QUEENSLAND NICKEL ENTERS VOLUNTARY ADMINISTRATION

Written on the 18 January 2016

QUEENSLAND NICKEL ENTERS VOLUNTARY ADMINISTRATION

CLIVE Palmer's embattled business Queensland Nickel has been placed into voluntary administration, days after sacking 237 employees.

Operations have been handed over to administrators John Park, Stefan Dopking, Kelly-Anne Trenfield and Quentin Olde of FTI Consulting.

Queensland Nickel managing director Clive Mensink says it will be business as usual and believes the company will be able to trade out of administration.

"It is my understanding that the administrators will be in contact with all stakeholders and the operations of QNI will continue on as usual," Mensink says.

"From our perspective it is business as usual and employees of QNI will continue productivity at this difficult time.

"QNI plays an important role in North Queensland's economy and I believe that will remain the case in the future once restructuring is completed in this volatile commodity environment."

Mensink has previously accused the Queensland Government of turning its back on the company, after the Chinese Government injected billions into its metal industry and the Canadian Government waived electricity costs as an incentive.

He blamed the state's lack of support on Queensland Nickel's decision to cut its workforce last Friday.

It follows news the company donated $288,516 to the Palmer United Party, according to paperwork from the Electoral Commission of Queensland lodged on December 31.

 


Latest News

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

ANSELL'S SHARE PRICE SWELLS AFTER SALE OF CONDOM BUSINESS

IT'S one of Australia's most successful and enduring manufacturing success stories and the Ansell condom busi...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

SIGMA'S SHARE PRICE TAKES A BATTERING AS IT LAUNCHES LEGAL ACTION OVER SUPPLY DEAL

SIGMA Healthcare (ASX: SIG) has taken the MyChemist and Chemist Warehouse chains to court to demand they continue to ...

Related News

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

SIGMA'S SHARE PRICE TAKES A BATTERING AS IT LAUNCHES LEGAL ACTION OVER SUPPLY DEAL

SIGMA Healthcare (ASX: SIG) has taken the MyChemist and Chemist Warehouse chains to court to demand they continue to ...

REGIONAL BANKS HIT OUT AT RATING CUT AND WARN BIG FOUR WILL BENEFIT

REGIONAL banks have hit out at a downgrade on their credit ratings, warning that it will increase their wholesale fun...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter