Clive Palmer confirmed today he would be commencing legal proceedings against Channel Nine and its program A Current Affair and reporter Chris Allen over a damaging and untrue story about villa operations at his Sunshine Coast resort.
Mr Palmer said the program had acted disgracefully in its handling of the matter, leaving him with no option but to pursue legal action.
“The fact of the matter is that directors of the time share business have acted in breach of the Corporations Act.
“There was an ongoing failure of the directors to register the time sharing scheme as a managed investment as required by law.
“The potential liability of the resort and the owners of the resort that may have arisen from being involved with the unlawful operation of the unregistered time-sharing scheme is the reason why operations have ceased since 2012,’’ he said.
“Clearly ACA has no interest in doing its research or reporting the facts. It has presented complete lies in its handling of this issue, resorting to sensationalism to sell advertising,’’ Mr Palmer said.
Mr Palmer said he was also considering legal action against property owner Chris Shannon, pending advice from his lawyers later this week.