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Clive Palmer in court to try and prevent asset freeze

QUEENSLAND Nickel's taxpayer-funded liquidators want to adjourn an application to freeze Clive Palmer's assets, to go through more than 3000 pages of documentation lodged in the past two days.

But Mr Palmer and the legal team for his companies QNI Resources and QNI Metals are ready to proceed today.

Dominic O'Sullivan QC, acting for QNI Resources and QNI Metals, said the application to freeze assets had "almost no prospect for success" and should be heard now as the liquidators' allegations were affecting the reputations of the respondents.

"We're ready to proceed today and we would like it determined sooner rather than later," he said.

But Justice John Bond questioned what merit there was in making the liquidators proceed without the full picture after Mr Palmer's lawyers lodged more than 3000 pages of documentation in the last two days.

"How's that going to help me?," he asked.

Clive Palmer is at Brisbane Supreme Court defending his assets from being frozen by the government liquidator. Picture: Liam Kidston
Clive Palmer is at Brisbane Supreme Court defending his assets from being frozen by the government liquidator. Picture: Liam Kidston

Justice Bond adjourned until after 2pm to find out when he can re-list the application.

He originally said he would not have time until November.

Liquidators PPB Advisory - appointed by the Federal Government in 2016 - want to freeze the assets while they mount a multimillion-dollar court case against Mr Palmer, his companies and other people, including Palmer's globetrotting nephew Clive Mensink.

Justice John Bond will hear the application to freeze Mr Palmer's assets in the Supreme Court on Wednesday.

Mr Palmer has argued that the freezing of his assets would negatively impact his other companies, including his flagship business Mineralogy.

He also said it would cost Queenslanders jobs.

Queensland Nickel collapsed in 2016 with $300 million in debts and about 800 jobs were lost.

PPB Advisory is alleging Mr Palmer and Mr Mensink breached their duties as directors of the company and traded while insolvent.

Topics:  court editors picks

News Corp Australia


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