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Thread: Politics

Author Image Gerry Patterson. The world's most humble blogger
When you have eliminated the impossible, whatever remains, however improbable, must be the truth.

ASIC Starts Proceedings Against Clive Palmer

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Date: Fri, 17 Jul 2020 23:00:00 +1000

Clive Palmer charged over breaches of directors’ duties and fraud.

The ASIC website reports that Clive Palmer has been charged with contravening the Corporations Act by the dishonest use of his position as a directer and fraud by dishonestly gaining a benefit or advantage.

Mr. Palmer and his party (PUP) had a high profile during the 2019 Federal Election, during which he spent an estimated $84 million on advertising, many of them attack ads targetted at Labor. There was considerable media attention given to the fact that Mr. Plamer had been able to find the money despite the fact that his company Queensland Nickel had collapsed 3 years earlier and left debts in excess of $300 million which included workers' entititlements that to date have not been paid. Although he did not gain electoral success as a result of compaign, it is probable that it damaged Labor's prospects in the Queensland.

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