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Blackmac79
21-08-2012, 05:28 AM
Where has the money gone?
BY DONNA PAGE AND NEIL GOFFET
21 Aug, 2012 04:00 AM
WHEN Nathan Tinkler’s building company Bolkm recently sought contractors to work on a major overhaul of its waterfront offices, Hunter tradespeople received the news in disbelief.

“It’s like they are living in a fantasy land where they don’t have a string of unpaid bills stretching all the way across town that is really hurting people,” one sub-contractor said.

This perhaps explains why the company, led by directors Darren Williams and Jon Mead, could paint such an optimistic picture of its future.

Dozens of tradespeople and suppliers stretching from the Hunter to Queensland are owed hundreds of thousands of dollars because the builder is not fully paying its bills.

Since May, three companies have successfully taken legal action against Bolkm to recoup almost $70,000.

One of the creditors, a Queensland plumbing firm, later agreed to have its judgment set aside after Bolkm paid all outstanding debts and legal fees.

A spokesman for related company Buildev Group said earlier this month the developer was ‘‘facing challenging times’’, but had ‘‘great financial support from the Tinkler Group’’.

Recent Bolkm projects include works carried out on Mr Tinkler’s horse stud in Canungra, Queensland, to Newcastle Port Corporation’s $3.4million port centre that opened on Newcastle Harbour earlier this month.

A Port Corporation spokesman confirmed last week it was “making representations” to Bolkm following complaints from subcontractors about “non-payment of accounts”.

Mr Tinkler’s spokesman said last night the job was incomplete and ‘‘Bolkm had not been paid in full as yet’’.

The creditors are all asking one question – where did the money go?

They are also asking how a company backed by self-made mining magnate Mr Tinkler can be in such a financial state that it is unable to pay bills that start from $1200.

The mess is a long way from the 2009 Newcastle Master Builders’ Association awards when Bolkm was recognised for excellence in commercial construction for The Glass House building in Hannell Street, Wickham.

It is this Tinkler-linked building that Bolkm is planning to overhaul before it and Buildev move in.

The failure of Bolkm to pay its bills comes as Buildev was earlier this month ordered by the Supreme Court to complete a multimillion-dollar property purchase at Steel River.

Property and development company Mirvac took Buildev to court after it failed to complete its promised purchase of a block worth as much as $20million.

Mr Tinkler first bought into Buildev in 2009, is now the major shareholder and a director alongside Newcastle lawyer Aimee Hyde and general manager Andrew Dowling. In the past year Bolkm and Buildev have lost 16 staff, with two sacked, two made redundant and 12 resigning.

Newcastle building industry veteran Bob Jeffkins said there was no doubt Bolkm was in trouble.

Mr Jeffkins’s fitout company is owed $17,000 and has employed a debt collector to chase the money.

‘‘I am just glad I got it down to a relatively small amount compared to the figures they did owe us,’’ he said.

‘‘I have no interest in ever doing business with them again, there are many people owed money and it’s just not the right way to do things.’’

Creditors said phone calls and emails regarding overdue accounts were rarely answered.

Former Bolkm shareholder and construction manager Tom Elliot, who was sacked from the company in April, described the builder’s decline as “sad”.

Mr Elliot, who had a 10per cent share of Bolkm, was preparing for a courtroom battle with his former employer later this month, but the matter was settled out of court.

He said for years he enjoyed working for the company, but the charm quickly wore off when it started not paying its subcontractors more than a year ago.

‘‘Newcastle is a small town so unfortunately I still receive calls from subcontractors and consultants chasing money from Bolkm,’’ he said.

‘‘All I can do is just advise them to contact the directors of Bolkm.’’

http://www.theherald.com.au/news/local/news/general/where-has-the-money-gone/2652421.aspx?storypage=0


Creditors hunt for millionaire’s cash
BY DONNA PAGE
21 Aug, 2012 04:00 AM
HE might be one of Australia’s richest men, but Nathan Tinkler has left a trail of debt devastating business owners from the Upper Hunter to Queensland.

The Newcastle Herald spoke to dozens of businesses chasing outstanding debts of more than $1million from Hunter-based Tinkler companies.

They are ordinary people, the majority mum-and-dad businesses, many individually owed close to $100,000.

Some have been forced to remortgage their homes, increase overdrafts or sell their cars because they have not been paid for work or goods supplied.

A spokesman for Mr Tinkler said last night creditors were paid on an ‘‘ongoing basis, as is done by all businesses’’.

The Herald reported yesterday that Mr Tinkler, the former Muswellbrook mining electrician who now lives in Singapore and who is estimated by BRW as being worth $915million, had failed to meet the superannuation payments of workers at his racing company Patinack Farm, in some instances dating back to last November last year.

Maitland building firm Fraser Commercial was placed in voluntary administration earlier this month with Newcastle building company Bolkm, the construction arm of Mr Tinkler’s Buildev Group, the main debtor.

Mitch Fraser said at one stage Bolkm owed his now defunct company more than $200,000, but he managed to get it down to $33,000.

‘‘This is just the absolute tip of the iceberg, people are too scared to speak out because they are desperately hoping to be paid eventually,’’ Mr Fraser said.

‘‘It is unbelievable that this is happening when you look at Tinkler’s high-rolling lifestyle. He bought the Knights and the Jets, but so many people can’t get paid what they are genuinely owed. It’s just wrong.’’

The Herald can reveal that in the past 10 months seven businesses have successfully taken court action to recoup more than $112,000 in outstanding debts from Bolkm and Patinack Farm.

Mr Tinkler’s spokesman said creditors were being paid and with ‘‘many commercial agreements there are disagreements from time to time’’.

With debts mounting and creditors’ calls going unanswered, angry suppliers and stores have placed stop-credit orders on the companies’ accounts.

Others have employed debt collectors and some negotiated to accept Tinkler-company assets in lieu of payment.

Debts range from $1200 to almost $100,000, with some outstanding for more than a year.

Nearly all of the businesses the Herald spoke to were paid some money initially, with the promise of the rest later.

Many even agreed to enter into payment plans allowing Mr Tinkler’s companies extra time to pay, but too often payments were not received.

Roofer Rob Atherton said that last week he was was out of pocket about $50,000 for work he did for Bolkm.

He has not paid himself for more than a month to make sure his employees’ entitlements are up-to-date.

‘‘They just keep telling you ... that it will be paid on this day and that day, it really pisses you off,’’ he said.

‘‘It’s been an absolute nightmare and a real struggle to keep our heads above water and keep going.’’

For many in the embattled building industry the penny only dropped when the dollars stopped.

‘‘They drip feed people in an effort to keep them quiet and keep things ticking over,’’ a former Tinkler employee said.

‘‘It’s the ones who scream the loudest and threaten to take it further who get paid first, it’s a terrible way of doing business. If a business cuts them off, they just move to the next supplier or subcontractor and it all starts again.’’

http://www.theherald.com.au/news/local/news/general/creditors-hunt-for-millionaires-cash/2652419.aspx?storypage=0

2 things have to be asked.

What the **** is going on?

and

Why is he using a queensland plumber when there are a stack of good local ones?

northern_swan
21-08-2012, 07:36 AM
Reminds me more of David Hall of the Breakers ilk.
All the promises, cash flow problems...seen it all before!!!

belchardo
21-08-2012, 08:09 AM
yep, deja vu all over again.

how's that community model coming along Blackmac?

pv4
21-08-2012, 08:17 AM
with all these businesses/sports teams/etc - the dude has a lot on his plate. he'd want to hope he has the right people, doing the right thing, in charge of each respective investment - which i imagine all this fiasco is about rather than him not having money.

Pico
21-08-2012, 09:20 AM
Herald Editorial




Creditors of Tinkler firms
21 Aug, 2012 08:24 AM

FROM the time he burst into the headlines in 2008 as the audacious young magnate who turned a $500,000 punt into a pay cheque of more than $440million, Nathan Tinkler was obviously a determined individual. Subsequent deals turned that original fortune into even greater wealth, to the point where Mr Tinkler was described as a billionaire before his 35th birthday.

Rich beyond the dreams of most mortals, Mr Tinkler lavished hundreds of millions of dollars on the sport of kings, thoroughbred racing. He rescued football franchises the Newcastle Jets and Newcastle Knights from financial difficulties, and considered a revival of GPT’s stalled plans for inner-city revival with his construction and property companies in the Buildev Group.

But from the start, rumours of Mr Tinkler’s robust business methods were never far from the surface.

Some disputes went as far as court, but for the most part, people seemed prepared to dust themselves off after brushes with the Tinkler Group, and to write any losses down to experience.

But not any longer. People are speaking on the record about their dealings with Buildev, Patinack Farm and other Tinkler companies, and complaints have been made to authorities about unpaid superannuation contributions.

The Tinkler Group, not surprisingly, is unhappy with the coverage it’s receiving, but some would suggest it only has itself to blame. While money can bring great opportunity, wealth of the sort that Mr Tinkler lays claim to often carries a corresponding deal of responsibility.

When Hunter Sports Group took control of the Knights and the Jets, Mr Tinkler spoke of wanting to support both clubs for the community, and people were grateful for his substantial input. Unfortunately, however, many of the people who have been owed money by Mr Tinkler’s companies are members of this same community.

They dealt with him in good faith, and, sadly, too many of them have found the experience to be a bruising one.

None of this is to say that Tinkler companies are not valued players in this region’s economy, or that anyone wants to see a clearly talented individual in the spotlight for the wrong reasons.

But a man in the midst of a $5.3billion coal industry takeover should not leave a trail of unhappy creditors behind him, seemingly as though they are of little consequence. If there is another side to this story, then Mr Tinkler should come out and tell it. In the meantime, he might care to remember the old saying about the benefits of treating people well on the way up.
www.theherald.com.au/news/opinion/editorial/general/creditors-of-tinkler-firms/2652545.aspx

Disinterested Bystander
21-08-2012, 09:35 AM
2 things have to be asked.

What the **** is going on?

and

Why is he using a queensland plumber when there are a stack of good local ones?

Judging from the tone of those articles, I imagine he can't use locals because he's pissed them all off by not paying them.

Thomas477
21-08-2012, 09:42 AM
yep, deja vu all over again.

how's that community model coming along Blackmac?

This, we may be needing it sooner than we thought...

snake
21-08-2012, 09:43 AM
yet the bloke is the only way we'd still have a team. praise tinks.

http://i1.kym-cdn.com/entries/icons/original/000/002/686/Deal_with_it_dog_gif.gif

Disinterested Bystander
21-08-2012, 09:47 AM
with all these businesses/sports teams/etc - the dude has a lot on his plate. he'd want to hope he has the right people, doing the right thing, in charge of each respective investment - which i imagine all this fiasco is about rather than him not having money.

Yeah poor Tinks, I hope he's not getting led astray by those nasty advisers. I'm sure he has no idea what his companies are doing. :gent:

On the other hand, it could be that he's built an 'empire' on debt and promises, and those chickens are starting to come home to roost. Look at Boardwalk resources - loaded up with debt, which if the stories about it are to be believed funded Tinkler's lifestyle - then he managed to get Whitehaven to take it all on board in the Aston/Whitehaven merger.

The guy tried to get too big too fast and it's going to end in tears, not for him no doubt, he'll have hidden enough away to avoid having to go back to being a sparky again, but for everyone else who was associated with him.

plague
21-08-2012, 12:34 PM
1. Griff.
2. Tinks.
3. Daylight.


Love ya big fella.

pv4
21-08-2012, 12:36 PM
1. Griff.
2. Tinks.
3. baz
4. Daylight.



fixed

plague
21-08-2012, 12:37 PM
1. Griff.
2. Tinks.
3. Daylight.


Love ya big fella.

Self correction:
1. Griff.
2. Tinks.
3. Con.
4. Daylight.

plague
21-08-2012, 12:39 PM
Whoops, sorry PV4 just saw your edit.
Have only read stories about #1 Superfan, didn't feel qualified enough to include Him on my list.
Feel free to edit accordingly.

moses
21-08-2012, 01:53 PM
he is doing some dough on the horses

http://www.businessspectator.com.au/bs.nsf/Article/Nathan-Tinkler-Patinack-horse-racing-Whitehaven-pd20120821-XCVYH?opendocument&src=rss


Reports yesterday suggested his employees haven’t been paid superannuation benefits since November last year and this follows assertions the business is leaking $500,000 a week.

:blush:

Since its formation, Patinack has seen just five of its horses win at the highest level (group 1). To put that in context, Black Caviar won that many in one glorious autumn. Even a young two-year-old colt named Pierro won three in the month of April this year. That’s not to say winning group ones is an easy task, far from it. But to spend upwards of $300 million, have 1,200 horses and produce five group 1 winners is a massive underachievement

seldom
22-08-2012, 12:38 AM
a big cheerio to the queensland plumbers for my cheap seats

bonjour imposteur
22-08-2012, 12:50 AM
NATHAN TINKLER'S companies have begun paying at least some of their outstanding bills.

After several days of bad publicity about a string of debts, creditors said yesterday they had received some money.

A spokesman for the mining magnate, estimated to be worth $915 million, said last night the companies had spent the past 24 hours ''working towards'' paying outstanding debts.

What he did not say was why it took until now to pay creditors, who in some cases have waited at least a year.
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''The vast majority have been paid in the past 24 hours, which makes your stories redundant. All the people named in your stories were paid,'' he said.

