Clive Palmer instructed Queensland Nickel to pay him nearly $15 million and the troubled company spent millions more on vintage cars, a report by administrators has found.
Key points:
- Creditors to vote on whether to liquidate Queensland Nickel, after administrators recommend it
- Company owes about $74 million to sacked workers
- Report says vintage cars were bought using QN bank account, which was never repaid
The report recommends liquidating the company and also points to a possible breach of fiduciary and common law duties by a director or officer of the company.
Sacked workers are owed $74 million, and if creditors agree to liquidate the company at a vote la…
Read the full article at: http://www.abc.net.au/news/2016-04-12/clive-palmer-queensland-nickel-liquidation-administrators-credit/7318586