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Go to - FDNC NEWS FORUMS > Australian Business & Financial News > Clive Palmer company 'approves' reopening of nicke

Posted by: Flin Jun 6 2018, 11:22 AM
Clive Palmer company 'approves' reopening of nickel refinery
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Businessman Clive Palmer says he'll reopen his mothballed Townsville nickel refinery and he's got plenty of cash to do it - despite a court freezing his assets.

Mr Palmer's surprise announcement comes just a fortnight after liquidators of his collapsed Queensland Nickel business won a court order to freeze his assets while they try to recover money owed to creditors.

Late last month, Supreme Court Justice John Bond granted an application by Queensland Nickel's liquidators to freeze the assets of Mr Palmer and several of his companies.

Justice Bond said Mr Palmer's previous conduct raised concerns that there was a "real risk" he could take steps to frustrate or inhibit justice.

He ordered a freeze on more than $200 million of Mr Palmer's assets, and on more than $340 million in assets held by Palmer-related companies.

But Justice Bond said the freeze would be subject to numerous exceptions, "including that it does not prohibit dealing with or disposing of assets in the ordinary and proper course of business".

Clive Palmer is not intimidated by anyone.
Stick to your guns Clive.

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