How will Nathan Tinkler's racing empire fare if a report in The Age is correct? It says he is on the brink of a financial wipeout. The Age says: 'Coal baron Nathan Tinkler yesterday edged closer to the brink of financial disaster after failing to comply with a court order to pay Mirvac about $17 million to settle a property deal. Two of Mr Tinkler's private companies agreed to buy an industrial site in Newcastle from Mirvac in July 2011 but failed to settle after the New South Wales government k
How will Nathan Tinkler's racing empire fare if a report in The Age is correct? It says he is on the brink of a financial wipeout. The Age says: 'Coal baron Nathan Tinkler yesterday edged closer to the brink of financial disaster after failing to comply with a court order to pay Mirvac about $17 million to settle a property deal. Two of Mr Tinkler's private companies agreed to buy an industrial site in Newcastle from Mirvac in July 2011 but failed to settle after the New South Wales government knocked back his plans for a fifth coal export terminal at Mayfield. Mirvac sued and on August 1 the Supreme Court of NSW ordered Tinkler's Ocean Street Holdings and guarantor the Buildev Group to complete the purchase, stipulating an effective deadline of 5pm yesterday. A spokesman for Mirvac yesterday said despite the court order, ''settlement did not take place''.