The Queensland Nickel liquidation trial has again been halted for more talks, with a Clive Palmer company lawyer foreshadowing an upcoming resolution.

August 1, 2019

The Clive Palmer Queensland Nickel collapse trial has again been adjourned after two nights of behind-the-scenes talks between the warring parties.

There’s speculation some sort of deal may have been reached, but lawyers remain tight-lipped about what it could mean for the massive lawsuit between Mr Palmer and the liquidators of his Townsville refinery.

The billionaire businessman was again absent from the Brisbane Supreme Court trial on Wednesday and missed his opportunity to cross-examine top QN liquidator John Park, who he personally subpoenaed.

However, during a three-hour cross-examination by a lawyer for Mr Palmer’s companies, Mr Park told the court when administrators arrived at QN, the cash-strapped refinery was losing about $1 million a week.

A $5 million funding hole doubled in size within two weeks, he said.

Workers were also nervous after the mining magnate’s team cut 237 safety and procurement staff in a bid to slash costs.

There were genuine concerns that the cuts were too high and it was compromising safety on-site, he said.

Mr Park went on to raise doubts about Mr Palmer’s efforts to save the remaining 555 workers from losing their jobs less than a month later.

He said Mr Palmer and his nephew Clive Mensink’s strategy towards the refinery changed after they resurrected a little-known clause in the QN joint venture agreement removing the administrators and QN as managers.

Despite the Palmer camp’s verbal promises to re-employ the workers in the new company, which was set up to operate the refinery, no offers of employment were made, he said.

“We had no choice. We had to terminate the staff,” Mr Park said.

“That was a bad result for everyone.”

The trial resumes at 2.30pm on Thursday.