Clive Palmer victorious as WA court dismisses $200m claim
CLIVE Palmer has secured a significant court victory in his battle with Chinese state-owned corporation Citic Limited.
The Supreme Court of Western Australia has dismissed a $200m suit Citic brought against him.
The win follows the findings of the Hon. Justice David Jackson in the Supreme Court of Queensland that claims by Citic against Mr Palmer over an alleged $12million fraud had no substance.
The Hon. Justice John Chaney of the Supreme Court of Western Australia stated in his judgement that claims for restitution by Citic Limited subsidiaries of significant outlays in relation to the mining project would be struck out.
Lawyers for Mr Palmer argued successfully that the basis upon which restitution was sought was simply unarguable.
Mr Palmer in Canberra yesterday said it was a sad reflection that some Chinese Government-owned companies did not honour their contracts.
He alleged that Citic Limited subsidiaries had refused to pay agreed royalties for more than $700 million of concentrate from Mineralogy mining leases.