Administrators have moved to sell assets owned by companies belonging to federal MP Clive Palmer, including a Bombardier Global Express aircraft that is the property of Palmer Aviation, which owes $26 million.

Key points: Creditors vote to liquidate Palmer Aviation

Creditors vote to liquidate Palmer Aviation Cattle property sale proceeds to help Queensland Nickel cash flow

Cattle property sale proceeds to help Queensland Nickel cash flow Nickel refinery needing cash injection of 'tens of millions'

Creditors of Mr Palmer's aviation company met yesterday in Sydney and decided to put it into liquidation.

Liquidators FTI Consulting said the process would start in March.

"At that meeting, creditors resolved to place the company into liquidation, with FTI Consulting to act as liquidators," an FTI statement confirmed.

"The liquidators will now prepare the company's only asset — a Bombardier Global Express aircraft — for sale."

Mr Palmer's 6,000 hectare cattle property, Mamelon Station, located north of Rockhampton, will also go under the hammer next month.

Queensland Nickel cash flow critical

FTI Consulting said the proceeds from the sale of the property would go toward the cost of running of the federal MP's Queensland Nickel refinery at Yabulu near Townsville, which is currently under voluntary administration.

It said cash flow for the refinery was a critical issue.

Clive Palmer (right) sits in his $70 million Global Express jet with media adviser Andrew Crook (left) in 2013. ( AAP: Dave Hunt )

Surplus equipment, including trucks from the refinery, have already been sold to improve Queensland Nickel's cash flow.

The Townsville refinery went into voluntary administration last month, just days after it laid off more than 237 people.

John Park from FTI Consulting said on January 29 the company was more than $100 million in debt, with 1,500 creditors and more than $30 million owed in outstanding employee entitlements.

At that time, Mr Park estimated that Queensland Nickel would need a cash injection of tens of millions of dollars to continue trading beyond April 30.

He said for the 2016 financial year, the company was forecast to produce approx 60 million pounds of nickel at a cash loss of 50 US cents per pound.

Future of other Palmer assets unclear

It is not yet clear whether other assets from Mr Palmer's business empire will go on sale to provide funds for Queensland Nickel.

It is understood money from Queensland Nickel helped pay for vintage cars and dinosaurs at the Palmer Coolum Resort on Queensland's Sunshine Coast, which closed its doors in March last year.

The Palmer Motorama Vintage Car Museum opened in late 2013 with 100 cars, many from Mr Palmer's private collection. ( ABC News: Bruce Atkinson )

At that time, Mr Palmer announced plans for a major refurbishment of the resort.

However, Sunshine Coast Council has received no development applications for the property.

Local councillor Steve Robinson said Mr Palmer's financial difficulties made it increasingly unlikely the resort would ever return to be the "jewel in the coast's tourism crown" it had been before Mr Palmer bought it.

The resort's golf course, which once hosted the Australian PGA tournament, remains open.

Cr Robinson said the council had offered to help Mr Palmer but he has had minimal contact.

He said the golf course could not be touched, but if Mr Palmer wanted to subdivide part of the resort council would consider all requests.

Mr Palmer has also been locked in a bitter battle with villa owners at the resort.

When contacted by the ABC, Mr Palmer said he was busy in Federal Parliament and could not comment until Friday.