Queensland Nickel: What next if Clive Palmer’s company goes into liquidation? – ABC Online

Now that its administrators have recommended liquidation, what happens next for Queensland Nickel, its workers and other creditors? ABC News Online answers the basic questions about what happens as a firm moves from administration into liquidation. What is the difference between administration, receivership and liquidation? If you imagine a troubled business being like…

Queensland Nickel liquidation could see taxpayers fund payouts, Employment Minister says – ABC Online

Taxpayers may have to fund more than $70 million in payouts for Queensland Nickel (QNI) workers if the company goes into liquidation. Key points: Taxpayer-funded scheme would be a last resort Outstanding entitlements are about $73 million Clive Palmer “morally obliged” to pay workers’ entitlements, Michaelia Cash says Administrators FTI Consulting recommended winding up…

Creditors recommend Clive Palmer’s Queensland Nickel be liquidated due to debts in excess of $100m – The West Australian

Yahoo7 and Agencies on April 12, 2016, 8:20 am Video Clive Palmer goes head-to-head with Kochie Clive Palmer’s company Queensland Nickel has been recommended to go into liquidation after creditors reported debts in excess of $100 million. FTI Consulting says it has advised creditors to vote to wind it up at a meeting later this…

Arrium administrator Grant Thornton to be replaced – The Australian Financial Review

Why Arrium collapsed The union representing 2000 workers at collapsed steelmaker Arrium has joined forces with aggrieved lenders to dump the troubled group’s administrator Grant Thornton and install rival corporate undertaker KordaMentha to oversee a painful restructuring. Federal Court Justice Jennifer Davies issued orders appointing KordaMentha’s Mark Mentha, Bryan Webster, Martin Madden and Cassandra Matthews as administrators following Grant Thornton’s resignation a… Read the…

Administrators say Clive Palmer’s Queensland Nickel should be liquidated – Business Insider Australia

A report by administrators FTI Consulting into the solvency of Clive Palmers Queensland Nickel refinery near Townsville has recommended the company be liquidated, ahead of a creditors meeting next Friday. The creditors will meet on April 22 to decide whether to place the company into liquidation with debts in excess of $100 million, including more…

Arrium placed in voluntary administration | The Border Mail – The Border Mail

File pic RELATED: Australian Workers’ Union to fight for Whyalla Steelworks READ THE STATEMENT: Scroll down Embattled steel and mining group Arrium has been placed into voluntary administration, following discussions with its lenders. The appointment comes just days after Arrium’s banking syndicate rejected a recapitalisation proposal from US group GSO and follows prolonged talks between the…

Clive Palmer’s Queensland Nickel should be liquidated, administrators tell creditors – ABC Online

Clive Palmer instructed Queensland Nickel to pay him nearly $15 million and the troubled company spent millions more on vintage cars, a report by administrators has found. Key points: Creditors to vote on whether to liquidate Queensland Nickel, after administrators recommend it Company owes about $74 million to sacked workers Report says vintage cars…