Business

Palmer made million dollar payment to Kurdish woman: court

Clive Palmer arrives at the Federal Court in Brisbane, Wednesday, Feb. 15, 2017. Liquidators are resuming their examination of the former federal MP over the collapse of Queensland Nickel.
Clive Palmer arrives at the Federal Court in Brisbane, Wednesday, Feb. 15, 2017. Liquidators are resuming their examination of the former federal MP over the collapse of Queensland Nickel. Dave Hunt / AAP Image

UPDATE: CLIVE Palmer says he gave his Bulgarian father-in-law $8 million USD from Queensland Nickel's coffers in 2012 "in exchange for natural love".

Mr Palmer is being grilled in the witness box about a series of transfers he ordered from QN's bank accounts in 2012, which were detailed in an email to the company's chief financial officer, Daren Wolfe.

One of the payments was to his father-in-law in Bulgaria, and totalled $8 million USD.

"I would have given that to him in exchange for natural love," Mr Palmer explained.

Barrister Walter Sofronoff QC, acting for the liquidators, also questioned a $15 million payment Mr Palmer ordered to be transferred to his own bank account in Hong Kong.

"Well it could have been for parties or something, I don't know," he replied.

"...$15 million pales to insignificance compared to the support I was giving those companies."

Mr Palmer went on to say an audit was conducted that year by Ernst and Young and the payments would have been declared in the company's tax returns.

Other payments included $1 million to a woman in Kurdistan, $4 million to a woman in China and $15 million to a resort in Bora Bora, which Mr Palmer said he owns.

He said the resort was formerly a Club Med, but he now used it as a private retreat and would "pop over for weekends".

Mr Palmer is continuing to give evidence at the public examination into QN's collapse in the Federal Court in Brisbane this afternoon.

EARLIER: CLIVE Palmer has arrived at the Federal Court in Brisbane to be grilled over the collapse of Queensland Nickel, declaring Prime Minister Malcolm Turnbull will "have his day in court" too.

The mining magnate will return to the witness box after giving evidence last year at the public examination, which aims to claw back money for creditors including about $70 million owed to taxpayers.

Outside court this morning, Mr Palmer crowed about his proposed defamation lawsuits against Mr Turnbull and Employment Minister Michaelia Cash.

"Malcolm Turnbull will have his day in court to tell the Australian people what really happened about Queensland Nickel and Senator Cash will have her time in court too to make her explanation," he said.

PHOTOS: Clive Palmer arrives at court on Wednesday (Best viewed fullscreen)

When asked why he launched an application last week to get out of giving evidence today, Mr Palmer said it was "fake news", despite lodging affidavits in support of the application and his barrister telling the court it was "inconvenient" for him to return.

He said it was "pleasing" what has happened with the investigation into Queensland Nickel's collapse so far.

" ... The truth is coming out," he said.

North Queensland's biggest private employer collapsed into voluntary administration in January last year, and almost 800 workers lost their jobs.

Clive Palmer's evidence has been adjourned to 2.15pm today.

The court was told discussions were taking place "about settling the administration".

Topics:  clive palmer editors picks malcolm turnbull queensland nickel

News Corp Australia

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Hey! Twist and Shout with Lady Beatle

ABOVE: Artist Naomi Price in Lady Beatle, a show featuring music from hit UK band The Beatles.

Naomi Price brings her new music show to NORPA

Elephant in the room at LRG

ON THE CASE: Peggy in LRG Portal with elephant from 'Arrival of the Circus' painting by Edna Jane Mckenzie.

Elephant in the room or in the portal at Lismore Regional Gallery

Taz wants to find his true identity

FOREVER HOME: Is Taz the dog for you?

Taz wants to find his true identity

Local Partners