Mining businessman Clive Palmer yesterday settled a large chunk of the $200 million lawsuit over the collapse of Queensland Nickel.
The deal announced in the Brisbane Supreme Court is understood to be around $110 million, including a $66 million repayment of the taxpayer funds used for workers entitlements when the Townsville refinery collapsed in 2016.
Special-purpose liquidator Stephen Parbery says the settlement also secures payment for the majority of unsecured creditors in full, plus all other outstanding entitlements.
The trial continues on Thursday to hear the general-purpose liquidator’s claims, which are understood to be worth more than $100 million.