Clive Palmer fronts court over Queensland Nickel collapse

Image: Couriermail

Clive Palmer has provided evidence in Brisbane Federal Court today over the collapse of Queensland Nickel.

Palmer had initially gone against providing evidence, the ABC reports, being rejected after appearing in Federal Court on August 26 claiming he needed more time to prepare for the hearing.

The company’s former executives were questioned by Federal Government-appointed liquidators this week in an attempt to recoup nearly $70 million in entitlements paid to its axed workers.

In court, Palmer denied being “heavily involved” in Queensland Nickel during 2015, according to the Sydney Morning Herald.

He also said he resigned from his position as the company’s director in 2013 to enter politics.

“I didn’t like [former Queensland premier] Campbell Newman and I wanted to be involved in getting rid of him,” he said.

When asked about the location of former managing director, and his nephew, Clive Mensink, Palmer believed he was in Berlin.

In court yesterday, the court heard Palmer allegedly lent $500,000 from the company to Ian Ferguson – its managing director of operations – which were not repaid. Palmer also allegedly approved the companies expenses after stepping down as director.

The company’s former chief financial officer Daren Wolfe allegedly said finance requests had been rejected by the big four banks months before the company collapsed.

The company went into administration in January, before heading into liquidation in April with around $300 million in debt.

It left hundreds of employees out of work.

Palmer has repeatedly denied wrongdoings over the business’ failure.

In May, he sought $1.2 billion in damages from Queensland Nickel administrators “in respect of their administration of Queensland Nickel and the illegal diversion of the Queensland Nickel Joint Venture Funds and assets”.

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