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Fed Govt suing Clive Palmer and nephew for $500 million

Clive Palmer is being sued for half a billion dollars.
Clive Palmer is being sued for half a billion dollars.

THE Federal Government is suing Clive Palmer and his missing nephew Clive Mensink for almost half a billion dollars for allegedly breaching their duties as directors of Queensland Nickel and trading while insolvent.

The sensational claim has been lodged in the Supreme Court by the government-appointed liquidators and also includes a bid to claw back hundreds of millions of QN's money from Mr Palmer's companies, from Mr Mensink, and from two mystery women in Kyrgyzstan and Hong Kong.

 

Clive Mensink’s whereabouts remain a mystery.
Clive Mensink’s whereabouts remain a mystery.

It is the government's boldest move yet against the beleaguered resources tycoon, and is the culmination of more than a year of public hearings into the collapse of QN last January with more than $300 million in debts and about 800 job losses.

It comes as a luxury European cruise getaway continues for Mr Palmer - who is also being pursued for $73 million he allegedly transferred from QN's coffers - while Mr Mensink has been on a marathon overseas holiday since June last year.

According to the Brisbane Supreme Court claim, liquidators PPB Advisory will seek a declaration that Mr Palmer was a "shadow director" of QN and should pay compensation of more than $207 million for breaching his "statutory duty in his capacity as director".

More at The Courier-Mail

Topics:  clive palmer general-seniors-news qni

News Corp Australia


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