Has Clive Palmer gone loco?

[drsmith]

We haven't seen much of uncle Clive lately and he won't be appearing at PUP's Queensland election campaign launch today according to the BCM.

http://www.couriermail.com.au/news/...lection-campaign/story-fnr8vuu5-1227188509958

Flu is the reason given.

 

[noco]

We haven't seen much of uncle Clive lately and he won't be appearing at PUP's Queensland election campaign launch today according to the BCM.

http://www.couriermail.com.au/news/...lection-campaign/story-fnr8vuu5-1227188509958

Flu is the reason given.

I think we will being seeing less of Clive since Lazarus has resigned and become an independent....If Clive is not already loco, he soon will be......He must have gigantic headache.

http://www.couriermail.com.au/news/...mer-united-party/story-fnihsrf2-1227260745408

 

[Tisme]

Glen's wife gets the heaveho and Glen takes his bat and ball home

 

[drsmith]

All that's left for the Uncle Clive political movement now is his love and affection for the Chinese, and Dio Wang.

The question now is how long that will last.

 

[noco]

All that's left for the Uncle Clive political movement now is his love and affection for the Chinese, and Dio Wang.

The question now is how long that will last.

I am sure Campbell Newman will be laughing his head off...Palmer is getting his just desserts for his vindictive movement on the previous Newman government and it has cost him millions of dollars and all for what?

 

[noco]

Humpty Dumpty had a great fall and all the kings horse and all the kings men could not put Humpty together again.

His vindictiveness against the LNP has caused him so much heartache I am sure he must be wondering whether it has been all worth it....Now he is going to spend another couple of millions suing Lazareth and Lambie....I am shaking my head in disbelief.


http://www.couriermail.com.au/news/...it-spent-on-them/story-fnihsrf2-1227287511554

 

[Tisme]

I'm not sure who the bigger nutter is:
http://thenewdaily.com.au/news/2015/06/22/clive-palmer-breaks-every-rule-book/

Multi-millionaire politician Clive Palmer has been chided by Speaker Bronwyn Bishop for the extraordinary feat of supposedly breaking every single rule in parliament pertaining to the asking of questions.

During Monday’s question time in the lower house, Mr Palmer attempted to quiz the Prime Minister about a mooted law to strip terror suspects of their Australian citizenship.

The businessman, head of the shrinking Palmer United Party, tried to expose what he saw as the fragility of the proposal, in that it relies on the advice given to the Immigration Minister by his staff.

“Is it okay that an Australian citizen could lose his citizenship because a government official lies or makes a mistake?” he tried to ask.

In a later interview with Sky News, Mr Palmer clarified that he was referring to the Godwin Gretch incident, which ultimately cost Malcolm Turnbull the Liberal leadership.

Mr Turnbull relied on evidence given by Treasury official Mr Gretch to attack then-Labor PM Kevin Rudd — evidence later proven false.

The Speaker ruled the question out of order because “it offends every standing order in the book”.

Mr Palmer’s extraordinarily broad breach may have been worsened by what he said before the question.

The businessman prefaced his query by congratulating Greens MP Adam Bandt and his wife on the birth of their child “a few minutes ago”.

-with AAP.

 

[drsmith]

Is he now on the way to going broko ?

http://www.abc.net.au/news/2015-10-...siders-lending-25m-to-palmers-company/6850918

 

[sptrawler]

Is he now on the way to going broko ?

http://www.abc.net.au/news/2015-10-...siders-lending-25m-to-palmers-company/6850918

You may have called it right doc.

http://www.theaustralian.com.au/new...sh-for-some-cash/story-e6frg6z6-1227599491148

Maybe, that was the reason to jump on the 'gravy train'. Who knows?

 

[Tisme]

You may have called it right doc.

http://www.theaustralian.com.au/new...sh-for-some-cash/story-e6frg6z6-1227599491148

Maybe, that was the reason to jump on the 'gravy train'. Who knows?

I doubt Clive would go broke ..... maybe do an Alan Bond and salt away a healthy few millions then play pauper for a few years.

He's apparently not getting all the royalties owed from Citec because one of the benchmarks used no longer exists.