It was reported that dozens of businesses were chasing outstanding debts of more than $1 million from Hunter region Tinkler companies including Newcastle builder Bolkm and racing company Patinack Farm.

Creditor Bob Jeffkins, who employed a debt collector to chase the $17,000 he was owed, was in a state of disbelief.

''Half-a-dozen people rang me to say they got their money through,'' he said. ''They have strung everybody out to the nth degree and it's made things bloody hard for a lot of people who have suffered a lot of hardship. I just wish we had gone public with this whole mess a long time ago because they obviously don't like the way it looks.''

Roofer Rob Atherton said he was paid $15,000 this week but was still owed more than $30,000.

''I just want what they owe me, it's as simple as that,'' he said. ''I'm going to be contacting my solicitor about chasing the rest.''

Mr Tinkler's spokesman said the companies had received ''overwhelming support'' from creditors who were being paid.

http://www.smh.com.au/nsw/tinkler-firms-start-to-pay-debts-20120821-24kqm.html

¡Tinks para siempre!

Jetmaster
22-08-2012, 08:37 AM
Herald have really gone a witch hunt the last few days...doubt there will be much good publicity for HSG entities for a while.

Grimario
22-08-2012, 09:05 AM
Tinkler, ultimate troll.

boz-monaut
22-08-2012, 07:51 PM
has anyone else noticed the wide variety of Tinkler photos that the Newcastle Herald seems to have on file, showing the range or Tinker emotions, and the way they use them according to the headline - if you line them up it's quite funny:

Tinkler pays up
http://static.lifeislocal.com.au/multimedia/images/large/2060199.jpg

Tinkler launches $4bn bid for Whitehaven Coal
http://static.lifeislocal.com.au/multimedia/images/large/1947881.jpg

Mirvac takes Tinkler to court on Steel River deal
http://static.lifeislocal.com.au/multimedia/images/large/1951283.jpg

Tinkler moves to Singapore
http://static.lifeislocal.com.au/multimedia/images/large/1939310.jpg

Tinkler's horse sale bid
http://static.lifeislocal.com.au/multimedia/images/large/2056815.jpg

Court orders Tinkler company to pay up on Steel River land
http://static.lifeislocal.com.au/multimedia/images/large/2042223.jpg

pv4
22-08-2012, 08:37 PM
i like the "tinkler has lost weight, and is in a trim keniggets polo standing next to supercoach benno" one

howardyou
22-08-2012, 09:13 PM
He is asset rich and cash poor. None of his main investments actually make money from a cash flow perspective other than Whitehaven Coal I believe. Not a big issue i wouldn't think. Unless you are a creditor........

He is obviously hoarding his cash and keeping it as long as possible to make money off the interest. Not a great way to make friends and influence people though.

plague
23-08-2012, 09:22 AM
Tinkler pays up
http://static.lifeislocal.com.au/multimedia/images/large/2060199.jpg

Tinkler launches $4bn bid for Whitehaven Coal
http://static.lifeislocal.com.au/multimedia/images/large/1947881.jpg

Mirvac takes Tinkler to court on Steel River deal
http://static.lifeislocal.com.au/multimedia/images/large/1951283.jpg

Tinkler moves to Singapore
http://static.lifeislocal.com.au/multimedia/images/large/1939310.jpg

Tinkler's horse sale bid
http://static.lifeislocal.com.au/multimedia/images/large/2056815.jpg

Court orders Tinkler company to pay up on Steel River land
http://static.lifeislocal.com.au/multimedia/images/large/2042223.jpg

more range than Robert DeNiro.
Is there anything the great man can't do?

sh10
23-08-2012, 11:59 AM
Mirvac takes Tinkler to court on Steel River deal
http://static.lifeislocal.com.au/multimedia/images/large/1951283.jpg

Looks like Chief Harragon ate way too many pies in this one

Pico
07-09-2012, 08:52 PM
Mirvac's bid to seize Tinkler assets
By IAN KIRKWOOD
Sept. 7, 2012, 1:17 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-bzDwk8TrKQYKjEefACKcS8/4e389335-c593-41ae-ab9e-37b8fbaac23d.jpg

PROPERTY company Mirvac has moved ahead with court action to seize $17million in assets from Nathan Tinkler companies over a failed property deal at Steel River.

A spokesman for Mirvac said a subsidiary company, Domaine Steel River Pty Ltd, was seeking NSW Supreme Court orders relating to civil contempt and the sequestration of assets.

As the Newcastle Herald has previously reported, Mirvac took action against two Tinkler entities – Buildev Group Pty Ltd and Ocean Street Holdings Trust – over the failure to complete the purchase of a block of land at Steel River.

Tinkler interests had wanted the land as part of a rail corridor to a coal loader the businessman hoped to build on the nearby former steelworks site.

The government rejected the loader, meaning the Mirvac block, along with others that Tinkler companies were trying to buy, were no longer needed.

The Mirvac spokesman said documents served on Ocean Street and Buildev were returnable to the NSW Supreme Court on Monday morning.

The spokesman said the matter would go before a registrar on Monday but Mirvac would seek to have it referred, hopefully that day, to a duty judge.

The Herald understands Mirvac is taking action under laws that allow it to sequester the property of a person bound by a court judgment, or to have a receiver appointed to ‘‘the income of the property of the person bound by the judgment’’.

Mirvac began its action against the Tinkler companies in June, and the Supreme Court found in Mirvac’s favour in August.

The court gave the Tinkler companies until the start of this month to complete the purchase. When this did not happen, Mirvac took this action, which is due for mention in the court on Monday.
See your ad here

The Mirvac action is designed to either force the Tinkler companies to finish the proposed purchase, or to secure assets as damages to an equivalent value.

Corporate records indicate Mr Tinkler controls almost 50 per cent of Buildev Group. He is understood to have a controlling interest in Ocean Street.

Although the Tinkler camp has rejected suggestions of cash flow problems, the Mirvac case is one of a number of issues confronting the high-profile businessman, who made his fortune exploring and selling the Middlemount coal resource in Queensland.

Mr Tinkler’s spokesman said there was no comment on the Mirvac matter.

www.theherald.com.au/story/309652/mirvacs-bid-to-seize-tinkler-assets/?cs=303


This is going to send the herald into melt down!

parksey
08-09-2012, 12:34 AM
onya tinks

seldom
08-09-2012, 01:29 AM
good luck on the paper trail mirvac

Grunta
09-09-2012, 07:19 AM
So Mirvac are going to seize $17mil of Tink's assets.

Throw half a dozen horses Tink's and see what the hell they do with the. Tink's will most probably save that much not having to look after them.

scozzygt
10-09-2012, 07:19 PM
Fat fuxxin knights FOOTEE.

GazFish35
10-09-2012, 08:17 PM
Huh?

Hamma12
10-09-2012, 08:31 PM
Fat fuxxin knights FOOTEE.



Mad Monday syndrome ?

parksey
10-09-2012, 11:02 PM
run at me

Pico
14-09-2012, 02:37 PM
Business in a new port but sponsorship stays
By DONNA PAGE and NEIL GOFFET
Sept. 13, 2012, 10:41 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-5kfsp4NEeEvSvAN3kC8tUn/29285f68-9a9e-4c8a-94e1-e4261fa7776e.jpg

Newcastle Knights and Jets major sponsor Hunter Ports has shifted its principal place of business from Newcastle to Queensland.

Hunter Ports, the company behind Nathan Tinkler's rejected $2.5 billion fourth coal-loader bid, is on the list of Tinkler Group companies with creditors seeking unpaid funds.

The Sydney Morning Herald revealed this week that mining contractor Sedgman is owed more than $2 million for work it did on the former billionaire's proposed coal terminal on the old BHP Steelworks site at Mayfield.

Sedgman said it had received some payments and had agreed to a timetable for Mr Tinkler to pay back the rest.

"It's a confidential arrangement between the Tinkler Group and ourselves and we are working with them on that," Sedgman's chief financial officer Ian Poole told The Australian Financial Review.

Hunter Ports was set up in 2010 to drive the coal terminal push that was blocked by the state government in January.

Australian Securities and Investments Commission documents show the company moved its main business address this week from Newcastle to the Tinkler Group's headquarters in Brisbane.

It is the latest in a list of Tinkler-aligned companies, including Patinack Farm, Buildev, Bolkm and Ocean Street Holdings, to have creditors seeking money.

Hunter Ports is the naming rights sponsor of both Mr Tinkler's national sporting organisations. The teams are also the major tenants of Hunter Stadium, which has Hunter Ports signage around the ground on game days.

Hunter Ports managing director Steve van Barneveld is based in Brisbane and also works for parent company International Ports & Logistics.

The phone number listed on the company's website is no longer Hunter Ports' and the address given is a post-office box in Wickham.

A media spokeswoman listed on the website said she had not worked for the company since the start of the year.

The latest Hunter Ports' update on the site was posted in January.

Mr Tinkler's Sydney-based PR spokesman said Hunter Ports still employed "up to" 15 people between Newcastle and Brisbane.

The spokesman said sponsorship of Newcastle flagship NRL and A-League teams was "ongoing" and the company was "working on new proposals".

Mr Tinkler, Matthew Keen and Hunter Sports Group chief executive officer Troy Palmer are the directors of Hunter Ports, and Oceltip Ports Investments is the sole shareholder.

Oceltip Ports Investments, whose company address is also now in Queensland, is owned by a Tinkler family member. The directors are Mr Tinkler and Mr Palmer.

www.theherald.com.au/story/334359/business-in-a-new-port-but-sponsorship-stays/?cs=305


love how the herald play up the whole up to 15 people employed, at the same time as the herald is shipping its jobs to New Zealand.

lil_masi
16-10-2012, 12:27 PM
http://www.foxsports.com.au/league/nrl-premiership/newcastle-knights-deny-nathan-tinkler-has-missed-the-due-date-for-player-and-staff-payments/story-fn2mcuj6-1226496809034

Newcastle Knights have released a statement denying a newspaper report that claims players and staff have not been paid their month's salary.

The Daily Telegraph on Tuesday reported that alarm bells were ringing over the future of the Knights under the ownership of embattled mining magnate Nathan Tinkler due to the pay issue.

According to the Telegraph report, the monthly salaries were not deposited into the players’ bank accounts on schedule on Tuesday morning and superannuation payments and office staff salaries have also been delayed in recent months.

But Newcastle CEO Matt Gidley has since refuted the claim, saying it was business as usual at the Knights.

“This is an absolute non issue at the Knights,” Gidley said.

“I have yet to field one phone call or enquiry from an employee or player in regards to this matter.”

Hunter Sports Group spokesman Richard Fisk also denied there was a problem.

"I accept there has been tardiness in the past," Fisk said.

"But all pays for Jets, Knights, HSG employees have been processed and will clear today in the normal course of business."

Fisk also reportedly texted: "Not late. Obviously confusion over weekend. Wages not late processed on 15th and will clear today. We are probably waiting on All Too Hards prize money from the weekend...lol"

The Telegraph report suggested skipper Kurt Gidley and club veteran Danny Buderus were among the players waiting on payment.

The now Singapore based Tinkler was once rated Australia’s richest man under 40 by Business Review Weekly.

He purchased the Newcastle Knights and hired super coach Wayne Bennett on a deal worth more than $1 million-a-season.

Part of the deal negotiated by the club’s former CEO Steve Burraston ensured a $20 million bank guarantee was part of the deal.

Interim CEO Shane Mattiske was recently asked about rumours of the Knights’ financial crisis.

"We have been assured by the Knights that there is no issue," said Mattiske.

"In our monitoring of the club's finances, we've seen no evidence that would suggest we should be concerned. We understand that some of the media reports are clearly going to lead to speculation.

"We continue to monitor the Knights, as we do all clubs. It is important to remember that there are also a number safeguards that were built into the original transfer of the licence to Hunter Sports and these remain in place."


Worrying

MFKS
16-10-2012, 12:32 PM
Am beginning too think Tinks woes and media hammering are a payback for trying to upset the apple cart and the established pecking order with his failed efforts to get a Coal Loader in Newy.

It is almost like he has tried to take money away from others by trying to get in on the action and after being railroaded out of it people are now paying him back to make think twice about stepping into their turf again

Skirt Boy
16-10-2012, 05:34 PM
Am beginning too think Tinks woes and media hammering are a payback for trying to upset the apple cart and the established pecking order with his failed efforts to get a Coal Loader in Newy.

It is almost like he has tried to take money away from others by trying to get in on the action and after being railroaded out of it people are now paying him back to make think twice about stepping into their turf again

Oh for sure. He would have been pissing off many of the "old rich" in town.

But shit. HR ****ing up a pay run is quite common. It's a non news event really.

380
16-10-2012, 05:46 PM
Not being critical but me thinks the man maybe asset rich and cash flow tight at the minute. Not uncommon at all.

GazFish35
16-10-2012, 06:33 PM
Tinks should buy 'the post'

MFKS
25-10-2012, 04:38 PM
NATHAN Tinkler's Hunter Sports Group has paid a tax bill of more than $365,000, averting a potential winding up of the Newcastle Knights Members Club.
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The bill formed the basis of a statutory demand issued on October 5 by the Australian Taxation Office against the Knights members club.

