Clive Palmer’s nephew and wife did a deal for Queensland Nickel to buy $135 million worth of shares in a coal mine he wanted to build five days before the company failed, a court has heard.
At the time the deal was signed, on January 13 last year, Queensland Nickel was less than a week away from being placed in voluntary administration over debt concerns.
It’s now being liquidated, with creditors owed about $300 million and 800 Townsville refinery workers out of their jobs.
Liquidators FTI Consulting want answers over a series of highly questionable transactions they say benefited other companies owned by Mr Palmer, but were of no benefit to Queensland Nickel itself.
On Thursday, lawyers for FTI quizzed the nickel company’s former…
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