My wife controls our finances: Palmer

Businessman Clive Palmer has boasted of his collection of assets in court before claiming he lives a frugal life dictated by his finance-controlling wife.

Clive Palmer leaves the Federal Court in Brisbane

Businessman and former federal MP Clive Palmer is expected to return to court in Brisbane. (AAP)

Businessman Clive Palmer has boasted about amassing wealth and collecting assets before claiming he lived a frugal life at the hands of his financially controlling wife.

The former MP's braggadocio also came after Mr Palmer had an unnamed staff member read out a statement lambasting the high price of legal representation as he arrived at the Federal Court in Brisbane to be grilled over the collapse of Queensland Nickel.

"How can they have this and how can justice be served when one party is able to fund expensive litigation while another can't afford any representation at all?" the statement said.

"The government of Australia needs to act to ensure justice is available, not just justice for the few who can afford it, but the many who need it."

In the witness box a short time later, he responded to a question about the ownership of numerous aircraft by saying he enjoyed accumulating assets.

"I don't normally sell anything ... I'm a collector, I like to amass wealth and keep it, you never know when a rainy day is coming, a liquidator could be knocking on your door," he said.

He also spruiked his ability to quickly raise cash, saying he could "put out a request on the internet and funds will be flowing in".

Responding to a question about property assets, Mr Palmer said: "Nothing is mortgaged, we don't need to mortgage."

The former MP told the court one of his companies, Mineralogy, relied on two incomes: mining royalties and "loans from me".

"The legal profession, they seem to be our biggest expense ... It's a pleasure to spend the money," he said.

He also claimed his office had been hacked by Chinese cleaners who then sent files to Beijing and that his wife, Anna, who was examined about her role as a Mineralogy director, was in charge of "financial things".

"I'm just a pawn in her hands ... I live a frugal life," he told the court.

Mr Palmer has appeared dishevelled in previous hearings, carrying a vomit bag, a breathing apparatus and at times appearing to suffer memory lapses he claimed was a result of taking the pain drug Targin.

He seemed cheerful on Wednesday during two hours of questioning over the collapse of Queensland Nickel in early 2016, with creditors owed about $300 million and almost 800 refinery workers out of jobs, though he continued to carry the sick bag.

Mrs Palmer, who appeared only briefly, was questioned about her knowledge of company accounts and auditors during the periods she has served as Mineralogy's director.

The court heard her functions were limited to "media, public relations type issues".

"Whether or not to hold a press conference, content, statements issued," she said.

The examination of Mr and Mrs Palmer has finished, though both could be recalled again in future if needed.

Mr Palmer sipped from a fruit-flavoured beverage commonly used to manage malnutrition as he left the court and responded to questions about why he had failed to pay Queensland Nickel workers' entitlements by reiterating claims the costs were incurred prior to his taking over the company.


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Source: AAP



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