Dinosaurs at the Palmer Coolum Resort could be sold off to pay back Queensland Nickel’s debts.
Dinosaurs at the Palmer Coolum Resort could be sold off to pay back Queensland Nickel’s debts. Patrick Williams

Palmersaurus could be sold to pay QLD Nickel debts

CLIVE Palmer's empire including the vintage cars and dinosaurs at the Palmer Coolum Resort could be sold off to pay back Queensland Nickel's debts.

Administrators FTI Consulting have found Queensland Nickel money was used to buy and guarantee assets in other Palmer-owned businesses including the resort's iconic dinosaurs and Palmer Aviation.

FTI Consulting senior managing director John Park said they would be looking into what assets they had a claim on.

"It's something we definitely would have a look at," he said.

He said administrators would be looking to see whether Queensland Nickel had claims on other assets Mr Palmer owned.

Mr Park said creditors were owed more than $100 million, including entitlements from recently sacked Townsville employees worth about $16 million and a further $14 million to the company's remaining employees.

Mr Park said there had been international and domestic interest in the company since they were named administrators.

He confirmed the administrators would investigate allegations that Mr Palmer was working as a "shadow director".

On Friday Queensland Nickel director Clive Mensink released a statement claiming the company had operated much more efficiently under Mr Palmer's ownership than it had before.

"QN's improvement and efficiency in productivity are the best in any industry in Australia during the period of ownership of Mr Palmer and that is a fact," he said.

"The reports in the press about the management team are untrue. I hope the administration will properly investigate and deal with these matters," he said.

Mr Mensink blamed the collapse of commodity prices for the job cuts and questioned why other job losses in the mining sector had not been as publicised as Queensland Nickel's job cuts. - APN NEWSDESK



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