The liquidators of Queensland Nickel have said they will bring contempt proceedings against Clive Palmer if he doesn’t provide key financial documents related to the company.
Earlier reports from the AAP indicated that liquidators had filed a warrant for Mr Palmer’s arrest in the Federal Court. The AAP has since retracted that story.
The documents were supposed to be provided to the Queensland Nickel liquidators in the Federal Court in Brisbane on Thursday, according the ABC News.
Mr Palmer’s lawyers were unable to provide the documents on Thursday. The liquidators said they will not launch contempt proceedings if Mr Palmer subsequently provides the documents in question.
Queensland Nickel collapsed in April 2016 when creditors who were owed in excess of $220 million voted unanimously to put it into liquidation.
That followed a report issued by the company’s adminsitrators, which alleged multiple breaches of the Corporations Act.
The administrators alleged that Palmer acted as a shadow director of the company, which appeared to trading while insolvent for a number of weeks before being placed in voluntary administration.
It was alleged that Palmer transferred some $224 million transferred out of the business, alongside millions of dollars in donations to Palmer’s political party, and only around $22 million of that money was repaid.
In October this year, the court ordered Mr Palmer to provide details of transactions over the past five years between his company, Mineralogy, and other businesses including Queensland Nickel, the ABC reports.
The court also requested details for other transactions, including a payment of $14.3 from Queensland Nickel to one of Palmer’s personal accounts.
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