The 21-day deadline for that statutory demand meant the debt had to be paid by tomorrow - or application made through the courts to have it set aside - or the members club could have been deemed insolvent Members club chairman Nick Dan said HSG chief executive Troy Palmer had informed him and deputy chairman Allan McKeown yesterday that the bill had been paid.

Dan, who was elected unopposed at a meeting last Thursday to replace Peter Corcoran as members club chairman, spoke to the Newcastle Herald last night.

"It appears that the bill has been paid, in line with the commitments HSG had given the Knights members club," he said.

HSG would not comment when contacted last night.

HSG had attributed the debt to the former Knights administration.

The debt came to light during an ATO audit of the members club. Both sides agreed HSG would pay it.

Corcoran resigned as the members club chairman at the start of a board meeting last Thursday.

Dan was then elected unanimously as his successor, and McKeown was elected unanimously to replace Dan as deputy chairman.

Since a meeting with Knights advisory board chairman Paul Harragon last Friday, Dan and McKeown have engaged in regular correspondence with Harragon and Palmer over the tax bill, which was due to be paid before tomorrow.

Dan, whose election as members club chairman came exactly one week after HSG asked him to stand down from the Knights advisory board, hoped settling the debt would allow the members club and HSG to establish a more harmonious working relationship.
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"We've got to have a good relationship because we all want the Knights football department to perform well, and I believe it's only with a united front office that that will have a chance of happening properly," Dan said.

Dan said the Knights members club board, comprising himself, McKeown, Corcoran, Trevor Crow, Steve Doran and Leigh Maughan, would meet in the next few weeks to nominate their two appointed representatives to the Knights advisory board.

Crow is already on the advisory board as Newcastle Rugby League chairman and Doran is believed to be ineligible as he was appointed to the members club board by the Newcastle Rugby League, not elected by Knights members.

Notice there will be **** all praise to Tinks for this

northern_swan
25-10-2012, 05:15 PM
Notice there will be **** all praise to Tinks for this

Of course there won't be. Just as there was no praise for Con Constantine before him. It's a poisoned chalice being the white knight in this town, tall poppy syndrome is rife.

Jetmaster
25-10-2012, 09:17 PM
The media as a whole don't understand the machinations of big business - they do think that one company in a portfolio in trouble means the whole deal is going under.

It is possible to file for bankruptcy and still be quite wealthy. Trump and Branson have both done this several times, Robert Kiyosaki (who wrote Rich Dad, Poor Dad) did it two weeks ago and is still a multi millionaire.

It's all about the person in the media.

plague
25-10-2012, 11:16 PM
Pffffffttttt, dont looked stressed to me.

http://images.smh.com.au/2010/04/02/1285587/420-nathan-tinkler-420x0.jpg

Look at how awesome he is.

Go Tinks!!!!

vikingjet
26-10-2012, 10:45 AM
Pffffffttttt, dont looked stressed to me.

http://images.smh.com.au/2010/04/02/1285587/420-nathan-tinkler-420x0.jpg

Look at how awesome he is.

Go Tinks!!!!

That has to be one of the all-time greatest photos. Great post plague

Singo's had one look at the big guy and had trouble holding his shite together; the missus is loving the Singo-Tinks sandwich whilst singing 'I'm in the Money'; and Tinks is releasing some hard-earned gas.

Brilliant!

MFKS
26-10-2012, 12:03 PM
Anyways his hoping his horse All Too Hard gets up in this weeks Cox Plate. Being a little bro of Black Caviar saluting in the best race field in the country to confirm status as best horse in the country will see this little ponies stocks as a stallion go through the roof. Tinks could do with the propping up of his empire and we can do with Joel Griffiths. All to Hard wins and Tinks makes money. Tinks makes money then we get it. It's all a circle and you know who I am barracking for.

THe first clown that tries telling me the WS Cox Plate isn't the best race in Australia and starts up with Melburn Cup is a Gypo

vikingjet
29-10-2012, 12:39 PM
THe first clown that tries telling me the WS Cox Plate isn't the best race in Australia and starts up with Melburn Cup is a Gypo

Since coming to this country some 20 years ago, I've always loved the Group 2 Theo Marks Stakes.

MFKS
29-10-2012, 12:41 PM
Poor bugger got run down in the last 50 yards and came 2nd!!! 150 yards out he had it in the bag but the winner proved too strong. Ohh well Tinks will just have to find another avenue to prop up his teetering empire and we will plug along Griffoless as per usual

Pico
01-11-2012, 08:21 AM
Nathan Tinkler prepared to quit racing, will stick by Newcastle Knights and Jets

Ray Thomas
The Daily Telegraph
November 01, 2012 12:00AM

http://resources2.news.com.au/images/2012/10/31/1226507/867898-nathan-tinkler.jpg

Nathan Tinkler says his racing interests aren't as enjoyable as they used to be. Source: The Daily Telegraph

MULTI-millionaire owner Nathan Tinkler remains committed to the Newcastle Knights and Jets football clubs - but he is prepared to walk away from his thoroughbred racing and breeding empire for the right price.

The former electrician turned mining magnate, businessman and thoroughbred owner-breeder contacted The Daily Telegraph yesterday to set the record straight on a number of issues, both on and off the racetrack.

In an open and frank interview, Tinkler confirmed he will continue to provide financial support to both Newcastle footy clubs, will further rationalise his racing interests, and took a swipe at the media.

In a surprising admission, Tinkler said his Patinack Farm racing and breeding operation is "not as enjoyable as it once was".

"I love my racing but I'm living overseas now and I'm not as hands-on as I'd like to be," Tinkler said.

"There is no one in the horse industry that wants to speak positive about anyone.

"The racing industry is a self-promoter's dream and I am not a self-promoter.

"If there was one thing that I could change about myself, that would be to like reading about myself and seeing myself in the papers but I just don't."

http://resources2.news.com.au/images/2012/10/31/1226507/840326-aku-uate.jpg
Aku Uate in action for the Newcastle Knights. Picture: Gregg Porteous Source: The Daily Telegraph

Tinkler confirmed plans to further close down his Hawkesbury training base, reduce his Melbourne stable capacity from 50 horse to 25, and concentrate his racing interests with stables at Randwick in Sydney and Canungra, near Brisbane.

"In Melbourne, the focus will be on two- and three-year-olds."

Tinkler then admitted that if someone offered him the right price for his thoroughbred empire, he would consider selling it all - just like Bob Ingham did in 2008 when Darley paid a reported $700 million to buy his entire racing and breeding operation.

"I'd consider selling, and I'd also very much consider a partner," he explained. "In particular, a Chinese partner because the racing industry worldwide needs China to embrace the racing industry.

"If it does, then racing would become part of the world's biggest economy and that would be good for the sport globally."

There were reports Tinkler was trying to off-load his racing and breeding interests to an oil-rich Arab sheik earlier this year. Tinkler was reluctant to talk about the details but had a slightly different take on the issue yesterday.

"I wouldn't sell it to him," he said. "I don't think Australian racing needs more sheiks. Australian racing needs characters and people they can relate to, not more faceless foreign owners."

When I asked him about his football interests and whether he wanted to sell his stake in NRL's Newcastle Knights and the A-League's Newcastle Jets, Tinkler said he was in both clubs for the long haul.

"That is a completely different thing," he said.

"Both clubs are very close to my heart, they are community-based, and I don't need to have a lot to do with the clubs. There are no financial issues with either club, they are safe and secure, they are all fine.

"Racehorses take management, man-hours, lots of people, all those sort of things.

"Fortunately, there is no manes on most of those footy players so they can think and speak for themselves.

"The footy clubs are a much easier business to manage - horses is just massive, the money is massive, everything is just too hard."

http://resources3.news.com.au/images/2012/10/31/1226507/840327-emile-heskey.jpg
Newcastle Jets marquee man Emile Heskey nets another goal. Source: Getty Images

Tinkler's financial woes seem to make the business pages almost on a daily basis but the man himself once again has a different take on the issue - and had the media in his cross-hairs.

"There has definitely, absolutely, been a spirited media campaign to get me," Tinkler said. "It does piss me off but I just brush it way, I've got broad shoulders.

"But some sections of the media treat me like I was Christopher Skase, breathing through a mask, sitting in a wheelchair in Majorca.

"I never run from anybody, everyone always gets paid.

"I would say the noisy few have made a lot of people nervous and there is no need to be."

Tinkler sent more than 200 broodmares through a Gold Coast sale ring this week as he went about rationalising his thoroughbred business.

He denied the sell-off was because his thoroughbred racing and breeding empire was bleeding financially.

"Earlier this year, one of my staff told me that I was going to have 1800 horses shortly," Tinkler said.

"I just said: 'Mate, what?'

So, this sale was designed to get the numbers back to 1500 horses.

"I believe a more sustainable level is about 800 to 900 horses. "This is a bad time to be selling but we have so many foals hitting the ground we had to do something.

"We will have a lot of yearlings to sell next year and we will be selling at the tried horse sales, too.

Tinkler pointed out every large racing and breeding operation needed to cull some of their stock each year.

"Darley disposes of horses constantly but we tend to evaluate our business every nine months or so," he said.

"I was happy with the results of the sale and thank the buyers who came."

John Thompson trains exclusively for Tinkler - with the obvious exception of super colt All Too Hard, who is prepared by John Hawkes and his sons, Wayne and Michael,

"I've got to say 'Thommo' is going terrific," Tinkler said. "What can you say about a guy who has delivered me a couple of hundred winners for the last couple of years.

"He puts up with all this 'shit' in the media but he gets on with it, does his job. He's not just a great trainer, he's a great person and I love him like a brother.

"As for 'Hawkesy', there is two blokes with a short fuse so if it wasn't going to work, it wasn't going to work early.

"But he knows his stuff, he's a great guy and I have no problem with him."



Wish I was as confident for the jets, at least the knights potentially have that bank guarantee, should the worst happen.

furns
01-11-2012, 09:57 AM
In one fell swoop, he shoots down 95% of the media beatup against him.

Onya Tinks.

Disinterested Bystander
01-11-2012, 03:56 PM
In one fell swoop, he shoots down 95% of the media beatup against him.

Onya Tinks.

:grin: yeah Dorothy Dixer type questioning/soft interviews tend to make you appear like a winner.

plague
01-11-2012, 09:39 PM
THe first clown that tries telling me the WS Cox Plate isn't the best race in Australia and starts up with Melburn Cup is a Gypo

Was there.
Best day at races ever.
Did well on the punt.
Missed omen bet on Murinho paying about $9. Oh well.
No complaints though.


In other news thank you G.Boss.

Disinterested Bystander
20-11-2012, 10:46 AM
http://www.smh.com.au/business/tinklers-mulsanne-in-liquidation-over-debt-case-20121120-29n14.html

The first card in Tink's mansion of cards looks like it could be starting to tumble. Good thing he fled to Singapore, don't think you can be extradited to Australia for a civil offence such as insolvent trading.

belchardo
20-11-2012, 10:52 AM
hoping he's got all his companies appropriately firewalled from each other.

Disinterested Bystander
21-11-2012, 01:38 PM
http://www.smh.com.au/business/another-tinkler-firm-bites-the-dust-20121121-29pax.html

Next one to go. Hope the Jerks can put in a good season to finish off on - I reckon we'd be short odds to not be around next season! Pity they don't have a $20 million bank guarantee like the Knights

Pico
21-11-2012, 01:44 PM
Tinkler's Mulsanne Resources in hands of liquidators
By PADDY MANNING
Nov. 21, 2012, 4:10 a.m.

ON paper, Nathan Tinkler is worth more than half a billion dollars. But one of his private companies, Mulsanne Resources, is now in the hands of liquidators after he failed to come up with $28.4 million.

Mulsanne, named after a Bentley car model, owed the money to a coal exploration company, the Blackwood Corporation.

But although hearings in the NSW Supreme Court were twice adjourned so a settlement could be negotiated, Mr Tinkler’s lawyers failed to appear before registrar Nicholas Flaskas yesterday.

A Tinkler Group spokesman said the Mulsanne liquidation would not affect its other companies, including the Hunter Sports Group, the Newcastle Knights and Newcastle Jets.

Ferrier Hodgson were appointed liquidators of Mulsanne – a shelf company without assets, apparently established solely to invest in Blackwood – and will start an investigation likely to take until February.

If the liquidators find evidence of insolvent trading, the three directors of Mulsanne, including Mr Tinkler, could be held personally liable for its debts, and be banned as company directors.

For once, Mr Tinkler did not come up with the cash.

Over the past two months, business journalists have been trundling in and out of courtrooms before Mr Tinkler’s lawyers have settled with litigants at the last moment.

Each time Mr Tinkler has settled, the question remained: where has the money come from?

Mr Tinkler has faced intensifying speculation about his financial position as the value of his main asset, 19.4 per cent of listed Whitehaven Coal, has halved since April. Then worth $1.1 billion, his stake was worth $*** million yesterday.

But Mr Tinkler, who has moved to Singapore, also has significant debts, consolidated with hedge fund Farallon and estimated by Fairfax Media to be up to $638 million. However his spokesman has consistently indicated the true figure was ‘‘a mere fraction’’ of that.

As his paper wealth has fallen, Mr Tinkler has fended off a series of legal actions against a number of his companies, managing to settle at the last minute.

It is not clear where the funds have come from, but last month his aligned Buildev Group sold a development site in North Richmond for about $15 million.