 

[drsmith]

You may have called it right doc.

http://www.theaustralian.com.au/new...sh-for-some-cash/story-e6frg6z6-1227599491148

Maybe, that was the reason to jump on the 'gravy train'. Who knows?

That specific story sounds like a legal ploy for money to me more than imminent financial demise.

Tis,
I also think Clive will manage to look after himself should everything else go pear shaped. Defense of the bunker would have to be front and centre on his legal team brief.

 

[Tisme]

Back on the attack:

http://www.smh.com.au/federal-polit...-over-james-ashby-affair-20151125-gl7qq7.html

Mal Brough is under renewed pressure to explain his role in the torrid Peter Slipper affair, with Labor escalating its attack and Clive Palmer reviving sensational claims the Special Minister of State asked him to fund a $200,000 legal case to "destroy" his political rival.

Mr Palmer was a long-time member of and major political donor to the Liberal National Party before he quit in protest and formed the Palmer United Party.

Under parliamentary privilege, Mr Palmer told the House of Representatives on Wednesday that Mr Brough asked him in April 2012 to fund Mr Ashby's legal case, which he said to he understood to be worth around $200,000.


"The current member for Fisher at the meeting requested I fund the legal costs of Mr Ashby and while no exact figure was discussed with the member for Fisher, who later ran against Mr Slipper in Fisher, I understood the cost would be at least $200,000," Mr Palmer said.

"The member for Fisher stated to me that we needed to destroy Peter Slipper."

"I refused the request from the member for Fisher, I did not think it was appropriate then and I don't think it is now that a person funds another person's legal action, designed to cause a third party's demise for political reasons."

It is not the first time Mr Palmer has made the claim and Mr Brough has in the past denied asking Mr Palmer to help bring down Mr Slipper.

But the case is back in the spotlight after the Australian Federal Police recently raided the homes of Mr Brough and James Ashby. Mr Ashby was a former political aide to Mr Slipper and accused the former speaker of sexual harassment. Police are investigating whether any criminal offence occurred when Mr Brough said in a media interview that he urged Mr Ashby to make copies of Mr Slipper's diary, which were leaked to the media.

Prime Minister Malcolm Turnbull elevated the Member for Fisher from the backbench to the senior ministry after toppling Tony Abbott in September. Mr Brough was one of Mr Turnbull's key backers.
Comment is being sought from Mr Brough.

Mr Palmer spoke in support of a Labor-instigated Matter of Public Importance debate after question time.
Shadow attorney-general Mark Dreyfus also used the debate to question Mr Turnbull's judgment in appointing Mr Brough as Special Minister of State.

"Australians are meant to accept that a man who is by his own admission under investigation by the Australian Federal Police for criminal wrongdoing is fit to set standards for propriety in public office,' Mr Dreyfus said.
"And this is not just about the member for Fisher, the man who we can now see would do anything to advance his own interests, to realise his ambitions and to return to the Parliament.
"No, this is about the judgment of the man who has fulfilled those ambitions – the new Prime Minister
"This is about the judgment of a prime minister who appoints as his minister for government integrity a discredited figure over whom loom allegations of serious misconduct.
"The judgment of a Prime Minister who stands by the member for Fisher even after he has been raided by the Australian Federal Police, even as the Australian Federal Police are considering charges against him."

 

[noco]

I cannot believe how self opinionated and self interested this Palmer guy is to destroy the LNP because he could not get his own way in a mining venture in Queensland....He had no interest in the welfare of Queensland and hope he gets all he deserves.

His Nickel Refinery in Townsville is close to collapse and the Queensland government want to bail him out for the simple reason of how it could affect the economy of Townsville and the loss of some 600 to 1000 jobs.

I would suggest to the Queensland Government if they do bail out this wind bag they should have Palmer commit to a back up of one or more of his assets and if he defaults then sell those assets under his nose but knowing the Labor run Queensland government, I doubt if there is any brain in the Party who would think of that.

He has a closed tourist resort on the Sunshine Coast sitting there in moth balls......He should be forced to sell up and throw the money into the Nickel Refinery.

