ASIC unravels Queensland Nickel collapse

The corporate watchdog has a shopping list of reviews as it tries to unravel the collapse of Clive Palmer's Queensland Nickel.

It wants to establish the reason for the company's failure, potential conflict of interests by senior company officials, corporate donations, unpaid employee entitlements, shadow directorships and various issues around its financial reporting.

"We just want to ensure that where decisions have been made that they have have been made in the best interest of Queensland Nickel," Australian Securities and Investment Commission official John Price told a Senate estimates hearing on Thursday.