unpaid workers’ entitlements.
Justice Dowsett will also be asked today to allow a public examination of Mr Palmer and other QN executives to gather evidence for possible legal action.
The hearing continues.
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