Liquidators go after Clive Palmer's toys

Clive Palmer in court as assets face deep freeze

CLIVE Palmer has arrived at the Brisbane Supreme Court where an application will be heard today to freeze hundreds of millions of dollars of his assets.

The application is expected to begin before Justice John Bond after midday.

Mr Palmer did not speak outside court.

More to come.

 

EARLIER:

FEDERAL Government-appointed liquidators have sensationally applied to freeze hundreds of millions of dollars in assets owned by Clive Palmer - including luxury big boys' toys and 15 properties - in a shock 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 also aims to stop him from driving his businesses in 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.

More at The Courier-Mail

News Corp Australia


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