Palmer cites heavy fiscal toll in plea against freezing assets

CLIVE Palmer says a freezing order on his assets would cost him $ 250 million and cause “serious unemployment for many Queensland families”.

More than 800 people lost their jobs when the Townsville company founded by the expolitician, Queensland Nickel, collapsed last year with $ 300 million in debts, and tomorrow taxpayer- funded liquidators want to freeze his assets while a Supreme Court battle is waged to claw back some money allegedly provided by the company to Mr Palmer.

Mr Palmer filed an affidavit in the case late yesterday, which included multiple letters between the businessman and lawyers acting for liquidators PPB Advisory.

On August 9, he wrote that the damages his companies would suffer would be “in the order of $ 250 million” and he wanted an undertaking from the Federal Government to cover that loss if the freezing order was found to be wrongly granted.

Two days later, he said the application, which relates to about $ 200 million worth of assets, would “cause me personally great financial difficulties and embarrassment and substantial financial loss”.

“Such orders, if made, will cause serious unemployment for many Queensland families,” Mr Palmer added.

“I therefore would request that your clients do not continue in a cavalier fashion, but seriously address the issue of the undertakings required for such an application and the worth of such undertakings.”

Mr Palmer also wrote to Justice John Bond’s associate on August 12 and 14 and asked to vacate tomorrow’s hearing because he claimed the liquid- ators had not complied with court orders to provide more information.

The manager of a related company, Waratah Coal, supplied an affidavit claiming that potential business partners were asking for proof of financials before signing on to projects. Waratah Coal manager Nui Harris wrote that if the freezing order was successful, it would have a “negative impact” on operations.