Liquidators apply to put a freeze on Palmer

FEDERAL Governmentappointed liquidators have applied to freeze hundreds of millions of dollars in assets owned by Clive Palmer — including luxury boys’ toys and 15 properties — in a move to help recoup taxpayer money.

In a surprise move, special purpose liquidators PPB Advisory yesterday filed a Mareva injunction in the Supreme Court of Queensland to stop Mr Palmer splurging away at least $200 million in personal wealth and selling off his businesses.

The application also aims to stop him driving his businesses in the ground.

The latest salvo fired against the entrepreneur is one of the most significant steps to recoup almost $70 million in taxpayer cash paid out to gutted Queensland Nickel employees, who were left with- out entitlements when the refinery went bust last year.

Documents filed in the Supreme Court of Queensland reveals the application applies to 21 defendants, including Mr Palmer and his many business interests. A directions hearing is expected today.

“Clive Frederick Palmer must not remove from Australia or in any way dispose of, deal with or diminish the value of any of his assets in Australia up to the unencumbered value of $219,050,604.30, until further order,’’ the application states.

It includes his super yacht Maximus, vintage cars, 15 properties, golf courses, his 100 per cent shareholdings in Nickel House and associated businesses.

The application also asks the court to order on the amount Mr Palmer can pay for “reasonable” legal expenses.

The legal move also aims to ensure his businesses can still trade.