Palmer's Qld Nickel to be liquidated to repay massive debt
CREDITORS of Clive Palmer's Queensland Nickel have voted to liquidate the company, a fortnight after administrators made the recommendation amid crippling debt.
Creditors, which includes 800 sacked workers, agreed at a meeting in Townsville to wind up the company.
Administrators told the meeting that liquidators will now be able to pursue Clive Palmer for debts owed.
Workers are owed more than $70 million but the meeting has been told almost $60 million will be covered by the Federal Government's entitlements scheme.
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