Mr Tinkler’s cashflow problems were such at one point that, according to his racehorse trainer, John Thompson, the Patinack Farm stable was at times unable to cover horse feed and other costs.

But another spokesman for Patinack later said that that was not the case. Hunter Sports Group has reportedly been behind on staff payments and Mr Tinkler’s private jet is reportedly under a repossession order, although a representative of the mining magnate says he was unaware of this.

www.theherald.com.au/story/1135049/tinklers-mulsanne-resources-in-hands-of-liquidators/?cs=305


So by this HSG is still safe....

Pico
21-11-2012, 01:48 PM
Tinkler's Patinack Farm placed in liquidation
By DONNA PAGE
Nov. 21, 2012, 1:22 p.m.

NATHAN Tinkler’s Patinack Farm Administration has been placed in liquidation over a $17,000 debt owed to WorkCover South Australia.

The Federal Court, sitting in Adelaide, ordered the company be wound up and its assets liquidated this morning.

The company, which lists Mr Tinkler and Hunter Sports Group chief executive Troy Palmer as directors, owed $16,977.56 in unpaid levies

Yesterday the NSW Supreme Court ordered’s Mr Tinkler’s Mulsanne Resources be placed in liquidation after it failed to settle a $28.4 million debt with Queensland coal explorer Blackwood Corporation.

It is understood Mr Tinkler’s racing empire Patinack Farm employs more than 70 people in the Hunter Valley.



Then this happens, not looking good at the moment for Tinks, What's cons finances like these days

Disinterested Bystander
21-11-2012, 01:50 PM
So by this HSG is still safe....

:grin::grin: Not sure I'd be trusting too much a Tinkler spokesman says, weren't all the stories of unpaid tradies and employees, outstanding super and cash flow issues throughout the empire just a beatup by the Herald and everything was rosy in Tinkletown?

boz-monaut
21-11-2012, 01:52 PM
What's cons finances like these daysjust quietly

much, much worse

Bon
21-11-2012, 01:54 PM
just quietly

much, much worse

Yeah, Con is selling his penthouse apartment in our building.. Was thinking of making the move from level 6 up to 12.. Not sure I'll be able to afford it though.. hahaha
http://walkom.com.au/buying/search/detail.aspx?id=WLS72501386&wlid=cece06a7-8b75-4050-b0ff-143186caa480

boz-monaut
21-11-2012, 02:07 PM
I know where you live now

and I don't think it was his choice to sell

Bon
21-11-2012, 02:14 PM
I know where you live now

and I don't think it was his choice to sell

You are right, I would assume it isn't his choice.. I'm pretty sure his daughter lives(d) there, occasionally mail addressed to her is left around in the foyer..

(Don't pretend you hadn't already used all of your mod powers to stalk me down, Boz.. :tongue: )

Skirt Boy
21-11-2012, 07:30 PM
Yeah, Con is selling his penthouse apartment in our building.. Was thinking of making the move from level 6 up to 12.. Not sure I'll be able to afford it though.. hahaha
http://walkom.com.au/buying/search/detail.aspx?id=WLS72501386&wlid=cece06a7-8b75-4050-b0ff-143186caa480

It's a good thing this Windalian is now living in Germany. :P

MFKS
21-11-2012, 07:47 PM
NATHAN Tinkler’s Patinack Farm Administration has been placed in liquidation over a $17,000 debt owed to WorkCover South Australia.

The Federal Court, sitting in Adelaide, ordered the company be wound up and its assets liquidated this morning.

A spokesman for Mr Tinkler said accountants within the group failed to clear the debt to South Australia WorkCover by mistake and the money was paid this afternoon.

Another debt to Queensland WorkCover of $163,000 was also paid this afternoon, he said.

Mr Tinkler and his right-hand man Hunter Sports Group chief executive, Troy Palmer, are directors of the company that owed $16,977.56 in unpaid levies.

Yesterday the NSW Supreme Court ordered another of Mr Tinkler’s companies, Mulsanne Resources, be placed in liquidation after it failed to settle a $28.4 million debt with Queensland coal explorer Blackwood Corporation.

It is understood Mr Tinkler’s troubled racing empire Patinack Farm employs more than 70 people in the Hunter Valley.

In the Federal Court in Adelaide this morning insolvency practitioners Anthony Matthews & Associates were appointed to wind up Patinack Farm Administration, one of a dozen entities forming part of the troubled Patinack thoroughbred stud.
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The wind-up proceedings were initiated by creditor Workcover Corporation of South Australia, and were supported by Queensland’s Workcover Corporation.

The directors of a company found to have engaged in insolvent trading can become personally liable for the company’s debts - potentially resulting in a ban from acting as a company director - and can face criminal charges and jail if they are found to have acted dishonestly.

Last week Patinack Farm avoided liquidation, settling a $259,866 claim brought by the NSW Office of State Revenue.

It also settled a claim said to be worth “millions” by the tax office.

All good now it seems. Notice how the Herald hides the good part in the article instead of putting up a new article to say Tinks has settled a debt.

**** The NEWY HERALD

MFKS
29-11-2012, 12:18 PM
Tinkler on notice as Patinack Farm payday arrives


NATHAN TINKLER has been given until Thursday to stump up $240,000 to cover wages for staff of his Patinack Farm thoroughbred stud, if he wants a chance of pulling the operation back out of liquidation.

The Adelaide-based Anthony Matthews, appointed last week as liquidator of Patinack Farm Administration after an administrative error resulted in it failing to pay a $17,000 debt to WorkCover SA, is expected to give an update on Thursday and write to all employees asking for evidence of any further debts.

It is understood the full amount owed to creditors by Patinack Farm Administration, which was the main employment arm of the operation, could be between $5 million and $6 million.

That amount is owed in unpaid wages and superannuation, taxes and workers' compensation premiums. It is understood Mr Tinkler's lawyers have provided assurances that all creditors of the company will be fully repaid in three to four weeks.
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Mr Tinkler's personal financial situation is the subject of intense speculation, and his own debts - concentrated with Singapore hedge fund Farallon - are reported to now amount to about $700 million.

Citing unidentified sources, Bloomberg reported on Wednesday that Mr Tinkler had been given until the end of the month to repay $200 million or Farallon would take control of his main asset, a 19.4 per cent stake in listed Whitehaven Coal.

Fairfax Media understands neither the $200 million repayment amount, nor the Friday deadline, are correct but a spokesman for Mr Tinkler would not comment and Farallon did not respond.

One analyst speaking off the record said deadlines from Farallon to Mr Tinkler had been ''missed all year'' but ''the path of least resistance is holding on and waiting''. Another source said many investment banks had put proposals to Mr Tinkler to resolve the stand-off over his Whitehaven stake, and identified RBS and Macquarie.

Whitehaven shares closed down 5¢ at $2.81, valuing Mr Tinkler's stake at $553 million - roughly half the $1.1 billion it was worth in April, after a three-way merger with the listed Aston Resources and the private Tinkler Group entity Boardwalk Resources.

Patinack Farm Administration, one of at least a dozen companies involved in the stud, is one of two Tinkler Group entities in liquidation. The other is Mulsanne Resources, which Ferrier Hodgson is winding up after it failed to make a $28.4 million payment to the listed coal explorer Blackwood Corporation, for a share placement.

A third company, Tinkler Group Holdings Administration, is also facing a wind-up after the Deputy Commissioner of Taxation appeared in the NSW Supreme Court last Friday and was given until December 10 to replace the NSW Chief Commissioner of State Revenue as petitioning creditor. The company also owes an unspecified amount of money to another creditor, the law firm Sparke Helmore.

Patinack Farm Administration has been asked for copies of its MYOB accounting file, and a ghost image of its computer hard drive, to provide evidence it can pay the workers in full. It has also been asked to provide a full written explanation of how the liquidation appointment might be reversed - a decision that will ultimately rest with the Federal Court.

Anthony Matthews had been expected to make a statement over the past two days but is yet to receive documentation from Patinack.

More of the same

Disinterested Bystander
29-11-2012, 04:51 PM
More of the same

More of the same pea and thimble tricks by Tinkler as he shuffles his rapidly diminishing cash reserves around his entities to try and stave off yet another liquidation, or more of the same beatups as the media incessantly hounds the working man's hero? :blink:

Grimario
04-12-2012, 05:43 PM
http://www.theaustralian.com.au/news/nation/grounded-coal-baron-nathan-tinkler-loses-his-luxury-private-jet/story-e6frg6nf-12265299***65

Grounded: coal baron Nathan Tinkler loses his luxury private jet


NATHAN Tinkler's $15 million private jet - and a corporate helicopter - have been seized by receivers after another of the coal baron's companies collapsed over unpaid debts.

GE Commercial Australia have appointed receivers Taylor Woodings to the mining entrepreneur's THGA Aviation after it failed to meet a string of unpaid debts in recent months.

Mr Tinkler's French-made Dassault Falcon 900C jet and his Agusta A109S corporate helicopter are now in the hands of receivers.

“We have secured the assets,” receiver Nathan Landrey told The Australian.

“The jet is in Singapore and the helicopter is in Brisbane, they are under our control.”

THGA Aviation is the third company associated with Mr Tinkler to have collapsed in recent weeks.

Last month Mr Tinkler's Mulsanne Resources was wound up after it failed to make a $28.4 million payment to coal junior Blackwood for a one-third stake in the company.

Last week Mr Tinkler's Patinack Farm Administration - a key arm of the entrepreneur's $200m-plus horse racing empire - was also placed in liquidation over millions of dollars in unpaid taxes, wages and employee entitlements.

Mr Tinkler's debts over his 19.4 per cent stake in listed coal group Whitehaven are understood to be bigger than the value of that holding, which is by far his biggest asset.

q-money
05-12-2012, 09:30 AM
conspiracy imo

plague
05-12-2012, 01:23 PM
Nothing at all to worry about.
I heard he hated it anyway, shit mileage.
Have heard he's upgrading to a blimp so he can sneak the **** up on people before goin the hostile takeover.

Tinks, always thinking.

demon
10-12-2012, 09:21 AM
All good now it seems. Notice how the Herald hides the good part in the article instead of putting up a new article to say Tinks has settled a debt.

**** The NEWY HERALD


Why is there an assumption The Herald should act as PR for anyone including Tinkler????? They are their to provide news not give someones image a shine?


The real issue that created the comparitively poor relationship between the two is neither Tinkler nor the Herald Editors but Palmer and to a lesser extent Bennett.

Bennett did not understand the importance of the relationship and need for local media to have access and be able to have stories about the Knights to maintain the 'local' aura the Knights have built and relied on so heavily. As a community club the need for their supporters to feel they know the club and players is very important. The typical photo and article showing a new players at a local beach with wife/gf/kids and a story about their past and future hopes here took those players from outsider to accepted part of the town.

Bennett changed that and it flowed onto the Jets. A set roster prepared weeks in advance and players banned from speaking outside that roster meant all news staff were not able to talk to players they wished, a classic example was in the weeks Gidley was ruled out for the season the "schedule" had two reserve graders at the press conference????? No offence to them but why would the press want them not Gidley at that point in time???

After some Tinkler business related stories Palmer decided that sport or business were one in the same and began to restrict even further Herald access to players. And I have seen first hand the extent that was policed..... to have a CEO at a training session walking players past media who went to ask a question??? God I'd love that hourly rate for such a basic job!

Troy Palmer has been the catalst for I would think a majority of the 'bad blood' that was created, asking the Chief Editor to have staff removed is not the way to to expect those same people to write happy stories and ignore any negative, and this is the crux of the matter. Troy Palmer took offence that the Herald was an entire newspaper and njot just a sports section, he wanted Tinkler to continue to be seen as the white knight and any business issues to be left aside.

In many ways Tinklers name has been damaged locally, but Palmer has been by far less than an ideal choice and has hastened that downfall by his own ego and actions.

coastiehater
11-12-2012, 01:24 PM
It's hard enough losing your private jet and helicopter on the eve of Christmas.

Now struggling mining magnate Nathan Tinkler is giving up arguably the best piece of real estate in Australian sport.

His $165,000-a-year private suite at ANZ Stadium is up for grabs.


In further evidence that sports tragic Tinkler's luck may be running against him, no sooner did he put his suite
up for sale than Sydney secured the rights to two State of Origin games and a blockbuster featuring Manchester United.

The premium corporate box seats 20 guests and is close to the coveted halfway line at the Olympic venue.

Nearby neighbours include Russell Crowe, ANZ Bank CEO Michael Smith, Telstra boss David Thodey and the heavy-hitting clients they entertain.

Start of sidebar. Skip to end of sidebar.
Related ContentDebt: Tinkler's Knights reign threatened + 37 Soc AL Tinkler: Tinkler cash worries not concerning FFA Blow: Tinkler stable in liquidation End of sidebar. Return to start of sidebar.
It's a long way from this writer's $1000 family seats at the top deck of the Ettingshausen stand at Shark Park, where we get by on pies, hot dogs and our beer in plastic cups.

The $165,000 for Tinkler's old suite is for the enclosed entertaining area and outdoor seats only. There are additional catering costs for such temptations as Coffin Bay oysters with a lime splash and salmon roe, beef crostini with capers and celeriac remoulade, spatchcock with crisp pear and green peppercorn dressing, a rack of lamb with honey and balsamic glaze and/or swordfish with Iranian figs and green olives. You wash it down with Becks and Heineken beers and the finest wines.

