Join our daily newsletter At The Bell to receive exclusive market insights
- The WA Government has introduced emergency legislation into Parliament in an attempt to circumvent a $30 billion lawsuit from Clive Palmer
- The $30 billion claim amounts to the State’s entire annual budget and would cost each West Australian $12,000
- Palmer’s lawsuit relates to the former WA Liberal Government’s 2012 refusal to assess his proposed Balmoral South iron ore mine
- The billionaire is now seeking damages for the losses he and his business suffered following the 2012 decision
- But Palmer denies he is seeking a total of $30 billion and instead has accused the WA Government of turning him into a villain
A $30 billion legal stoush is brewing between the WA Government and Clive Palmer, bigger than the two parties’ ongoing border dispute.
The fight relates to the 2012 decision by the previous State Government to knock back Palmer’s proposed Balmoral South iron-ore project.
Now, the WA Government claims the billionaire miner and his businesses are suing for $30 billion in damages.
The lawsuit comes as Palmer continues to fight for WA’s border to be re-opened despite the COVID-19 pandemic, taking the WA Government to the High Court of Australia in order to have the closure dissolved.
Billion-dollar lawsuit
The latest fight between Palmer and the WA Government began last night, when standing orders were suspended in the Legislative Assembly.
The move allowed WA Attorney General John Quigley to introduce emergency legislation aimed at circumventing Palmer’s claim.
The billionaire and his businesses are seeking damages from a 2012 decision, which affected its ability to sell its iron-ore project and caused them considerable losses.
The two parties had been in arbitration trying to resolve the claim, but WA’s Attorney General said there was no guarantee WA would win, thus legislation needed to be introduced in order to protect the state.
John Quigley also argues the $30 billion damage claim would decimate the state, as it amounts to its entire annual budget and would cost each West Australian $12,000 each.
“Even if Mineralogy and International Minerals succeeded in a fraction of their damages claim, this would have serious financial consequences for the State of Western Australia and Western Australians,” he said.
“The Government is taking steps to protect the state from the rapacious nature of Mr Palmer,” he added.
Palmer’s defence
However, Clive Palmer has since lashed out at the WA Government, denying he’s asking for $30 billion in damages.
In an interview with Perth radio station 6PR this morning, Palmer said “there are certainly no orders for $30 billion in damages.”
“The damages have to be assessed and we’re in the process of seeing what is the damages, when they’re saying $30 billion, well that’s their admission, it seems extraordinary to me,” he said.
“It’s extraordinary that the State Government has brought legislation in. I mean the real question to ask is what have they done to justify the outrageous damages?” he added.
Palmer also said the State Government was politicising the fight and had spent the last few months effectively turned him into a villain so as to gain the public’s support.
The legislation they have passed to try and stop me and my company has been done a week after the Premier declared war on me and declared me an enemy of the State.#wapol
— Clive Palmer (@CliveFPalmer) August 11, 2020
The billionaire also warned businesses would be turned-off from working in WA if the amendment is approved, and said it could have serious consequences for residents as well.
“It is a bad sign for Western Australia because you don’t want governments legislating away people’s rights because it acts as a very negative thing for people to invest in the state,” he argued.
