Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au

Aaron Bunch
Palmer settles $90m Qld Nickel claim

Clive Palmer has settled a $90 million claim over the collapse of Queensland Nickel following two nights of out of court discussions, a court has been told.

August 1, 2019

Clive Palmer has settled part of his massive $200 million lawsuit with liquidators over the collapse of Queensland Nickel, a court has heard.

A lawyer for the liquidators, Shane Doyle, told the Brisbane Supreme Court on Thursday that a resolution had been reached over a $90 million claim for unpaid rail transport debts.

“There’s already been a resolution of the Aurizon debt part of the case,” he told Justice Debra Mullins when asking for the trial to be adjourned for another day.

Mr Doyle did not say how much Mr Palmer and his co-defendants had agreed to pay but did say further settlements may be reached by Friday.

“The position is there’s been continuing discussions between the (liquidators) and the defendants, which has the prospect (and) which is improving, I think, of substantially reducing the issues being tried in this case,” he said.

“We hope to advance that overnight.”

The breakthrough came after two nights of behind-the-scenes discussions between the billionaire businessman and the liquidators of his Townsville refinery, which was shut down in 2016 with the loss of hundreds of jobs.

Mr Palmer was a no show in the court.

He’s been absent since Tuesday, when he told Justice Mullins he needed to take a day off from the trial to brief an expert witness to testify on his behalf.

The insolvency expert is expected to testify that QN wasn’t trading insolvently before Mr Palmer’s team called in administrators.

The trial continues on Friday.

August 1, 2019 | Filed under Australian Associated Press, Stories.

Comments are closed.

Latest Stories
archive
Categories
date published
April 2024
M T W T F S S
« Mar    
1234567
891011121314
15161718192021
22232425262728
2930