Clive feels squeeze Liquidators in bid to freeze Palmer assets
TURNBULL 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 never before flagged, 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 would also stop him from driving his businesses into the ground.
The latest salvo fired against Mr Palmer 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 without entitlements when the refinery went bust last year.
Documents filed in the Supreme Court of Queensland reveal the application applies to 21 defendants, including Mr Palmer himself 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 Mr Palmer’s 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 ensure the highflying, big spending Mr Palmer lives a “reasonable” lifestyle. The legal move also aims to ensure Mr Palmer’s businesses can still trade.
Last month, Mr Palmer, his nephew Clive Mensink and 19 other defendants were officially served over the demise of Queensland Nickel.