Media release

Palmer calls on government to set scale for liquidators’ fees

Fresh from victory in the Queensland Supreme Court, Clive Palmer today called on government to limit liquidators and administrators’ fees to give more Australians greater access to justice.
“I was fortunate to be in a position to successfully defend myself, but the same should be true for all Australians,’’ Mr Palmer said.
“I call upon the government to urgently consider setting a scale on the fees liquidators may charge.
“It’s time that we have limits on liquidators’ and administrators’ fees.

“The schedule of fees should be clearly known at the start of any liquidation proceeding. What appears to be the case at the moment, is the fee is whatever is left in the pot, without shareholders or creditors receiving a dollar.

“At present Liquidators are regarded as officers of the court. They have greater advantage above others, and only act to enrich their own pockets with hard-earned taxpayers money and with little or no regard to creditors,’’ Mr Palmer said.

“At the same time they are destroying businesses that could have been saved and stopping much-needed capital flowing through the economy.
“I am calling on the government to launch an enquiry into the liquidation sector so we can move towards a more equitable system for all,’’ Mr Palmer said.