Next Monday is crunch time for the refinery..






http://www.theaustralian.com.au/nat...ught-us-down-campbell-newman/story-fn59niix-1

 

[drsmith]

Any government bailing out uncle Clive is about as sensible as boarding the Titanic after it's hit the iceberg.

http://www.smh.com.au/business/mini...on-clive-palmer-refinery-20151202-gle1dr.html

 

[noco]

Is "Humpty Dumpty" headed for a great fall?

The Townsville nickel refinery is only hours away from the verge of collapse......The Labor state government and the Labor Mayor of Townsville are both running around like chooks with their heads chopped off.

He has had three offers to buy his Sunshine Coast resort and is refusing to sell....Maybe he would like to close the refinery for fear of an environmental disaster with the tailing ponds for if they overflow in the wet season it could cost him millions more..


http://www.theaustralian.com.au/bus...e-in-worse-than-perilous-position/story-e6frg

Clive Palmer is just hours away from putting his Townsville nickel refinery into administration and sacking 776 workers.

The Western Australian Supreme Court heard today that Mr Palmer would take the drastic action unless the court ordered China’s Citic to pay it $US48 million by 4.30pm Perth time.

Mr Palmer’s flagship company Mineralogy is seeking an urgent order from the court for Citic to pay an interim amount of disputed royalties from the Sino Iron project in WA.

The court heard today that five Australian banks all knocked back Mr Palmer for loans to keep his Queensland Nickel refinery afloat, despite the company’s official accounts valuing its assets at $1.9b and its debts at just $23m.

Commonwealth, Westpac, ANZ, NAB and Suncorp all refused to loan money to the struggling refinery, Mr Palmer’s lawyer said, while lawyers for Citic produced evidence from one of the banks in which the institution recommended Mr Palmer personally step in to provide funding to the refinery.

Mr Palmer was in court this morning to hear his own lawyer, Simon Couper QC, describe Mr Palmer’s business empire as in a “worse than perilous” financial position.

Mr Couper QC said that unless the court ordered China’s Citic to pay $US48m today, there would be major ramifications for Mr Palmer and his business interests.

“Queensland Nickel is in a situation where unless it receives $28m, (Queensland Nickel managing director Clive) Mensink has formed the rational view that the administrators have to come in,” Mr Couper said.

The Townsville refinery employs 776 people.

In addition, Mr Couper said Mr Palmer’s private company Mineralogy would struggle to continue paying its lawyers and its subsidiaries may lose coal tenements in Queensland.

“If money is not paid, Queensland Nickel’s position is worse than perilous and Mineralogy’s prospects of continuing litigation and maintaining valuable assets in its subsidiaries are seriously out at risk to say the least,” Mr Couper said.

While Mr Palmer has regularly described himself as a billionaire, the court heard today that Mineralogy brought in just $4m in revenue last year against spending of $29 million.

The lawyer representing Citic, Charles Scerri QC, said it was an “absurd proposition” that Citic should pay money to keep Queensland Nickel afloat given it was unrelated to the dispute between Citic and Mineralogy.

Mr Scerri also noted that Citic had paid Mr Palmer $US415m in 2006 so should have been in a position to support Queensland Nickel if he wanted.

“The only reason we are talking about Queensland Nickel is because the only shareholder of Queensland Nickel (Mr Palmer) has chosen not to support it and wants Citic to support it instead,” Mr Scerri said.

Citic and Mineralogy have been in a long running dispute over how to calculate a royalty payable to Mineralogy from Citic’s Sino Iron project. The formula relied on the now-defunct annual benchmark iron ore pricing mechanism.

Mr Scerri noted that the royalties agreement between Citic and Mineralogy did not include any cause for interim royalty payments in the event of a dispute, as was common in many other similar agreements.

The judge hearing the case, Justice Paul Tottle, has promised to deliver a decision by 4.30pm Perth time.

 

[drsmith]

The Clive-size question is when it's real and not another bluff,

CITIC's lawyer Charles Scerri questioned that urgency, arguing that the previous "drop dead date" for Queensland Nickel had been Friday, but that had been miraculously extended until Tuesday.

Justice Paul Tottle also questioned why the company's director had not taken other steps to avoid administration, instead arguing if the money was not paid, he would "shut up shop, sack everybody and close the refinery".

