Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au
Palmer QN trial wraps up evidence
Legal teams at Clive Palmer’s Queensland Nickel liquidation trial have finished presenting evidence on the cash-strapped refinery’s 2016 collapse.
October 4, 2019
The Queensland Nickel liquidation trial to hear a $200 million claim against billionaire businessman Clive Palmer has moved a step closer to completion.
The former Federal MP has already settled most of the multimillion-dollar claim stemming from the Townsville refinery’s collapse in 2016.
On Friday, lawyers presented the last of the evidence to the Brisbane Supreme Court trial, which has narrowed its purpose to determine exactly when the cash-strapped business became insolvent.
Earlier in the week, insolvency expert Peter Gothard told the court it was likely QN had been insolvent as early as October 9, 2015, and remained so until Mr Palmer and his team called in administrators on January 13, 2016.
“From my observations, QN was continuing to incur significant trading losses during that period (and) had projected cash flow deficiencies continuing out through until May or June 2016,” he said from the witness box.
The warring parties will return to court on October 16 when they are expected to present closing arguments.