SKIP TO MAIN CONTENT

Report looms on Qld Nickel's future

Creditors of Clive Palmer's Queensland Nickel enterprise are about to learn if administrators believe it should be wound up.

Federal member for  Fairfax Clive Palmer
Federal member for Fairfax Clive Palmer Source: AAP

1 min read

Published

Updated

Source: AAP


Skip to article content

Creditors of Clive Palmer's beleaguered Queensland Nickel will learn on Tuesday if administrators want it wound up.

FTI Consulting will make recommendations on any liquidation or restructure of the company on Tuesday, before creditors meet to vote on those recommendations in Townsville on April 22.

At an initial creditors' meeting in January, FTI Consulting's John Park said Queensland Nickel's debt stood at about $100 million.

The company was placed in voluntary administration earlier that month after an initial 237 workers were sacked and a further 550 jobs have gone since then.

FTI Consulting no longer controls the refinery after Mr Palmer moved in March to sack it as managers of the plant.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

He set up a new company, Queensland Nickel Sales (QNS), to take control of the refinery and has said he hopes to resume operations from July.

QNS is owned by Mr Palmer's companies, QNI Resources and QNI Metals, which own Yabulu's refinery assets.


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world