That sinking feeling as more get on board for Whale hunt
HAS the young businessman affectionately known as ‘‘the Whale’’ finally beached?
That was the question yesterday as new creditors came out of the woodwork trying to extract money owed by former Newcastle electrician-turnedmining entrepreneur Nathan Tinkler, a man who at his peak was worth reported $1.1 billion.
Tinkler’s extensive coal, property rugby league and horse racing empire edged closer to the brink of collapse after Queensland coal explorer Blackwood confirmed it would pursue him in the courts for $28.4 million owed from a promised equity placement.
‘‘I can tell you Blackwood is currently going through the motions to take this
a matter to court,’’ a group spokesman said. ‘‘They want their money.’’
The giant Mirvac property group also confirmed yesterday that it was taking Tinkler’s Buildev group to court to recover $17 million from a failed property deal over industrial land at Newcastle, which was to have been part of a failed coal shipping terminal.
Also, Tinkler’s Patinack Farms are believed to have run up hundreds of thousands of dollars worth of debts in Canungra and Beaudesert. Patinack management did not return calls yesterday. Tinkler was in Singapore and not returning calls to his mobile.
Tinkler became the owner of the Knights last year, and was hailed as the club’s financial saviour, with his dollars helping lure Wayne Bennett as coach.