Controversial Gold Coast businessman Clive Palmer has confirmed he is launching legal action over the handling of the Queensland Nickle fiasco.
The mining magnate-turned politician made the announcement on his Facebook page a short time ago.
“Palmer to sue John Park and FTI for $1.2 billion” the post reads.
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It goes on to confirm, Palmer and two of his companies will serve a statement of claim in coming weeks “seeking $1.2 billion in damages from John Park, his colleagues and FTI in respect of their administration of Queensland Nickel and the illegal diversion of the Queensland Nickel Joint Venture Funds and assets”.
Mr Palmer claims the parties involved were part of “aiding and abetting a breach of trust and causing serious breaches of the Queensland Nickel Joint Venture Agreement by Queensland Nickel”.
“The role of an administrator should be to do everything possible to preserve, protect and defend a business and to keep it operating, not to destroy it as Park has done.”
John Park is yet to make comment on the legal action.