Anna Alexandrova Palmer has told a court she has no memory of why 130m Swiss francs was transferred to a Bulgarian company owned by her husband, Clive Palmer.

Nor could she explain $40m being transferred to Palmer’s United Australia party.

The two transactions by Mineralogy, while Anna Palmer was sole director of her husband’s flagship mining company, were revealed as she gave evidence in the federal court in Brisbane on Friday.

Anna Palmer, a chartered accountant and lawyer, faced the court for the second time to answer questions about her role with Mineralogy between 2016 and 2018, having done so last week.

Her appearance has been required as part of a dispute between Clive Palmer and liquidators for his Queensland Nickel refinery in Townsville. It collapsed three years ago, leaving creditors hundreds of millions of dollars out of pocket.

The court heard Mineralogy transferred to Palmer’s Bulgaria-registered Palmer Investments Limited the sum in Swiss francs, with repayment not required for 50 years. It would also pay interest – negative interest – to PIL for the transaction.

“You tell me how that can be to the benefit of Mineralogy,” barrister John Peden, for the liquidators, said.

“I can’t remember exactly because it was a long time ago,” Anna Palmer responded. She went on to speculate that the company was “diversifying its asset position”.

“In 50 years’ time? … Are you serious?” Peden said.

“Yes, I am serious ... The life of the company’s infinite,” she said.

Asked what happened to the money, she said she didn’t know because “I’m not a director of that company”.

Anna Palmer also said she “didn’t know anything about” the donation to UAP but had “heard that Mineralogy has donated some money”.

She denied a suggestion it was a “gift” to her husband which was logged as a political donation.

Peden questioned whether a $23m advance to “CFP” – Clive Frederick Palmer – from Mineralogy was Palmer “repaying a loan to himself”.

Last week, Anna Palmer denied a comment by her husband in 2017 suggesting she was in control of the couple’s finances and he was “ just a pawn in her hands”. “I think that was just a throwaway funny comment. I think he was being humorous,” she said.

Queensland Nickel left 800 workers out of a job and owes millions as a result of its failure.

Liquidators will attempt to claw back some of that money in a Brisbane supreme court trial starting in July.