Creditors and suppliers unanimously voted to put billionaire Clive Palmer's Queensland Nickel refinery into liquidation.  This will allow them to pursue the mining magnate and politician for the millions of dollars he owes.

The decision to wind up the company comes two weeks after the administrators, FTI Consulting, made the recommendation.  FTI's senior managing director John Park told sacked workers at today's meeting that the federal government's Fair Entitlements Guarantee would cover AU$68 million of the AU$74 million owed to 792 workers.  "But don't worry, the remaining amount will stay as priority creditor," Mr. Park said.  Next week, the Federal Government will ask the courts to appoint a Special Purpose Liquidator to help pursue Mr Palmer for taxpayer funds.

Earlier this month, FTI produced a report saying that Palmer and his nephew and former QN director Clive Mensink had grossly mismanaged the company, with Palmer allegedly using it as a his "personal piggy bank".  Palmer transferred around $43 Million around to his other business interests, including $15 Million to himself.  Queensland Nickel also purchased 60 vintage cars, which ended up at Palmer's Coolum resort's Motorama Museum.  Had this not happened, FTI Consulting believes the Townsville refinery could have survived the drop in nickel prices.