Tinkler warned over failure to show
A warrant for the arrest of Nathan Tinkler (pictured) will be issued in the NSW Supreme Court today if he fails to appear for an examination by the liquidator of his private entity, Mulsanne Resources.
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.
Blackwood confirmed on Wednesday that while talks had been held with Mulsanne Resources, there had been "no offer capable of acceptance in respect of a takeover offer or other control proposal for shares in the company".
A spokesman for Blackwood said that although all settlement negotiations ceased while the abuse of process claim was heard, the "lines of communication remain open" and talks with Mulsanne were continuing.
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.
She said the liquidators' barrister, Robert Newlinds, SC, would lead the examination, initially focusing on the share placement agreement, but questioning could extend to Mr Tinkler's personal financial position.
"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," Ms Duggan said. "If an arrest warrant is issued and Mr Tinkler is not in the country, police would place a watch on him at ports and airports and he would be arrested on arrival.