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Australia Clive Palmer avoids raids after handing over Queensland Nickel documents

07:22  07 december  2017
07:22  07 december  2017 Source:   msn.com

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Mining magnate Clive Palmer is due back in court today, after finally handing over a cache of documents relating to multi-million-dollar payments Queensland Nickel made before the company collapsed.

Liquidators will not need to raid Clive Palmer 's company Mineralogy after the billionaire complied with a court-imposed deadline to hand over financial documents . It means liquidators FTI Consulting are unlikely to follow through with threats to have Mr Palmer held in contempt of court, after they grew

  Clive Palmer avoids raids after handing over Queensland Nickel documents © AAP Image/Dan Peled

Liquidators will not need to raid Clive Palmer's company Mineralogy after the billionaire complied with a court-imposed deadline to hand over financial documents.

It means liquidators FTI Consulting are unlikely to follow through with threats to have Mr Palmer held in contempt of court, after they grew frustrated with their investigation being stalled.

Mr Palmer was ordered to be in the Federal Court on Thursday, but was coy about whether he would turn up.

FTI Consulting is investigating the collapse of Queensland Nickel, which accumulated about $300 million in debts and left about 800 employees out of work.

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Mining magnate Clive Palmer is due back in court today, after finally handing over a cache of documents relating to multi-million-dollar payments Queensland Nickel made before the company collapsed.

Clive Frederick Palmer (born 26 March 1954) is an Australian businessman and former politician. He has iron ore, nickel and coal holdings.

They want to know what role, if any, Mr Palmer had in the company's demise even though he was not listed as a director at the time.

Mr Palmer's nephew Clive Mensink, who is overseas and subject to an arrest warrant, was Queensland Nickel's sole director.

Mr Palmer drew the ire of Federal Court justice John Reeves after missing the November 30 deadline to provide FTI Consulting with details of multi-million-dollar transactions made by his businesses.

Justice Reeves imposed a deadline of Tuesday afternoon, saying Mr Palmer would have to move "heaven and earth" to make it happen. The ABC understand Mr Palmer has complied.

If Mr Palmer missed the deadline, FTI would have been permitted to search Mineralogy's offices and retrieve the information.

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