human headline strikes again

Unfortunately the only time we hear news of him is when he's announced he's going to sue someone else in a blaze of publicity (QLD Government, Hyatt, falling out of favour with Lowy and FFA). Could he do any more to scare investors off???.......He might have a valid case but why announce to the world...

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Palmer to sue Hyatt over profits dispute
Updated February 22, 2012 07:20:34

Photo: Clive Palmer alleges the company has been siphoning profits from the resort. (AAP: Dan Peled) Related Story: Clive Palmer launches $8b suit over rail linksMap: QLD
Billionaire mining magnate Clive Palmer is set to sue international hotel operator Hyatt for $60 million.

Mr Palmer bought the Hyatt resort on Queensland's Sunshine Coast last year and on Monday terminated the chain's management agreement for the facility.

He alleges the company has been siphoning profits from the resort and sending the money to the US rather than the resort's owners.

"I wouldn't recommend them to anybody and we're going through the accounts," Mr Palmer said.

"We're most likely about to commit to an action for about $60 million against the Hyatt Group - the money that we think that's been wrongly taken over the last 30 years.

"That's in preparation with our lawyers and we'll be pursuing them."

The Hyatt Group says it strongly disagrees with Mr Palmer's claims and is considering its legal position.

Earlier this month Mr Palmer announced an $8 billion lawsuit against QR National alleging political interference in a proposed Queensland coal project.