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Palmer's Qld Nickel to be liquidated to repay massive debt

Clive Palmer
Clive Palmer AAP Image - Mick Tsikas

CREDITORS of Clive Palmer's Queensland Nickel have voted to liquidate the company, a fortnight after administrators made the recommendation amid crippling debt.

Creditors, which includes 800 sacked workers, agreed at a meeting in Townsville to wind up the company.

Administrators told the meeting that liquidators will now be able to pursue Clive Palmer for debts owed.

Workers are owed more than $70 million but the meeting has been told almost $60 million will be covered by the Federal Government's entitlements scheme.

Read more at ABC News Online

Topics:  clive palmer creditors debt editors picks queensland nickel



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