Clive Palmer secures win in QLD court

The Supreme Court of Queensland has dismissed a $124 million claim by liquidator John Park against the Clive Palmer-led Mineralogy Queensland Nickel.
The claim was dismissed by Judge Justice Debra Mullins, which Palmer described as “vindicating his faith” in Queensland’s judicial system.
Palmer stated he was “always confident” of not being liable for the $124 million.

“It’s a shining example that truth and justice in the final analysis will prevail over lies and innuendo via trial by media,” Palmer said.

“It’s clear that all payments from Queensland Nickel have been paid properly for the purpose of that business.

“While the Queensland media has a lot to answer to for the damages caused to me and my business, at this time of so much trouble in the world, let’s put that to the side and concentrate on reopening our economy.”

Palmer is now considering a $50 million compensation action against John Park, Stephen Parbery and Vannin Capital Operations, on top of millions of dollars in liquidation fees.

Palmer said these fees were the only outstanding money remaining on the Queensland Nickel claim.

“I will leave no stone unturned,” he said. “I’m considering a $50 million action against John Park and the overseas liquidator funder Vannin Capital Operations.

“It will be a cold winter for John Park, Stephen Parbery and Vannin Capital, who recklessly gorged millions of dollars on liquidation fees and liquidating funding costs.”

Park and his liquidation team have responded to the judgement, stating that their legal advisors are “reviewing the matter”.

They referred to Queensland Nickel’s previous charges, including the China First charge and Waratah Coal charge which, as uncommercial transactions, were voidable.

“It had been claimed that these transactions had resulted in Queensland Nickel incurring a liability of approximately $135 million shortly prior to its administration and that obligation was secured by charges given to China First and Waratah Coal,” the liquidators stated.

“The liquidators were successful in setting aside these transactions. Justice Mullins did not find in favour of the liquidator’s claim against Mineralogy.”

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