Of more appeal is the standard of local and international sport at ANZ next year. Tinkler will miss seeing arguably the biggest sporting year at the stadium since the 2000 Olympics



Read more: http://www.foxsports.com.au/league/nathan-tinklers-private-suite-at-anz-stadium-up-for-grabs/story-e6frf3ou-1226534334006#ixzz2EhqT27z5

coastiehater
11-12-2012, 01:27 PM
"just too busy" my ass. what a croc of shit. the more i read the more it looks like stinkler will f*ck us over sooner rather than later. hopefully the fat bastard atleast lets us finish the season.

hauss
11-12-2012, 02:47 PM
Hopefully we can make it to the end of the season when the new tv deal kicks in and the A-League clubs are a viable prospect. A club with 11,000 members would look enticing to a new owner in such circumstances.

Funny to see the Knights fans licking their lips at the thought of shafting Tinkler for the $20m bank guarantee because they will miss the date the audit report was due. That's one expensive audit report.

Thomas477
11-12-2012, 04:11 PM
Hopefully we can make it to the end of the season when the new tv deal kicks in and the A-League clubs are a viable prospect. A club with 11,000 members would look enticing to a new owner in such circumstances.

Funny to see the Knights fans licking their lips at the thought of shafting Tinkler for the $20m bank guarantee because they will miss the date the audit report was due. That's one expensive audit report.

Agree with your first point, as long as we see the season out, I am confident that the club will survive. With the cap covered by TV alone, throw in sponsorship money and that should cover Stadium, flights and staff costs. May mean Heskey doesn't stay around though.

LINGERA
11-12-2012, 04:36 PM
he gets happier and fatter in chronological order

MFKS
12-12-2012, 11:30 AM
Hopefully we can make it to the end of the season when the new tv deal kicks in and the A-League clubs are a viable prospect. A club with 11,000 members would look enticing to a new owner in such circumstances.

Funny to see the Knights fans licking their lips at the thought of shafting Tinkler for the $20m bank guarantee because they will miss the date the audit report was due. That's one expensive audit report.

Interesting that $20 Million Bank Guarantee. In light of all Tinks Debts that he seems to have and his seemingly impending financial implosion would the Knoughts be any guarantee of ever seeing this $20million?? With the NRL's new Tv deal I would suggest the Knoughts will be fine with or with out Tinks.

Our future is a little more clouded though. You are right about the 11k members and the new TV deal making it look more appealing to owners but lets remember when Tinks threw the rattle from pram in April there wasn't a queue lining up to snaffle the Jets Licence.

Don't also forget the FFA have burnt many parties in recent years with the dream of owning a HAL side. Most of these folk have turned up with the best intention and found themselves pissing money down holes due to the FFA and the way the League was being run. Can't see many of these people wishing to make a return.

Hopefully we get what we should be getting a diversified "GROUP" of owners.

10% owned by the fans
10% owned by the NNSW Fed
80% owned by at least 4 wealthy ****ers with 15 - 25% shares max.


This way when we have a Con/ Clive Palmer moment we can plug on. Also feel that we would benefit massively as the "Wealthy" owners wouldn't be asked to contribute so much to cover debts. This could actually see the wealthy owners actually make a contribution to the club that could be seen as a luxury gift ie buy a training ground, Sign us a Marquee etc

BodyNovo
12-12-2012, 11:39 AM
i think the way phoenix run it at the moment is a good way to go should tinks fall over.

this is all info from my trip to phoenix and a couple of the yellow fever boys telling me how it goes since tony fernandes left the club.

they have i think 4-5 owners who all have a shared percentage in the club & like mfks said they all have the opportunity to make a valid contribution. I know there membership numbers are no where near as strong as ours but apprently the pricing of them is very competitive compared to our cheap cheap ones. They have an academy set up. Also the owners can be seen on matchday drinking in the pub with the fans. met 2 of the owners from my trip in january and they were "pissed as bro", real nice blokes, etc. not as good as tony sage welcoming us into the the members bar last year but still good form nonetheless.

380
12-12-2012, 12:05 PM
Perhaps big Clive has a better working relationship with Gallop and feels inclined to own a team in Newcastle. With all there young players we got , would be like ol times for him.

plague
12-12-2012, 01:18 PM
I like the Clive idea. I miss the big man. Get him to build his new Titanic 2 at Newy, put a motorized Dinosaur on the family hill for the kids etc.
Clives a visionary, he needs to be part of this new regime.

Pico
12-12-2012, 02:05 PM
THE Hunter Sports Group’s ‘‘long outstanding debts’’ of nearly $1.3million for the Newcastle Knights’ use of Hunter Stadium contributed to cash flow problems and a $1.6million deficit for the venue, the NSW Auditor-General has found.

But the Nathan Tinkler-owned group behind the Knights and the Jets is still disputing the total amount.

A HSG spokesman confirmed yesterday $400,000 in contention related to a bill from the state government for re-turfing the stadium.

It dated back to November 2010 ‘‘in a deal with the previous management of the Knights’’, he said. ‘‘It has nothing to do with HSG and therefore should not be included in the figures.’’

The stadium’s deficit for the 2011-12 financial year accounted for most of the overall $2.4million deficit of Venues NSW, the body that manages the stadium, entertainment areas and other venues in western Sydney and the Illawarra regions on behalf of the state government.

As of September, HSG’s debts totalled about $1.3million, according to the report from the state’s independent auditor, Peter Achterstraat, which was released yesterday.

About $300,000 of that amount has since been paid.

The government has launched legal action to recover more than $500,000 HSG has also agreed to pay.

Mr Achterstraat said Venues NSW had to transfer ‘‘funds between business units’’ to help Hunter Stadium with its cash-flow problems during 2011-12, which were due to its operations and outstanding debts.

‘‘The Hunter Sports Group has long outstanding debts relating to the Knights’ use of the stadium and catering services,’’ Mr Achterstraat said.

The report’s figures support those Sports Minister Graham Annesley put to a budget estimates hearing in October.

But HSG again linked the payment of more of the debt to completion of a long-term access agreement for the stadium between it and Venues NSW, despite the body’s insistence the two issues were unrelated.

‘‘Hunter Venues [sic] and HSG agree [the] figure we owe is $586,000, to be paid once the new 10-year Hirer’s Agreement is concluded,’’ the HSG spokesman said.

Total attendance for rugby league at the stadium in the year ended June 30 was 308,000, the report also said.

Soccer recorded an attendance of 157,500 and rugby union 20,000. Eight thousand people attended netball and 461,500 went to concerts and functions at the other Hunter venues.

www.theherald.com.au/story/1180014/13m-debt-besets-hsg/?cs=305


Can't believe that HSG is being charged for the "re-turfing" of the pitch, last time I checked that piece of shit field looked more like a war zone then a re-turfed pitch. How about Newcastle starts getting the same treatment as Sydney with their near yearly re-turfing and solid pitches year round instead of the at best cow paddocks we get now.

namwob99
12-12-2012, 05:13 PM
Beer price to go up again?

belchardo
13-12-2012, 04:20 AM
Can't believe that HSG is being charged for the "re-turfing" of the pitch, last time I checked that piece of shit field looked more like a war zone then a re-turfed pitch. How about Newcastle starts getting the same treatment as Sydney with their near yearly re-turfing and solid pitches year round instead of the at best cow paddocks we get now.

wasn't that a result of the moto-cross event they held on the field?

Pico
13-12-2012, 07:13 AM
wasn't that a result of the moto-cross event they held on the field?

Not HSG, was the old Knights Admin when they had stadium Management rights.

Should be pointed out that HSG agreed to wipe the Knights debts, so this I would assume should be included as part of that deal but the knights still had to get Hunter Venues, the regional venue authority at the time before NSW venues was created, to sign off on any extra events when the knights had management rights, which means the states acting authority agreed to having a shit load of dirt dumped on a grass pitch for days, I would think that the liability should be shared between the two groups.

I also find it funny that the hunter venues board was wiped and their power taken from them on the basis that they went over budget by $3m for the stadium redevelopment yet this new super Sydney controlled NSW venues can go around losing $2.4m a year whilst providing that shitfest that is a pitch and its all ok, nothing to see here.

Disinterested Bystander
13-12-2012, 11:20 AM
More admin oversights from Tinkle I wonder?

http://www.smh.com.au/business/tax-office-to-wind-up-tinklers-teams-20121213-2bb7w.html

Jeterpool
13-12-2012, 11:24 AM
From the Herald too

http://www.theherald.com.au/story/1183883/moves-to-wind-up-knights-jets/?cs=303

380
13-12-2012, 11:25 AM
Another day another cluster f%^k of stories re Tinks finances, all starting to wear a bit thin.

hauss
13-12-2012, 11:32 AM
More admin oversights from Tinkle I wonder?

http://www.smh.com.au/business/tax-office-to-wind-up-tinklers-teams-20121213-2bb7w.html


The applications have been set down for hearing on February 20.

That should get us through most of the season.

I wonder how the ATO would go about selling club assets as it is not your typical business.

Jeterpool
13-12-2012, 11:55 AM
That should get us through most of the season.

I wonder how the ATO would go about selling club assets as it is not your typical business.

I'll buy Birraz, BK or Duncan off them - we need a new goalie for our team

Pico
13-12-2012, 03:17 PM
That should get us through most of the season.

I wonder how the ATO would go about selling club assets as it is not your typical business.

What assets would they even have, a few kit bags and some signage.

q-money
13-12-2012, 03:18 PM
who opens the mail down at tinkler towers ffs?

i reckon it must be craig deans

belchardo
13-12-2012, 03:27 PM
What assets would they even have, a few kit bags and some signage.

they've got a few trademarks registered.

"good engines"
"it wasn't my fault because..."
"high-tempo pressing game"
the crazy chicken dance

they must be worth billions.

hauss
13-12-2012, 03:29 PM
who opens the mail down at tinkler towers ffs?

i reckon it must be craig deans

haha. normal service resumes and the good times return to the foz.

I really think we are meant to have a club with never ending off field drama and incompetence.

belchardo
13-12-2012, 03:36 PM
"Football Federation Australia (FFA) has received advice from the Newcastle Jets in relation to the documents filed in the Federal Court in Sydney today by the Deputy Commmissioner of Taxation.

FFA has been given assurances by Hunter Sports Group, owner and operator of Newcastle Jets, that the club’s operations will not be affected.

Newcastle Jets are currently in Perth preparing for their Round 11 Hyundai A-League match against Perth Glory at nib Stadium tomorrow night."

Read more: http://www.smh.com.au/sport/sportsday-live-thursday-december-13-2012-20121213-2bav9.html#ixzz2Eu4nXxH9

sorry boys, looks like we'll be ok*

*assuming GVE and Deans are shown the door shortly

q-money
13-12-2012, 03:37 PM
i kind of hope it does come crashing down again for the final ultimate blood-letting

the stories that will be told

wehrman did 9/11 etc

nevar 4get

hauss
13-12-2012, 03:39 PM
...picturing craig deans opening the mail at Tinkler Towers to the tune of yakety sax, just chucking the ATO one's straight in the bin.

plague
13-12-2012, 03:42 PM
I bags buying Deans off the liquidators.

Oh, and who has copyright on the lulzturtle? That ain't getting repo'd is it?

hauss
13-12-2012, 04:16 PM
Jetman suit would be good for fancy dress parties.

Skirt Boy
14-12-2012, 08:39 AM
What the **** is going on?

I leave the country for a few months and everything has gone pear shaped.

Thomas477
14-12-2012, 09:01 AM
I leave the country for a few months and everything has gone pear shaped.

Just service as normal really. It would be a Jets season if there wasn't a story about us going under.

:blush: Newy

BodyNovo
14-12-2012, 09:02 AM
just fold the club tbh.

hawk
14-12-2012, 09:23 AM
just fold the club tbh.

you'd be crying on ya fairy bread

MFKS
15-12-2012, 12:37 AM
NATHAN Tinkler is understood to have sold Caulfield Guineas winner All Too Hard and the foundation stone of his foray into horseracing, Patinack Farm Aberdeen, as part of a deal worth $30 million yesterday.

Fairfax Media has learned Vinery Stud, which is part-owned by Gerry Harvey and Black Caviar's owner Neil Werrett, will be the new owner of All Too Hard and Onemorenomore, which stands at Hunter Valley stud, and the Aberdeen property. Vinery Stud general manager Peter Orton would only confirm the stud was in discussions about buying All Too Hard, which is a half-brother to the unbeaten Black Caviar, last night.

"I think any stud would like to have a stallion prospect like him, and there are at least two other studs in the market," Orton said.

Insiders in the Tinkler group were saying privately yesterday that a lot of problems had been solved by the sale of All Too Hard.

However it is not clear how much cash, if any, Tinkler will pocket from the deal.

The former billionaire was extended a loan recently by Harvey, reported to be $20 million, as his financial woes deepened.

An announcement about the deal will be made before Christmas as Tinkler's spectacular fall from Australia's youngest billionaire gathers momentum.

Werrett was the underbidder on All Too Hard, which is by Patinack stallion Casino Prince, as a yearling when Tinkler paid a sale-topping $1.025 million at the Inglis Easter Sale.

All Too Hard made an immediate impact on the racetrack winning his first three starts under the guidance of training partnership John, Michael and Wayne Hawkes.
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He was favourite for the world's richest two-year-old race, the Golden Slipper, before a decision was taken not to start.

