Supreme Court of Queensland dismisses $124 million claim against Mineralogy

Media Release:

IT will be a cold winter for John Park and his overseas liquidator funders Vannin Capital Operations Limited, who will have to bear the costs as the Queensland Supreme Court dismissed their claims of $124 million against Mineralogy today, Clive Palmer said.

This morning in the Supreme Court of Queensland, Justice Debra Mullins ordered that the claims by liquidator James Park against Mineralogy and Clive Palmer be dismissed.

A jubilant Clive Palmer said outside court that the judgement vindicated his faith in the Queensland judicial system.

“It’s a shining example that truth and justice in the final analysis will prevail over lies and innuendo via trial by media,’’ Mr Palmer said.

“It will be a cold winter for John Park, Stephen Parbery and Vannin Capital, who recklessly gorged millions of dollars on liquidations fees and liquidating funding costs.

Mr Palmer said this was the only outstanding monies remaining on the Queensland Nickel claim.

“While the Queensland media has a lot to answer to for the damages caused to me and my business, at this time of so much trouble in the world, let’s put that to the side and concentrate on reopening our economy,’’ Mr Palmer said.

Mr Palmer said he was always confident of not being liable for the $124 million.

“It’s clear that all payments from Queensland Nickel have been paid properly for the purpose of that business.

“The lies against me are unprecedented in Australian history. The stand I have taken was to not allow evil to triumph,’’ he said.

Mr Palmer said the Federal Government needed to look at the rules governing liquidators and ASIC, who sought to disrupt businesses and thousands of Australian lives unnecessarily by activing overzealously for their own notoriety and profits.

“This case has cost Mineralogy millions of dollars and I will seek compensation from James Park and Vannin Capital.

“I will leave no stone unturned. I’m considering a $50 million action against John Park and the overseas liquidator funder Vannin Capital Operations Limited,’’ Mr Palmer said.