Tinkler due to appear in court
A spokesman for Mr Tinkler did not return calls on Wednesday but the former billionaire was due to fly in from Singapore to attend the court and face questions over a $28.4 million debt Mulsanne owed to listed coal explorer Blackwood Corporation under a share placement agreement reached last year.
Attempts to settle the dispute - including an unfunded 30¢ a share takeover offer from Mr Tinkler's Singapore-based Cayenne Coal - have so far failed, and on Tuesday Mr Tinkler's attempt to stop the examination proceedings over an alleged "abuse of process" were dismissed as "tenuous" by Justice Paul Brereton, with indemnified costs awarded to the liquidator.
Mulsanne liquidator Robyn Duggan, a partner at Ferrier Hodgson, said Mr Tinkler would be first up for examination, followed by company secretary Aimee Hyde and co-directors Matthew Keen and Troy Palmer.
Ms Duggan said the liquidator's barrister, Robert Newlinds, SC, would lead the examination, initially focusing on the share placement agreement, but that questioning could extend to Mr Tinkler's personal financial position.
"In the event we form a view that there have been breaches of the Corporations Act, then we'll need to consider the directors' personal financial position to ascertain their ability to meet any claim for compensation," she said.
"If we attend court tomorrow and we call on Mr Tinkler as first examinee and if he fails to attend, he will be in contempt of court and we will be within our rights to ask the court to issue a warrant for his arrest."
Frequently Asked Questions about this Article…
Nathan Tinkler is due to attend a public examination in the NSW Supreme Court by the liquidator of his private company Mulsanne Resources. If he fails to appear, the court may be asked to issue a warrant for his arrest and he could be held in contempt of court.
The liquidator is examining Tinkler and Mulsanne Resources over a dispute tied to a share placement agreement, including a $28.4 million debt Mulsanne allegedly owed to listed coal explorer Blackwood Corporation. The examination will probe that agreement and may extend to related matters.
According to the article, Mulsanne Resources allegedly owes $28.4 million to Blackwood Corporation under a share placement agreement reached last year.
If Tinkler fails to attend when called as the first examinee, the liquidator can ask the court to issue a warrant for his arrest and he could be found in contempt of court, based on the liquidator's statement to the court.
After Nathan Tinkler, the liquidator intends to examine company secretary Aimee Hyde and co-directors Matthew Keen and Troy Palmer as part of the public examination process.
Yes. The article says attempts to settle have so far failed, including an unfunded takeover offer of 30 cents a share from Tinkler's Singapore-based Cayenne Coal. Tinkler also tried to stop the examination proceedings, but that bid was dismissed by Justice Paul Brereton as 'tenuous.'
The liquidator’s barrister, Robert Newlinds SC, will lead the examination. He will initially focus on the share placement agreement connected to the $28.4 million claim, though questioning could extend to other areas.
The liquidator said that if they form a view that there have been breaches of the Corporations Act, they will consider the directors' personal financial positions to determine their ability to meet any claim for compensation.
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