Fat Clive Palmer.

[Black Orchid]

Clive Palmer's wife has told the Federal Court in Brisbane that she approved the transfer of about $180 million to a Bulgarian company controlled by her husband, but doesn't know what happened to it.

Anna Palmer was questioned at a public examination by liquidators investigating the collapse of Mr Palmer's Queensland Nickel refinery in Yabulu, north of Townsville.

She told the court that in 2018, while she was director of her husband's flagship company Mineralogy, she approved a transfer of 130 million Swiss francs ($A180 million) to a Bulgarian company called Palmer Investments.

The court heard that under the agreement, Mineralogy had to then pay interest on the money, which wasn't repayable by the Bulgarian company for 50 years.

Barrister John Peden — acting on behalf of liquidators — questioned how the loan could possibly be of benefit to Mineralogy.

"Wouldn't it just have been better to stash it under the mattress?" he asked.

"No," Mrs Palmer replied.

Mrs Palmer said it was an investment that was about "diversifying assets" and rejected a suggestion she was "disposing" of the money.

"Have you asked your husband [what happened to the 130 million Swiss francs?]" Mr Peden asked.

"I don't remember," she replied.

The court heard Ms Palmer was the sole director of Mineralogy between October last year and February, when she was removed and control was handed back to her husband.

During another hearing earlier this month, she told the court Mr Palmer was being funny when he told liquidators she was in control of managing the finances.

A wider lawsuit against Mr Palmer, his nephew Clive Mensink and associates over the collapse of Queensland Nickel is scheduled to go to trial in the Supreme Court in Brisbane in July.

https://www.abc.net.au/news/2019-03-22/ ... r/10930386

[LEFTWINGER supreme]

Fat Clive, that rips off his workers and that your Messiah's have paired up with

Deary deary me

[Black Orchid]

Fat Clive, that rips off his workers and that your Messiah's have paired up with

Deary deary me

LW do you ever read what people say? The ONLY ones here with a messiah are you lefties

[IQS.RLOW]

Fat Clive, that rips off his workers and that your Messiah's have paired up with

Deary deary me

Maybe next time the ALP will accept your offer as the chief sucker of dicks, to blow Clive instead of just begging him for his preferences.

[Black Orchid]

Open a newspaper, scroll through Facebook or switch on the TV, and there’s one name that keeps popping up: Clive, Clive, Clive.

You’re driving to work on a miserable Monday morning … and there’s Clive, looking annoyingly optimistic as he beams down at you from a billboard with his thumbs up.

A text message from a random number? Oh hey, it’s Clive again, telling you to “Make Australia Great”.

The United Australia Party has spent an estimated $60 million on its election campaign advertising — the highest figure in Australia’s history. Clive Palmer has previously said he’s budgeted to spend $80 million on his campaign if he has to.

The mining billionaire has taken a broad approach, covering off every advertising sector available to him: social media, the radio, TV ads, billboards, text messages, newspapers.

For better or for worse, the barrage has ensured Australians have become accustomed to his face and voice.

But after taking up two full newspaper pages imploring voters to pick him over the major parties for “insurance”, Mr Palmer may have finally “hit peak Clive”, according to Dr Andrew Hughes, a marketing lecturer at ANU specialising in political marketing and advertising.

“We can’t escape his messaging, and now he’s just annoying us,” he told news.com.au.

https://www.news.com.au/national/federa ... 30b3638978

[Black Orchid]

Former Queensland Nickel workers are being told to sign a document gagging them from making any disparaging comments about Clive Palmer in exchange for receiving their outstanding entitlements.

Palmer, whose United Australia party is running candidates across the country in Saturday’s federal election, announced last month he would pay entitlements to hundreds of workers who lost their jobs when his Townsville nickel refinery went bust three years ago.

When the company collapsed in 2016, it owed about $300m to creditors, including local businesses and the federal government, which covered the entitlements of many workers. It is estimated workers are still owed about $7m.

https://www.theguardian.com/australia-n ... titlements

Oink oink.

[Black Orchid]

Cods will love this one ...

Clive Palmer paid just $1 for his Queensland Nickel (QN) business seven years before it collapsed over fatal cashflow problems, a liquidator has told a court in Brisbane.

The apparent peppercorn price the billionaire paid for the Townsville refinery in 2009 was revealed for the first time in Supreme Court proceedings on Friday.

Mr Palmer was absent from Friday's proceedings due to illness.

Liquidators claim Mr Palmer misused QN funds, including by funnelling millions of dollars to his relatives and unrelated business interests, and that he and his companies are liable for QN's debts.

Mr Palmer denies any wrongdoing or liability.

Kelly-Anne Trenfield, one of the liquidators suing Mr Palmer, his associates and companies to claw back $200 million from QN's 2016 demise, brought up the price tag in cross-examination.

Mr Palmer had previously declined to say how much he paid to take the nickel operation off BHP Billiton's hands, but reportedly said it was below its $2.5 billion replacement cost.

Lawyers for liquidators, including those appointed by the Commonwealth to recover about $66 million it paid out for laid-off worker entitlements, have said the operation made losses for more than half of Mr Palmer's seven-year ownership of the refinery.

Chris Ward, barrister for Mr Palmer's companies, asked Ms Trenfield: "Are you sure … that Mr Palmer paid $1 for the refinery?"

Ms Trenfield replied: "That's the anecdotal information I received. I know he [Mr Palmer] took on [other financial] obligations with that".

Claire Packer, an accountant for the liquidators, gave evidence on how QN would "forgive" loans to Mr Palmer's flagship Mineralogy company.

She said QN would credit non-existent "cash advances" from Mineralogy against the loan amounts at the end of each financial year, including one $500,000 chunk in 2012.

But Ms Packer said it was only the financial statements of Mr Palmer's joint venture companies "that report the forgiveness", not QN's.

Liquidators allege Mineralogy received more than $100 million from QN before its collapse.

More at ... https://www.abc.net.au/news/2019-07-26/ ... l/11349628

[cods]

Mongrel do you think they will ever nail him.?

[brian ross]

I thought he'd moved to NZ?

[cods]

that was if he won a seat at the election...something so he can sue the aussie Govt..