"It seems a very dramatic step without considering... other options apart from bank finance," Justice Tottle said.

http://www.abc.net.au/news/2015-12-07/clive-palmer-queensland-nickel-worse-than-perilous/7007628

 

[noco]

The Clive-size question is when it's real and not another bluff,



http://www.abc.net.au/news/2015-12-07/clive-palmer-queensland-nickel-worse-than-perilous/7007628

I would not trust him as far as I could throw and that would take some doing.

He has plenty of assets to sell to enable him to keep the refinery open but as I said before, IMHO he wants to close it down for fear of an environment hazard which could take place during the wet season.......The State Government has been at him for years to do something about it. ....This financial crisis It is just an excuse.

 

[drsmith]

Bluff or not, the judge has, unsurprisingly, called it.

Hundreds of jobs at Queensland Nickel's Townsville refinery could be lost after a West Australian judge dismissed Clive Palmer's bid for $US48 million from his estranged Chinese business partner, CITIC Pacific.

Earlier today, the WA Supreme Court heard that unless that bid was successful, Queensland Nickel would go into administration tomorrow.

In handing down his findings, Justice Paul Tottle said the application was "highly unusual" because Mineralogy was seeking a payment in a dispute which had not been through the court process.

http://www.abc.net.au/news/2015-12-07/clive-palmer-queensland-nickel-worse-than-perilous/7007628

 

[noco]

Bluff or not, the judge has, unsurprisingly, called it.



http://www.abc.net.au/news/2015-12-07/clive-palmer-queensland-nickel-worse-than-perilous/7007628

Doc, his chickens are now coming home to roost......He deserves all he gets.

Even if he closes the nickel refinery there could still be an environmental disaster waiting to happen if we have a big wet season in the north and who will pay for the clean up?????

http://www.theaustralian.com.au/new...50d91aff3?sv=aaa712cc30264d2494d42e5d43b35bb5

Clive Palmer’s nickel refinery has been accused of recklessly breaking environmental rules and *allowing a dam full of contaminated water to overflow during a cyclone last year.

Queensland Nickel is being prosecuted in Townsville Magistrates Court for wilfully breaching its environmental auth*ority at its north Queensland site.

The court case could not come at a worse time for Mr Palmer and his cash-strapped refinery, which was bracing last night for hundreds of job losses.

Jeff Hunter QC, for Queensland’s Department of *Environ*ment and Heritage Protection, yesterday told a committal hearing the company allegedly poorly managed a tailings dam containing wastewater for months, recklessly taking risks ahead of the 2013-14 wet season. No environmental damage was caused, but the spill into an effluent pond in April 2014 was “specifically prohibited” by the government-*issued envi*ron*mental authority and should never have occurred.

Mr Palmer met departmental officials as early as September 2012 to discuss water management at the site, but by the end of 2013, the court heard, there were still problems with the tailings dam.

A byproduct of the refinery is water contaminated with chemicals and fine particles. The wastewater is kept in a tailings dam, which must have enough capacity to cope with heavy wet seasons.

In February last year, Cyclone Dylan hit Townsville, bringing 200mm of rain and filling the tailings dam. The company reported the problem to the department. In April, Cyclone Ita hit. The tailings dam overflowed into the effluent pond, releasing up to 21 megalitres each day. “It’s simply a breach of the environmental authority,” Mr Hunter said.

The company installed large fans to help evaporate the waste*water, a measure Mr Hunter said should have been taken much *earlier to prevent the spill in the first place. He said two cyclones in such proximity was not unheard of for a wet season in north Queensland.

Queensland Nickel is fighting the charges. It is expected to argue the overflow was inevitable after two cyclones in the 2013-14 wet season. The hearing continues.

 

[noco]

This wind bag is as corrupt as the unions.

He won't accept a loan from the state government, he won't sell his assets to save the refinery and he does not care about his workers......He is using a wedge to close the place down and it is not only a financial loss being incurred but the millions he will have to spend on the taillings dam....So close the place down which means less polluted water goes in with the hope the hot weather will evaporate the dams to a lower level to cope with a wet season.

OMG what sort of a person is this bloke?

http://www.theaustralian.com.au/new...t/news-story/6868a8888b4a013e9c700a2f8934770c