Clive Palmer says there is no conflict of interest over a trust account holding millions of dollars in entitlements owed to former employees of one of his companies.
The businessman says he has paid $7.16 million into a solicitor's trust account managed by his own lawyer, Sam Iskander of Alexander Law in Brisbane.
The firm also employs his wife Anna Palmer.
Questioned by reporters in Perth on Friday about the independence of the fund, Mr Palmer said it met relevant Queensland Law Society rules.
"It operates independently, it's independently audited and it's covered by those requirements," the mining magnate said.
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He said workers must make a claim proving they worked for his Queensland Nickel company before they can be paid.
"They can do that relatively easily and the solicitor expects the payments will start flowing next week," he said.
"We've got 69 claimants at the moment and they are being processed."
Mr Iskander told the Courier Mail there was no benefit to the firm or Mr Palmer for processing the owed entitlements.
Hundreds of claims are expected to be lodged by workers who lost their jobs when the business collapsed with massive debts.
But they have only a four-month window to make a claim, after which the money would be returned to his company.
Taxpayers have previously covered $70 million in entitlements for his workers, money the federal government is trying to get back with the help of liquidators.
But Mr Palmer says it is not his responsibility to repay those funds because administrators had refused past offers to keep the nickel refinery open.
