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From the AFR:
Nathan Tinkler’s Hunter Sports Group could be placed in liquidation after the Australian Tax Office launched court action over unpaid debts of nearly $2.7 million placing further pressure on the mining executive’s crumbling empire.
…While Mr Tinkler’s financial position is unclear, industry sources have indicated he has loans of around $700 million against his 21 per cent stake in Whitehaven Coal, including accrued interest. That means there is potential for it to be repossessed by lenders such as hedge fund Farallon Capital.
Newcastle Jets and Knights are in the gun though the group claims otherwise. Tinkler has already lost his private jet and helicopter, apparently. The big boys toys unwind.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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