Clive Palmer, the retiring federal MP and chief spender of other people’s money, is suing the administrators of his Queensland Nickel refinery in Townsville for $1.2 billion.

Mr Palmer has issued a statement saying he will take administrators FTI Consulting and senior manager John Park to court over the administration of the Queensland Nickel Joint Venture Agreement by Queensland Nickel.

Queensland Nickel brought it FTI Consulting to oversee the refinery under voluntary administration, but an enraged Mr Palmer soon removed them from their duties.

It was not before FTI made reports alleging Mr Palmer had removed millions of dollars from the failing company. 

Queensland Nickel went into liquidation with over $150 million in debt to creditors.

Mr Palmer says FTI “lied” in their report and attempted to cover up "wrong doing".

He says he will sue, with “causes of action [including] aiding and abetting a breach of trust and causing serious breaches of the Queensland Nickel Joint Venture Agreement by Queensland Nickel”.

“Park has opposed the appointment of a special purpose liquidator by the Commonwealth to cover up his wrong doing and has sought to convince the creditors' committee of Queensland Nickel Pty Ltd [QN] to oppose it,” Mr Palmer said in a statement.

“John Park has done this for one purpose only and that is to hide his criminal actions and diversion of joint venture funding from a new liquidator.

“In short, Park lied in his report as administrator to creditors including the Commonwealth.”

Mr Palmer also blamed the administrators for closure of the refinery.

“It was John Park who caused an unlawful breach of trust and contract disregarding the lawful rights of joint ventures to close the refinery and dismiss the workforce, causing social upheaval to fill his own pockets,” he said.

“Park knows that if he had acted in accordance with the law, the closure and dismissal of the workforce didn't have to happen. Park and FTI need to be brought to account for their actions.

“John Park and FTI have a serious conflict of interest. He should resign as liquidator of Queensland Nickel Pty Ltd in favour of the Commonwealth government-nominated liquidator.

“Park cannot continue to draw millions of dollars in fees while he personally faces serious claims in the Supreme Court of Queensland from the joint venture parties over his disgraceful conduct as administrator of Queensland Nickel Pty Ltd,” Mr Palmer said.