Federal MP Clive Palmer has again denied any wrongdoing in a financial dispute with a Chinese mining company, rejecting new media reports the company's cash was siphoned to a Brisbane media firm during last year's election campaign.

CITIC Pacific has submitted 15 applications to the Queensland Supreme Court asking Mr Palmer to explain how he spent $12 million allegedly taken out of a fund that was set up to run a port at Cape Preston.

The Australian newspaper has reported that documents lodged in court allege that more than $2 million was paid to a Brisbane media firm that produced advertising material for Mr Palmer during the federal election campaign.

Mr Palmer told Channel 7 the newspaper report was unfounded and biased.

Asked on Sunrise whether he had done anything wrong, Mr Palmer said: "No, of course not.

"Every day you've got a new story in The Australian. My popularity has increased the more they do it. Rupert Murdoch controls all of our media.

"That's just a complete untruth. This is the sort of thing you get from the Murdoch press because after all they're desperate to protect the Prime Minister and the Government from scrutiny."

Palmer United Party (PUP) Senator Jacqui Lambie said she did not know anything about the claims.

"Clive Palmer's a pretty honest bloke," Senator Lambie said.

"These sort of accusations have been going on for a while but I haven't seen any evidence go up to the Australian Federal Police.

"So ... if you've got evidence please present it - other than that, shut up."

CITIC Pacific is a majority state-owned Chinese company listed on the Hong Kong stock exchange, which is developing the massive Sino Iron project in Western Australia on Palmer-held leases.

The project represents the largest ever Chinese investment in Australia.