Australian Politics: The Truth about Clive Palmer

Australian Politics: The Truth about Clive Palmer

The Truth about Clive Palmer.

Administrators confirm they refused Palmer’s offer to pay all bills and sacked 550 workers at Yabulu nickel refinery – destroying North Queensland’s economy

In a move that saw North Queensland lose over 2,500 jobs and effectively destroyed the lives of many of the people living in Townsville, the former administrator (now liquidator) of Queensland Nickel has confirmed in a sworn affidavit filed in the Supreme Court of Queensland that on the day she sacked all employees of Queensland Nickel she rejected an undertaking of Clive Mensink to pay all costs of the administration if she transferred all employees and assets to a new operator to allow the business to continue and the workers to keep their jobs.

Ms Trenfield acknowledged in her sworn affidavit that if she transferred the employees the business could have continued.

Clive Palmer stated in Brisbane today that he was grateful that Kelly-Anne Trenfield had not lied to the court.

“I gave strict instructions to Mr Mensink to give an undertaking to pay all bills and to transfer the workers so that the business could continue,’’ Mr Palmer said.

“Neither Mr Mensink or I could not do any more than offer to pay all costs owing at that time. If the administrator had accepted the money no one would have lost their job and Queensland Nickel would have continued to operate,’’ he said.

Mr Palmer said it was a disgrace that liquidators would put their own interests first and destroy the lives of so many people.

“Mr Mensink was a hero trying to save the employment of so many people, offering to pay all costs to keep people employed. He doesn’t deserve the way he has been treated,’’ Mr Palmer said.

“The abuse continues with the liquidators and their lawyers spending over 10 million dollars of taxpayer funds milking it for all they can, knowing they caused the suffering and blaming me to cover up their own wrong doing.

“It is a political abuse of the first order.

Taxpayer funds should not be the reward of people that are so heartless to the people of North Queensland,’’ he said.

“Taxpayer funds should be used for hospitals and schools not to line the pockets of $14,000 a day barristers, solicitors and heartless members of the insolvency profession.

“If the administrators had allowed all costs to be paid no one would lost their job and the Federal Government would not have had to pay the entitlements as no entitlements would have been needed if the work force was kept employed,’’ Mr Palmer said.

“The Federal government should sue the administrators.

John Park has form, it is not the first time he has done it. The reason they haven’t is because all liquidators belong to a club that put their profession before the taxpayer interests.”

Mr Palmer said he wanted to thank the Mayor of Townsville Jenny Hill for her apology.

“It’s good to see she finally understands the truth.

“The main task now is to see what can be done to open the refinery as soon as possible considering the high nickel price and to revitalise the North Queensland economy,’’ Mr Palmer said.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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