Receivers have been appointed to a Nathan Tinkler-linked firm, Aston Metals Group, after Mr Tinkler failed to pay off debts related to the mining company.
Aston Metals is an unlisted copper explorer with tenement holdings in the Mount Isa region of north-west Queensland.
Receivers John Park and Quentin Olde of FTI Consulting were appointed by Madison Pacific Trust Ltd in its capacity as security trustee over all the secured property of Aston Metals.
"Aston Metals and Mr Tinkler have received a number of notices over the previous 30 days requesting payment of the debt as per the rights of the secured creditor," the receivers said.
The Walford Creek copper, lead and zinc deposit is the primary focus of Aston Metals.
A spokesman for the Tinkler Group said Aston Metals was a "dormant, speculative investment" held by the group and other shareholders. "Our main joint venture partner, Orchard Capital Partners in Hong Kong, is experiencing financial difficulties in one of its funds and as a result, took the unexpected decision to place Aston Metals into receivership."