All Too Hard was runner-up to Pierro in the Sires Produce Stakes at his final start as a two-year-old and turned the tables on his conqueror in the group 1 Caulfield Guineas at fourth run as a three-year-old. He backed up a week later and ran second to Ocean Park in the Cox Plate.

All Too Hard will campaign in the autumn and is likely to go to Royal Ascot in June.

ATO to get paid if this is so??

Pico
16-12-2012, 10:51 AM
Newcastle Knights Members Club board to ask Nathan Tinkler to walk away

James Hooper
The Sunday Telegraph
December 16, 2012 12:00AM

NATHAN Tinkler will tomorrow be asked to hand over control of the Newcastle Knights by giving the club's NRL licence back to the Members Club board.

With his billion-dollar asset-rich empire crumbling by the day, The Sunday Telegraph can reveal the coal baron will be told to cut ties and walk away for the good of the Newcastle club and community.

The most important meeting in the 24-year history of the Knights will take place at the offices of Bilbie Dan solicitors, the workplace of Knights Members Club chairman Nicholas Dan, tomorrow.

Given the Australian Tax Office has commenced wind-up proceedings against Tinkler for a $2.7 million debt and the NSW Government is suing him for $600,000 in unpaid rent on Hunter Stadium, the Knights Members Club board has been presented with little alternative.

For the sake of the Knights brand and the future of the club, the irrefutable damage about bills being constantly paid late must end here.

The Sunday Telegraph understands Tinkler will be asked to part ways with his $20 million bank guarantee and allow the Members Club board to take over the licence and the day-to-day running of the NRL club effective immediately.

Knights Members Club board chairman Dan was guarded when asked about the proposition yesterday, saying: "Our top priority is to keep the club going at its best, so we will be discussing all options.

"Owners come and go, players come and go but the club must always come first.

"Our number one prerogative will be to ensure the club will always have a presence in the NRL for our loyal supporters to follow.

"We owe it to the community to explore all options."

Behind the scenes, ex-Newcastle players in the Knights Old Boys club and other Novocastrian power-brokers have been privately preparing for Tinkler's empire to implode for months.

The Sunday Telegraph can reveal ex-CEO Steve Burraston and ex-chairman Rob Tew - the white knight who stood staunch on the terms of Tinkler's $20 million bank guarantee - have both been approached about an immediate return.

Under the terms of Tinkler's 10-year $100 million takeover, the white whale promised to bring in $10 million in sponsorship per season, stump up a $20 million bank guarantee and tip $2.5 million a year into junior development in the Hunter region.

Failure to deliver on any one of those safeguards is technically a breach of Tinkler and HSG's privatisation contract, meaning the Knights Members Club board can trigger an option to buy back the club for $1 and start drawing on the bank guarantee.

Tinkler also agreed to allow independent auditors to put a fine-tooth comb through the Knights' books every 12 months, with a detailed report to be handed over to the Members Club by December 15 every year.

That date passed yesterday but the auditors - Crosby, Warren and Sinclair - only began to examine the Knights books last Tuesday.

Another round of crisis talks last week bought HSG an extension on the audit date until January 21 and the $20 million bank guarantee was supposedly pushed out to January 31.

But given the ATO commenced wind-up proceedings last Thursday, all previous bets may now be called off by the Knights Members Club.

There is also growing concern in Newcastle about the way HSG does business, with bills repeatedly paid late. The Newcastle Rugby League club is reportedly owed $300,000, which is a breach of the Tinkler's privatistaion contract if it remains unpaid.

Online forums were lit up yesterday with Knights members urging Tinkler to cut his losses and hand back control of the club.



Knights going to cut and run by the looks of it, surprised they waited this long, cleared their $6m debt, their tax bill, now they are going to try and take him for his $20m bank guarantee, me thinks tinks is going to be well pissed,Will be interesting to see if they try and cosy up to those in the "Patrons Trust" again. Not sure what this is going to mean for us, might be time for us to all start breaking out the piggy banks, tinks might decide its all too hard (:whistling:) and throw in the towel for us as well and just fold HSG.

Pico
16-12-2012, 10:54 AM
ATO to get paid if this is so??
Thats really going to depend on what exactly has happened, reports only confirm All To Hard has been sold, not to mention this


The former billionaire was extended a loan recently by Harvey, reported to be $20 million, as his financial woes deepened.

He could actually be giving 2/3 away to cover the existing loan, although he did raise money from recent sales but surely not $20m

militiamon
16-12-2012, 12:19 PM
Knights going to cut and run by the looks of it, surprised they waited this long, cleared their $6m debt, their tax bill, now they are going to try and take him for his $20m bank guarantee, me thinks tinks is going to be well pissed,Will be interesting to see if they try and cosy up to those in the "Patrons Trust" again. Not sure what this is going to mean for us, might be time for us to all start breaking out the piggy banks, tinks might decide its all too hard (:whistling:) and throw in the towel for us as well and just fold HSG.

Daylight robbery.

"Cheers for the 20 mil Tinks, we no longer need you"
Disgrace.

MFKS
16-12-2012, 12:44 PM
But the issue here for the Knoughts is that if Tinkler gets the Audit in and all is good the Bank Guarantee shrinks from $20 million to $10 million overnight. Tinks will now be making every effort to be getting that audit in as it is worth potentially 10 million to him.

Also I don't see how the Knoughts Members would have a leg to stand on. After agreeing a deal the other day with Tinks they now wish to renege on it?? As Tinks currently holds the balance of power being the incumbent owner I am pretty certain if Tinks stood his ground the Knoughts would be getting **** all fast from Tinks and court action would more than likely see Tinks retain control if he could meet a few issues he has before it got to court

WolfMan
16-12-2012, 05:35 PM
Farcical endeavor by Knights Members Board or whatever they call themselves. The only way it would ever happen is if they agreed to waive the $20M guarantee. Until such time as Tinkler withdraws by his own volition, Knights are having a laugh.

Pico
16-12-2012, 05:39 PM
But the issue here for the Knoughts is that if Tinkler gets the Audit in and all is good the Bank Guarantee shrinks from $20 million to $10 million overnight. Tinks will now be making every effort to be getting that audit in as it is worth potentially 10 million to him.

Also I don't see how the Knoughts Members would have a leg to stand on. After agreeing a deal the other day with Tinks they now wish to renege on it?? As Tinks currently holds the balance of power being the incumbent owner I am pretty certain if Tinks stood his ground the Knoughts would be getting **** all fast from Tinks and court action would more than likely see Tinks retain control if he could meet a few issues he has before it got to court

Don't think so, the original deal was for this Saturday for the audit to be submitted, the revised deal also had a revised date, but was never signed off on, depends how the members club chooses to play it. Ultimately prior to the new deal being agreed the ATO action was started (Were the members notified of this who knows I think not) meaning they could use that action and the deal that was in place at the time to move against him, we'll just have to wait until tomorrow, the fact Nick Dan is not saying anything now after previously saying the agreement stood seems to indicate that at the very least the members club is considering its options. I think unless Tinks comes up with the money early this week the members will move against him, which might just be the reason for flogging off All To Hard. The problem for Tinks is that it could very well all be for nothing, if he can't show he's met all the other requirements, Newcastle Rugby League grants, $10m sponsorship etc the Members club will still have reasons to draw against the Bank Guarantee and force him to top it up, if he can't then they can gain control back from that as well.

What ever happens this week shapes as a very interesting time for newcastle sports fans.

Pico
16-12-2012, 05:43 PM
Farcical endeavor by Knights Members Board or whatever they call themselves. The only way it would ever happen is if they agreed to waive the $20M guarantee. Until such time as Tinkler withdraws by his own volition, Knights are having a laugh.

Knights member's club fully within their rights to take the dollars from the bank guarantee to make sure the club meets the agreed levels of funding its what it was designed for, fact is Tinks has a set of requirements he has to fill to maintain control if he fails to meet those it triggers access to the funds and the $1 buy back option the members club has, if only the jets had the same we'd all be laughing.

sammydog
16-12-2012, 10:02 PM
Knights going to cut and run by the looks of it, surprised they waited this long, cleared their $6m debt, their tax bill, now they are going to try and take him for his $20m bank guarantee, me thinks tinks is going to be well pissed,Will be interesting to see if they try and cosy up to those in the "Patrons Trust" again. Not sure what this is going to mean for us, might be time for us to all start breaking out the piggy banks, tinks might decide its all too hard (:whistling:) and throw in the towel for us as well and just fold HSG.

The biggest implications from this are the separation of the Knights/Jets. While things are far from equal in the way the clubs are treated internally, once they are completely separate entities again (particularly if tew/burraston are running the knights), watch the jets be treated with contempt and classed as second class citizens again.

Hopefully the knights out of it don't become the major tenants of the stadium again.

Going on from that though, if the jets are still run by HSG, and the knights aren't, it will be a massacre against us (well HSG and the jets by default) in the pages of the Herald.

If the Knights manage to complete the robbery of tinkler, becoming debt free and pocketing the $20million in the process, then the best thing for the Jets is a new owner as well, as if we stay under HSG, despite their intentions, there is too much bad blood in the town and media for it to end well for us.

Thomas477
16-12-2012, 10:59 PM
If the Knights manage to complete the robbery of tinkler, becoming debt free and pocketing the $20million in the process, then the best thing for the Jets is a new owner as well, as if we stay under HSG, despite their intentions, there is too much bad blood in the town and media for it to end well for us.

I don't think there would be bad blood on the Jets. To me at least, I am still pissed off at HSG for pulling the pin on us in April this year because they weren't getting their own way.

I think the best option is if there is another owner out there who won't micromanage things like Con and will continue on with the cheap tickets, great. If not, let HSG stay in control until Blackmac 's NUST is up and running, then the fans take over (although given the new TV deal, the required funds wouldn't nearly be as high as before)

Also, on the clubs blaming airfares for not having 5+ man bench, isn't one of the major sponser's QANTAS? Why the **** doesn't that agreement include cheap airfares? Especially given Perf and Wellington?

WolfMan
17-12-2012, 05:58 AM
I think the best option is if there is another owner out there who won't micromanage things like Con and will continue on with the cheap tickets, great. If not, let HSG stay in control until SB's NUST is up and running, then the fans take over (although given the new TV deal, the required funds wouldn't nearly be as high as before)



Think you mean Blackmac

hauss
17-12-2012, 09:10 AM
Knights member's club fully within their rights to take the dollars from the bank guarantee to make sure the club meets the agreed levels of funding its what it was designed for, fact is Tinks has a set of requirements he has to fill to maintain control if he fails to meet those it triggers access to the funds and the $1 buy back option the members club has, if only the jets had the same we'd all be laughing.

The financial statements are extremely important, especially given the fact that the club is sponsored by Hunter Ports. Who knows whether Tinkler actually paid for that sponsorship or not. If no funds were transferred and you have the ATO debt on top of it, it would add up to a significant hole in the club's finances.

Thomas477
17-12-2012, 09:32 PM
Think you mean Blackmac

Yeah, that too :whistling:

boz-monaut
17-12-2012, 09:44 PM
Tinks is still in charge of the Knights - http://www.theherald.com.au/story/1191782/tinkler-remains-in-charge-of-knights/?cs=303

MFKS
17-12-2012, 10:27 PM
Always gonna be in charge of the Knights until he decides he doesn't want to. The Knights Members Club would have **** all hope of taking the club from him without going to court. In that time Tinks pays his bills and they don't have a leg to ****ing stand on

plague
17-12-2012, 10:45 PM
I love how the mouthpiece for the Ultra "Knights Members" is telling Tinks he has an obligation to the community re:the footy team is the same bloke who is currently spending his days attempting to defend a disgraced politician against some of the most damning allegations of corruption in the history of Australian politics.
But anyway, hes probably just doing his job eh, not like he has any 'obligation to the community or anything'.

Give me a break.

These blokes crying about Tinks now are the same pigs who had they snouts in the Knights trough for years running the club into the ground. The fact that Tinks didnt want a bar of them touching his cash has fuelled this animosity. Add to that their mates in the local rag and Tinks was always going to be painted as the bad guy.

Tinks 4 eva.

MFKS
17-12-2012, 11:06 PM
I love how the mouthpiece for the Ultra "Knights Members" is telling Tinks he has an obligation to the community re:the footy team is the same bloke who is currently spending his days attempting to defend a disgraced politician against some of the most damning allegations of corruption in the history of Australian politics.
But anyway, hes probably just doing his job eh, not like he has any 'obligation to the community or anything'.

Give me a break.

These blokes crying about Tinks now are the same pigs who had they snouts in the Knights trough for years running the club into the ground. The fact that Tinks didnt want a bar of them touching his cash has fuelled this animosity. Add to that their mates in the local rag and Tinks was always going to be painted as the bad guy.

Tinks 4 eva.

The other mostly moronic aspect to all this is all the clowns out in Newy who treat Tew and Burraston as some sort of messiahs for forseeing Tinks alleged financial issues yet forget to acknowledge the shitty job the two were doing at running the club when they were in charge.

