Clive Palmer settles $200m Queensland Nickel lawsuit

Clive Palmer has reached a settlement in the Federal Court over the collapse of Queensland Nickel, despite claiming that the Fair Entitlements Guarantee (FEG) scheme should have never happened in the first place.

“Justice has prevailed and the witch hunt is finally over,” he said. “All creditors and taxpayer funds contributed under the FEG scheme will be repaid.”

Palmer has personally agreed to make all payments in full to other creditors, although settlement has not been reached with the General Purpose Liquidator.

The Palmer-owned Queensland Nickel entered into voluntary administration in 2016, which has since sparked an ongoing court case involving the compensation for hundreds of employees left without work.

“While I continue to maintain that the FEG should never have been activated in the first place, or the company placed into liquidation, I decided to settle it because this issue was standing in the way of the main game – getting the refinery open and recreating thousands of jobs in North Queensland,” Palmer said.

“Today’s settlement confirms the actions against me were nothing more than a witch hunt designed to smear my good reputation.”

Palmer urged the Queensland Government to focus on creating jobs in North Queensland, now that the court matter meant has concluded.

“Governments have stood in the way of getting the refinery operational. I have invested large amounts of money into the North Queensland community and we need positive action from our elected representatives to get the economy moving and creating employment,’’ he said.

“I am not seeking an apology from the Queensland Premier Annastacia Palaszczuk. What I am seeking is positive action for the benefit of North Queenslanders.”

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