Supreme Court
Supreme Court

‘Leeches’: Palmer fires up lawyers, liquidators

CLIVE Palmer has lashed out, claiming his coal interests are "greater than Adani" and called lawyers and liquidators "blood suckers" and "leeches".

The rant follows the start of his two-month civil trial this week over the collapse of his company Queensland Nickel, which left creditors being owed close to $300 million.

Lawyers acting for the general purpose liquidator told the court that while QN was losing $5 million a day, the company purchased a "worthless" $235 million stake in his two mining businesses China First and Waratah Coal.

Clive Palmer fails in bid to delay court case

Businessman Clive Palmer arrives at the Supreme Court in Brisbane on Tuesday, July 16. Picture: AAP Image/Dan Peled
Businessman Clive Palmer arrives at the Supreme Court in Brisbane on Tuesday, July 16. Picture: AAP Image/Dan Peled

At the time, the liquidator's lawyers said, China First only had $2 in capital.

While Mr Palmer did not front court the day of the claims, and will have an opportunity to test them himself later on in the trial, he released a statement this morning lashing out at the liquidators and lawyers.

He disputed the liquidators' claim about Mineralogy's tenements being worthless.

"They are nothing more than self-congratulatory leeches.

"Liquidators and receivers destroy other people's wealth, only to line their own pockets with cash."

Mr Palmer said Waratah Coal's extensive interests "were far greater than that of Adani", which has the multibillion-dollar Carmichael mine in the Galilee Basin.

He claimed liquidators in general "rape and pillage for the benefit of their own businesses and are immunity to their actions".

Mr Palmer said he would be responding in trial to the allegations from August 3.

Liquidators are seeking to recoup close to $300 million for creditors.

The court has also heard accusations Mr Palmer was making false entries in a "little green book" purporting to justify his spending of millions of dollars from his ailing nickel refinery's coffers before it collapsed.

Mr Palmer, who is representing himself, skipped the second day of his trial.

A lawyer acting for one of his companies told the court the billionaire would "come in and out as he thinks the trial plan requires".

Liquidators FTI Consulting have been approached for comment.



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