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Liquidators apply to freeze assets of Nathan Tinkler

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May 22, 2013 12:33:35

Companies who claim they are owed millions of dollars by former billionaire Nathan Tinkler have applied to have his assets frozen.

The application comes as Mr Tinkler puts his multi-million-dollar Queensland home, as well as racing operation Patinack Farm, up for sale.

The action has been brought by liquidators acting on behalf of one of Mr Tinkler’s companies, Mulsanne Resources, and its largest creditor, Blackwood Corporation.

The application is also hoping to freeze the assets of Mr Tinker’s wife and the family’s trust.

If the liquidators are successful in their application, the asset freeze would apply until the legal proceedings are determined, with the aim of preventing Mr Tinkler or his family trust from moving those assets beyond the reach of the plaintiffs if they ultimately obtain a judgment in their favour.

The application for the asset freeze order, known as a Mareva injunction, has been lodged in the NSW Supreme Court and relates to a case launched on May 2 against the directors of Mulsanne, which alleges they traded while insolvent and breached their duties as directors.

Topics:
business-economics-and-finance,
coal,
courts-and-trials,
australia

First posted

May 22, 2013 12:21:34

Liquidators apply to freeze assets of Nathan Tinkler
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