Government welcomes Supreme Court decision

Media Release
  • Minister for Small and Family Business, the Workplace and Deregulation
  • Member for Reid

The Supreme Court decision to freeze $205 million of Clive Palmer’s assets is a victory for the former workers and for taxpayers, Minister for Small and Family Business, the Workplace and Deregulation Craig Laundy said.

“It’s both ironic and appalling that this decision came on the same day Mr Palmer was boasting about returning to Australia’s Top 200 Rich List. He should do the right thing and use some of this new-found wealth to pay what he owes to former workers and to taxpayers,” Mr Laundy said.

“By freezing $205 million of his assets, the Supreme Court of Queensland has sent a clear message to Mr Palmer that his duty to his former employees should take precedence over spending on extravagances such as billboards and books.

“The Turnbull Government is committed to ensuring all employers meet their obligations to workers. We’ve invested considerable time and money pursuing this case and will continue to fight for the recovery of unpaid wages and entitlements by continuing the court action,” he said.

The Government is funding Special Purpose Liquidators (SPLs) to pursue court action against Queensland Nickel, Clive Palmer and others associated with the collapse of Queensland Nickel in 2016.

The SPLs are pursuing recovery of $200 million, including $6 million in outstanding entitlements for 455 former employees, to repay 759 former employees.

The Supreme Court of Queensland yesterday agreed with the SPL application to freeze $205 million of Mr Palmer’s assets to ensure they are available for creditors in the event the court ultimately finds him liable.

The trial is scheduled for February 2019.

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