Tinkler liquidator questions on hold
Nathan Tinkler's lawyers have made a last-ditch attempt to stop the liquidators of his Mulsanne Resources examining him and fellow directors in court.
He was to appear in the NSW Supreme Court on Friday morning to be examined over Mulsanne's failure to pay $28.4 million for a major stake in listed coal explorer Blackwood Corporation.
After the matter was adjourned to 2pm for talks between the parties, Mr Tinkler's barrister, Alec Leopold, SC, told the court he would be seeking a stay of the proceedings.
He said the same solicitor had acted on behalf of Mulsanne's liquidator Ferrier Hodgson, Blackwood and a major shareholder.
Mr Leopold also said the liquidator had meetings with Blackwood and the major shareholder. "The liquidator is not acting in the interest of the creditors as a whole," he said.
The liquidator's barrister, Robert Newlinds, SC, said the application was nothing more than a stunt.
He said there was nothing improper about the liquidator meeting Blackwood, or sharing the same solicitor.
The coal company was by far the biggest creditor and others were small claims from other companies owned by Mr Tinkler.
The stay proceedings have been adjourned until Monday, with the public examination of Mr Tinkler and other Mulsanne directors listed for Thursday.
Blackwood sued Mulsanne Resources after Mr Tinkler's company agreed last July to buy a 33.85 per cent stake in it for $28.4 million.
Mulsanne then failed to follow through with the deal.