Almost as dumb as the idiots who talked HSG into thinking it would be a good idea to bring the Egg back when Culina got sacked.:wtf:

What sort of shit was that Advisory Board smoking that day??? :wacko: :sparring:

MFKS
01-01-2013, 10:37 PM
Interesting that it was about the middle of December that Palmer met with the Knights and said that HSG's issues with the ATO would be settled in 7-10 days. Now we are into 2013 and still no sign of it being sorted yet.

Probably be the usual spiel about 7-10 business days and we have barely had them due to weekend public holidays etc

Got to feel for Troy Palmer.

Knocking out excuse after excuse for Tinks yet he never fails to come up with the same one twice!!!

Pico
02-01-2013, 10:14 AM
Spoke too soon Member, apparently Tinks does not go shouting from the roof tops about paying his bills and the herald like to wait it out before reporting it, probably just checking their sources and all that, or they had forgot and only remembered when they read your post.


Tinkler pays league debt, tax deal tipped
By BRETT KEEBLE and IAN KIRKWOOD
Jan. 1, 2013, 10:30 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-36mDshx2U2dAuMR3XyjpW6R/700aa5d3-6e4c-42b2-be1c-7970e7036601.jpg
PAYING BILLS: Nathan Tinkler remains under pressure.


NATHAN Tinkler’s Hunter Sports Group (HSG) has made good on its 2012 commitment of $300,000 in funding to the Newcastle Rugby League.

In another development, HSG is tipped to settle a $3.19 million Australian Taxation Office debt next week.

HSG’s financial obligation to the Newcastle Rugby League was one of the key components of the privatisation agreement signed in August 2011 when Mr Tinkler officially took control of the Knights.

The other major requirements were underwriting $10million in sponsorship, $2.5million in funding for junior development, and providing sufficient working capital for the day-to-day running of the National Rugby League club’s football and administrative operations.

Newcastle Rugby League chairman Trevor Crow confirmed on Tuesday the balance was deposited into the league’s bank account on December 21.

Although Mr Crow would not comment when asked how much was owed, the Newcastle Herald understands the final payment was more than $100,000.

HSG chief executive Troy Palmer did not return a text message from the Herald.

The ATO moved in the Federal Court on December 12 to liquidate eight companies linked to Mr Tinkler, including HSG, the Knights and Jets soccer club, seeking $3.19 million in unpaid tax.

Those matters are listed to be heard in the Federal Court in Sydney on February 20 and 22.

Mr Palmer told the Herald on December 16 that the ATO bill would be paid ‘‘in the next seven to 10 days’’.

That deadline has come and gone, but Knights chief executive Matt Gidley said last Friday that he anticipated the bill would be settled next week.

Even if the Tinkler camp can satisfy the ATO in relation to the court cases against HSG, the Knights and the Jets, insolvency experts have indicated this may not be the end of the matter.

Under the laws that have allowed the tax office to take action, others owed money by the companies involved can step in as ‘‘petitioning creditors’’ to keep the court case alive.

Although no one is certain what will happen, the Herald understands the threat will remain at least until the cases resume in the Federal Court in Sydney on February 20 and 22, even if the tax office is paid in the meantime.

An audit into the club’s 2012 financial operations was originally due on December 15, as specified in the deed of sale agreement signed by both parties in August 2011.

But HSG and the Knights Members Club agreed last month to move the audit reporting date from December 15 to January 21, and extend the $20 million bank guarantee underpinning the agreement from December 31 to January 31.
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The guarantee will decrease to $10.3 million on January 31.

Mr Palmer told the Herald on December 16 that all milestones, which include the Newcastle Rugby League funding, would be met.

Meanwhile, Mr Tinkler’s embattled Patinack horse-racing empire suffered another setback on Monday when Racing Queensland stewards raided his training property at Canungra, south of Brisbane, after Patinack scratched all four of its runners at last Saturday’s Doomben meeting.

Racing Queensland stewards and a veterinary officer inspected the Canungra training base on Monday. Subsequently, Patinack will not field any Queensland-based runners until next week because of a broken water-walker and a dirty swimming pool requiring urgent maintenance.

Pico
04-01-2013, 08:37 AM
Tinkler pays off stadium hire debt
By MICHELLE HARRIS State Political Reporter
Jan. 3, 2013, 11:16 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-5kfsp4NEeEvSvAN3kC8tUn/d7c9aca5-2256-4df6-a478-998ddbd09470.jpg

NATHAN Tinkler's Hunter Sports Group (HSG) has stumped up nearly $600,000 it owed for the Knights use of Hunter Stadium, heading off further legal action that the state government launched last month to recover the rent.


But payment of another $400,000 that HSG disputes it owes for a turf bill dating back to 2010 is still up in the air.

The separate issue of a 10-year access agreement for the stadium with Venues NSW, the authority that manages the stadium for the state government, is also unresolved.

In a statement on Thursday night, Venues NSW chairman John Quayle confirmed it had received payment "of the agreed outstanding debt".

"We are now getting on with the business of finalising a new tenancy agreement to secure the long-term future of both the Knights and the Jets at one of the best sporting facilities in NSW," Mr Quayle said.

"It is my preference to have a new agreement in place before the 2013 National Rugby League season kicked off."

The initial debt, for the Knights stadium hire and catering, was $883,000.

HSG deposited $300,000 and agreed to settle the outstanding amount by November 21.
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But when no money was received the government launched legal action in December, saying it had a duty to protect taxpayers' money.

A HSG spokesman declined to comment on Thursday and reiterated it did not believe the $400,000 turf bill was its responsibility, involving instead "previous management" of the Knights.

HSG has previously said it would pay the balance of the agreed debt on completion of the access agreement.

http://www.theherald.com.au/story/1216621/tinkler-pays-off-stadium-hire-debt/?cs=305


Another one down, but a few more still to go, maybe the odd increase in Whitehaven from that Chinese takeover speculation is helping Tinks balance the books.

belchardo
07-01-2013, 08:04 PM
Whitehaven Coal shares plunge after media hoax
http://www.abc.net.au/news/2013-01-07/whitehaven-coal-shares-plunge-after-media-hoax/4455362

front2
07-01-2013, 11:40 PM
Whitehaven Coal shares plunge after media hoax


http://www.abc.net.au/news/2013-01-07/whitehaven-coal-shares-plunge-after-media-hoax/4455362

I picked up on this earlier too. I think by now the Tinkmaster is managing the good and bad by stealth measures.

Pico
19-01-2013, 08:51 AM
Tinkler company tax bills settled
By STEPHEN RYAN
Jan. 18, 2013, 10 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-5kfsp4NEeEvSvAN3kC8tUn/c90ddc5f-e0d3-495b-87ea-d22feb75868b.jpg
Nathan Tinkler

THREE Nathan Tinkler-associated companies settled their tax debts in Brisbane yesterday while a fourth is set to face the Federal Court in Sydney next month.
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A spokesman for Mr Tinkler said Tinkler Group Aviation, Aston Resources and TPV Newcastle all settled their disputes with the Australian Tax Office, but the spokesman declined to say how much money was paid.

The tax office began wind-up proceedings against another Tinkler-aligned company called Buildev Development (NSW) Pty Ltd before Christmas with a date set in the Federal Court for February 27.

Lawyers DLA Piper Australia lodged their notice of appearance on behalf of Buildev Developments last week.

The tax office declined to comment on the case yesterday while Mr Tinkler's spokesman said they were old matters that had already been reported.

The tax office filed the wind-up application on Buildev Developments (NSW) the day after it moved to liquidate eight Tinkler companies including the Hunter Sports Group, which owns the Newcastle Jets and Knights.

Documents filed with the Federal Court stated that the eight companies, including the Knights and Jets, owed a total of $3.19 million in unpaid tax

http://www.theherald.com.au/story/1244614/tinkler-company-tax-bills-settled/?cs=305


Another few down for tinks but can he keep it up.

Pico
19-01-2013, 08:54 AM
Tinkler delivers Knights audit
By ROBERT DILLON
Jan. 18, 2013, 10:26 p.m.

http://cdn.fairfaxregional.com.au/preview/c1200x678/storypad-5kfsp4NEeEvSvAN3kC8tUn/849f37ea-fb93-41ea-b457-4a62a7afa24a.jpg
Nathan Tinkler.

THE board of the Knights members’ club were delivered an independent audit yesterday that Hunter Sports Group officials said would prove all terms and conditions of Nathan Tinkler’s 2011 takeover had been honoured.
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The audit, conducted by Crosbie Warren Sinclair, was initially due on December15 but was deferred when Knights officials and the members’ club agreed on an extension until Monday.

The chairman of the members club, Nick Dan, said he had inspected the document briefly but would discuss it in detail with his fellow board members next week.

They have until January31 to rubber-stamp the auditors’ report or lodge any objections.

‘‘I’ve scanned it, but I have not yet sat down with it to go over it,’’ Dan said last night.

‘‘I’ve opened it up, had a look at some figures and put it on the weekend pile.

‘‘I want to give the other fellows a chance to look at it and get their feedback on Monday or Tuesday.’’

In a statement to Knights members, HSG chief executive Troy Palmer said there should never have been any concern that all stipulations would be upheld.

These included guaranteeing $10million in sponsorship, $2.5million in funding for junior development and $300,000 for the Newcastle Rugby League, and providing enough working capital for the day-to-day running of the club.
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“Completing this audit and hitting the milestones were never in doubt, which we had advised from day one,” Palmer said. “We are disappointed in the publicity that this has received when we have always shown our commitment to the Knights and this region.’’

Knights advisory board chairman Paul Harragon was confident there would be no need for extensions for the annual audit in future. It would also be a ‘‘much simpler process from here’’.

“This issue over the dates, through no fault of anyone, should never raise its head again and we are confident it will be a simpler process from here,” Harragon said.

http://www.theherald.com.au/story/1244889/tinkler-delivers-knights-audit/?cs=306


HSG will be sweeting on this audit being accepted as is, that will cut that $20m bank guarantee in half.

Raw Boned Youngster
11-02-2013, 08:19 PM
Whitehaven sorted, share prices to rise, Tinks looking good

plague
20-02-2013, 12:48 PM
Tinks, still sticking it to tha man.
Probably sitting back with a beer having a laugh right now.

Love ya big fella.

Grunta
27-02-2013, 10:24 AM
Whitehaven announced $40 something mil loss share price dropped 3% yesterday

Pico
25-03-2013, 10:47 AM
ATO seizes Tinkler company cash
2 hours ago

Industries
Resources and Energy

The Australian Taxation Office has seized money from a private company linked to troubled coal baron Nathan Tinkler, after it failed to pay a $129,000 tax bill, according to the Australian Financial Review.

The newspaper reported that Oceltip, which Mr Tinkler part-owns with former business partner Matthew Higgins, failed to pay tax on royalty payments from the Middlemount mine in Queensland.

Mr Tinkler is entitled to 75 per cent of the royalty, which has a net present value of between $28 million and $34 million, and Mr Higgins is due 25 per cent.

Mr Higgins is suing Mr Tinkler, Oceltip and the trustee for the Tinkler family trust, accusing him of diverting $1.12 million worth of royalties owed to him to the trust.

Mr Tinkler denies the allegations.

Separately, the NSW Supreme Court last week heard that Mr Tinkler draws money from a $1.4 billion trust held in the name of his wife.

The one-time billionaire also declared a taxable income of just $9,834 in 2010/11, in the form of interest from bank accounts.

And he expects to have a similar taxable income for 2011/12.

The structure of Mr Tinkler's wealth was revealed during a liquidator's examination in the court.

http://www.businessspectator.com.au/news/2013/3/25/resources-and-energy/ato-seizes-tinkler-company-cash


April 5 fast approaching and we haven't heard any more about that jets tax debt being paid.

Pico
25-03-2013, 10:51 AM
Nathan Tinkler believed a disgruntled ex-employee leaked commercially sensitive details of $700 million in loans from hedge fund Farallon Capital and others to the media, as concerns about his financial position intensified in November last year.

The revelations – which can be reported after a suppression order was partially lifted following a last minute settlement on Wednesday – is the latest in a spate of moves by the mining entrepreneur to tightly guard information about his solvency.

There was widespread reporting that Mr Tinkler’s loan – which was held against his 19.4 per cent stake in Whitehaven – could be called in after the value of his Whitehaven shares collapsed.

On Wednesday Whitehaven shares closed at their lowest point since May 2009, down 4¢ to $2.28.

The struggling mining entrepreneur’s solvency has been a matter of intense speculation for the past year, but court documents which can now be reported show he was so concerned about media speculation he sought a super injunction to prevent Fairfax media reporting details of his finances, some of which were already public.

The revelation that he took this unprecedented and extraordinary step to suppress the media from reporting on his financial affairs comes less than a week after he was forced to front court over a separate failed company and amid growing speculation about his liabilities.

Mr Tinkler relocated to Singapore last year in an attempt to escape the glare of the Australian media.

Since then a number of his companies have come close to going under, but a last-minute deal has always been nutted out.

The once rotund coal baron failed to obtain financing for a $5.25 billion takeover proposal for Whitehaven shortly after he had signed a deal with another coal company, Blackwood Corporation, to buy $28.4 million worth of shares last May. And then, in November, he lost a very public attempt to spill the board of Whitehaven, which has been plagued by operational issues at its coal mines and short selling on the back of dramas with its key shareholder.

Mr Tinkler’s luck executing last minute deals ran out with Blackwood after it filed an application to wind up his private vehicle Mulsanne Resources, which was placed in the hands of liquidators in November.

