Clive Palmer pursues $40 million payout from Queensland Legal Fidelity Fund

Billionaire mining magnate Clive Palmer is seeking additional compensation from the Queensland Legal Practitioners’ Fidelity Guarantee Fund after a Supreme Court of Queensland judgment awarded his company Mineralogy $28 million. The court found former solicitor Sam Iskander liable for misappropriating tens of millions of dollars from Mineralogy between 2016 and 2022, describing his conduct as “the most egregious” case the state had seen.

Palmer’s claim on the Fidelity Fund, administered by the Queensland Law Society, estimates total recovery at about $40.3 million, covering the court‑ordered award and potential further losses, including seized gold bars and properties linked to the alleged fraud. Iskander is now bankrupt and his related entities are in liquidation, while the final outcome of the recovery action remains uncertain.