Clive Palmer's Nickel Refinery Business Insolvent Before Administrators Took Over, Court Rules

Clive Palmer's failed Queensland Nickel refinery was insolvent in the days before administrators were called in, a judge has found. But Justice Debra Mullins dismissed the liquidators' claim against Mr Palmer's flagship company Mineralogy, worth more than $100 million, the ABC reported. The judgment follows a mammoth Supreme Court civil trial into Queensland Nickel's (QNI) 2016 collapse, which left 800 people out of work. "This judgment vindicates my faith in the judicial system in Queensland," Mr Palmer said. "It's a shining example that truth and justice in the final analysis will prevail over lies and innuendo via trial-by-media. "I will leave no stone unturned. I'm considering a $50 million action against John Park and the overseas liquidator funder Vannin Capital Operations Limited." The insolvency ruling could now attract the attention of the Australian Securities and Investments Commission. Read more