Palmer sues former QNI administrators for $1 billion

Clive Palmer has filed a claim in the Supreme Court seeking more than $1 billion in damages from FTI Consulting, the former administrator of his Queensland Nickel business, the ABC reports.

Mr Palmer indicated last month he would take legal action over the way FTI Consulting handled the failing Townsville refinery.

FTI was appointed to run the refinery in January, but Mr Palmer sacked the firm several weeks later.

FTI has previously indicated it would fight any legal action and this afternoon a spokesman declined to comment on the matter.