CITATION  QSC 107
JUDGE/S BOND J
Application by Parbery, as liquidator of Queensland Nickel Pty Ltd, for freezing orders against QNI Metals, other companies controlled by Clive Palmer, and Mr Palmer himself.
The court granted the orders, being satisfied that there was a ‘real risk’ that defendants could take action to frustrate a judgment by disposing of assets.
Among many other arguments, the defendants contended that the existence of security interests over their assets, with PPSR Registrations, would prevent an improper disposal of assets (and so there was no need for the orders). The court did not accept the contention. Alternatively, if the contention were correct, then there should be no objection to granting the orders as they would only be restricting actions that the defendants contended they were unable to take.
The summary of the pertinent points in this legal case update has been provided by Steve Pemberton, Lawyer and Consultant, as an extract from his digest of PPSA cases.