There has been ongoing speculation about Mr Tinkler’s financial position, after he took on huge levels of debt before the coal market turned in the middle of last year.

However only a handful of Mr Tinkler’s key lieutenants knew the details of the Farallon loans, one or more of whom Mr Tinkler now thinks leaked the details to Fairfax.

He obtained a super injunction to prevent Fairfax Media, publisher of The Australian Financial Review, printing details of the Farallon loan and demanded Sydney Morning Herald journalist Paddy Manning reveal his sources. The suppression order was partially lifted on Wednesday in Melbourne’s Supreme Court.

The loan was between Aston Resources, which merged with Whitehaven before the failed takeover attempt, Mr Tinkler and Farrallon.

In documents tendered before court in the Blackwood hearing last week, it was revealed Ray Zage, the managing director of Farallon subsidiary, Singapore-based Noonday Asset Management was in discussions with Mr Tinkler about funding the Blackwood deal, but ultimately was not prepared to take on the risk.

In court last week Mr Tinkler said he went to Noonday last year to help finance the Blackwood proposal, but was told no. “They had a lot on at the time and were cautious on the coal market,” he said. “They said they couldn’t look at it at the time.”

It also emerged the majority of Mr Tinkler’s assets were hidden in a family trust worth $1.4 billion, which he claimed held $600 million worth of liabilities.

Mr Tinkler is embroiled in a lawsuit with the former head of Aston Resources, Hamish Collins, over unpaid entitlements and is thought to have walked a number of employees out of the business last October after accusing them of leaking information to the media. Other Tinkler Group debts are thought to be held mostly against property.

http://www.brw.com.au/p/business/nathan_tinkler_blamed_loan_employee_acmEpOMNNTfiNU wrK9pV5L


Explains the frosty relationship with The Herald.

Pico
25-03-2013, 11:00 AM
Tinkler’s wife controls $1.4bn trust

Mining magnate Nathan Tinkler has revealed that he has a family trust, controlled by his wife, with $1.4 billion of assets and $600 million of liabilities against it.

Mr Tinkler told the NSW Supreme Court he was “asset rich and cash poor at the moment”. He did not explain how he valued the assets in the trust, held in his wife Rebecca’s name. The trust includes shares in Whitehaven Coal.

In a public examination following his private company Mulsanne Resources’s failure to come up with $28.4 million for Blackwood Corp shares he agreed to buy last year, Mr Tinkler was asked why he had only $9834 of income in 2010-2011, all of it from interest on bank accounts.

Mr Tinkler said he relied on distributions from a tax-effective unit trust in which his wife is the trustee and the sole unit holder. He said the only asset in his own name was a farm in Port *Macquarie worth about $700,000.

Mr Tinkler also said he had about $250,000 in joint bank accounts with his wife.

Robert Newlinds, SC, acting for the liquidator of Mulsanne, told the court the trust assets were relevant when considering whether they could be *pursued in the event Mr Tinkler was made bankrupt. Mr Tinkler said he did not know the overall distributions he received last year, but said they were usually made quarterly by his wife.


“I’m very lucky,” he told Mr Newlinds, who foreshadowed he would need to ask Mrs Tinkler questions about the trust.

Mr Tinkler said the trust’s $1.4 billion of assets included his shares in Whitehaven Coal. Other assets include his horse operation Patinack Farm, which he said could be sold for more than $100 million profit after repaying debt.

Mr Tinkler said other trust holdings included Aston Metals, which owns undeveloped copper assets and Hunter Ports and Hunter Rail, which have so far failed in attempts to develop *infrastructure projects.

Mr Tinkler admitted there would be liquidity issues if he attempted to sell some of his holdings. He did not reveal how he calculated the value of the trust’s assets, which in the case of the undeveloped projects would be highly subjective, but said: “They all have very good value.”

Under questioning about his failure to raise a promised $28.4 million to buy shares in Blackwood, Mr Tinkler said he had considered several forms of financing. His preferred option, a deal to sell his royalty over the Middlemount coalmine to Hong Kong commodities trader Noble Group, wasn’t executed amid falling coal prices.

“I quickly worked out I was hung out to dry,” he said of the failed deal.

Mr Tinkler said he had a line of credit with Westpac, but it could not be used for the placement because it was linked to Patinack Farm.

He approached investment banks and hedge funds such as Hong Kong’s Och-Ziff and Singapore’s Noonday for funding to buy the Blackwood stake, but he said he did not contact *commercial banks.

“Normal banks don’t understand my business model,” he said. “They don’t understand how I create my wealth.”

He then explained his wealth had been created by identifying attractive mining projects and then financing them by bringing in partners.

When asked what his Whitehaven shares were worth, Mr Tinkler said probably less than the headline trading value because his large stake could be harder to sell than individual shares.

“I don’t think it is unlikely you could sell them as a block,” Mr Tinkler said.

He said he didn't want to use his shares as security for Blackwood.

http://www.afr.com/p/markets/market_wrap/tinkler_wife_controls_bn_trust_EhyLrXegjShblygovS1 ZSK



Looks like Tinks keeps most of the important things in his wife's name so he's free to go around starting companies and projects with those important assets a lot safer, how safe I guess we might see soon.

Pico
25-03-2013, 11:09 AM
Tinkler marriage split rumours

Nathan Tinkler told a packed courtroom a week ago he was ''very lucky'' to have access to tax-free income from his wife Rebecca's family trust, worth as much as $1.4 billion.

But Mr Tinkler's luck may be running out amid swirling rumour he has split with Rebecca, who has moved into their Maui mansion with their four children, aged four to 12.

Mr Tinkler, a Singapore resident, was seen at last weekend's Melbourne Grand Prix in close company with long-time executive assistant, Tinkler Group administration manager Jodie van Gilst.

Mr Tinkler's Hunter Sports Group had a car running in the second round of the Porsche Carrera Cup last weekend, driven by Steven Johnson and placing fifth.

A spokesman said Mr Tinkler and Ms van Gilst were at the grand prix on business and denied all suggestion of a split with his wife.

Over the previous two days Mr Tinkler was in Sydney giving sensational evidence in the Supreme Court, during examinations by the liquidator of his shelf company Mulsanne Resources, which was wound up last year over an unpaid $28.4 million debt to listed coal company Blackwood Corporation.

Mr Tinkler, who faced possible arrest if he did not turn up to the examinations, told the courtroom that his wife Rebecca was the sole trustee and unit-holder of the Tinkler Group Family Trust, which held most of the assets of his business empire including various properties, his 19.4 per cent stake in Whitehaven Coal, the unlisted explorer Aston Metals, the Hunter Ports, Hunter Rail and Hunter Sports Group, and the Patinack Farm thoroughbred stud.

Mr Tinkler declared just $9834 in personal taxable income in the 2011 tax year.

Mr Tinkler told Robert Newlinds, SC, the liquidator's barrister, that he was able to draw cash from his wife's trust tax-free.

''Is that what happens?'' Mr Newlinds asked, ''your wife gives you money from time to time?'' Mr Tinkler replied: ''I'm very lucky, yes.''

Mr Tinkler's financial situation has been subject of intense speculation as the value of his main asset, the Whitehaven stake, has fallen 40 per cent this year.

There has been a string of legal actions including initiation late last year by the Tax Office of wind-up proceedings against the entities that own football clubs the Newcastle Knights and Jets. The Knights dispute has been resolved but a dispute over the Jets tax bill is continuing.

Mr and Mrs Tinkler moved to Singapore's Sentosa Cove last year, although reports last September suggested they lived in separate, rented homes. Mr Tinkler's Queen St Property Holdings paid $US15 million for a six-bedroom mansion in Maui's exclusive Makena district in 2011.

A relative of Ms van Gilst's based in Queensland was not prepared to comment. Mrs Tinkler could not be contacted.

http://www.smh.com.au/nsw/tinkler-marriage-split-rumours-20130323-2gmkc.html#ixzz2OVNMfxlK



So HSG is tied up with this trust owned by Tinks Mrs, the Knights and Jets companies are both owned by HSG, so I guess we will be tied to this trust. Still no more mention of the tax bill being paid.

Pico
02-04-2013, 11:08 AM
Tinkler walks away from racing
By MICHAEL SHARKIE
April 2, 2013, 9:39 a.m.

NATHAN Tinkler's Patinack Farm is officially on the market as the mining millionaire looks to walk away from his six-year-old racing and breeding business.

After months of speculation over the future of Patinack Farm and a possible dispersal sale to reduce existing stock numbers, Fairfax Media understands that the entire racing and breeding business, including stock and properties, is now on the market, with major international buyers tipped to be considering a total buy-out of the organisation.

Patinack Farm owns a major 3700 acre breeding property in the Hunter Valley of Sandy Hollow in New South Wales and a 1000 acre breeding and racing property at Canungra in Queensland, as well as holding stables at Randwick.

Patinack currently owns 10 stallions including Casino Prince, the sire of superstar All Too Hard.

The Patinack Farm business will continue to operate as normal until the business is sold.

http://www.theherald.com.au/story/1403024/tinkler-walks-away-from-racing/?cs=303


Not sure what this means as far as the tax debt that needs to be paid in 2 days time, unless that 4th April date has changed.

Another Article quotes a source saying Thompson, his head trainer, has visited stables and informed staff its all over & will be closed in 8 weeks time.

On the bright side if we go under GVE's contract would be voided too.

plague
02-04-2013, 11:13 AM
Info came across this morning that May 1st was shutdown regardless if it sold or not.
Since then its been stated that it will remain open until a buyer is found.

MFKS
04-04-2013, 12:55 PM
HE value of Gunnedah-based Whitehaven Coal continued to fall on Wednesday, trading for most of the day at less than $2 a share.

Nearly two-thirds of Whitehaven’s value has evaporated since April last year when it merged with Nathan Tinkler’s company, Aston Resources.

The share price graph shows a steady decline from the $5.48 closing price on April 19 last year to Wednesday’s close of $1.97.

In that time, Mr Tinkler’s 19.4per cent stake has fallen in paper value from $1billion to just $400million, substantially less than the $500million to $600million he estimated his borrowings to be at a recent court examination.

Neither Whitehaven nor the Tinkler camp offered comment on the dramatic share slide, which is viewed in the market as a mixture of the coal industry downturn and uncertainty over Mr Tinkler’s financial future.

Whitehaven has had to shut loss-making operations, while the Maules Creek mine it acquired from the merger is costing more and taking longer to build than was originally predicted. :popcorn:

sh10
04-04-2013, 01:12 PM
I recommend buying Whitehaven shares now - the only way is up

belchardo
04-04-2013, 07:24 PM
I recommend buying Whitehaven shares now - the only way is up


http://www.youtube.com/watch?v=UtKADQnjQmc

MFKS
05-04-2013, 12:17 PM
Tinkler makes Jets, Buildev tax payments
By MICHELLE HARRIS
April 5, 2013, 10:35 a.m.

A STRING of Nathan Tinkler-linked entities including the Newcastle Jets and Buildev have made payments towards outstanding tax debts, the Federal Court in Sydney has been told this morning.

But the proceedings are still to be completely resolved, with all matters adjourned for a week or until next month while negotiations continue.

The Australian Tax Office had moved to liquidate Buildev Group and four related companies last year, chasing more than $620,000 in unpaid tax.

As well, documents previously filed with the court in Sydney said the Jets owed just over $1 million and the Hunter Valley Sports Group $184,000.

All cases returned to the court this morning, when a representative for the ATO said that ‘‘a payment’’ had been made in the relation to Buildev Group and BD (Qld) Project.

If that cleared within a week, the ATO would seek to discontinue its proceedings, although another creditor may then seek to be substituted in its place, the court heard.

Those matters, and another involving Buildev Development (QLD) were adjourned to April 12.

The Newcastle Jets, Hunter Valley Sports Group and Buildev Aviation had also made payments, and the parties sought a six-week adjournment to allow further negotiations.

An adjournment until May 17 was also sought for the ATO’s proceedings against Buildev Development (NSW).

The court was told the defendant wanted to file evidence that it was still solvent..

Grimario
09-05-2013, 09:52 AM
http://www.theage.com.au/business/tinkler-wife-face-threat-of-bankruptcy-20130508-2j7z7.html



Embattled coalminer Nathan Tinkler and his wife could be made bankrupt over $440,000 in allegedly unpaid bills to a corporate adviser.
In the latest in a series of lawsuits targeting Mr Tinkler, corporate adviser BKK Partners has for the first time directly sued Rebecca Tinkler, who is trustee of the family trust.
BKK has filed two suits in an attempt to recover the money - one against Tinkler Group in the Federal Court, and the other against Mr and Mrs Tinkler in the NSW Supreme Court.

In a separate action in March, Mr Tinkler told the NSW Supreme Court that the Tinkler Group Family Trust
held assets of about $1.4 billion, but had debts of up to $600 million, and that Mrs Tinkler controlled the trust.
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BKK was hired by Mr Tinkler in March last year to advise him on what turned out to be a failed bid to take over Whitehaven Coal for $5 billion.
According to a statement of claim filed with the NSW Supreme Court, the advisory group was to be paid a retainer of $50,000 a month.
While Mr Tinkler paid some of the invoices received, he allegedly failed to pay a November invoice for $220,000 and a February invoice for the same amount.
''The retainer agreement was entered into by Nathan Tinkler on behalf of the Tinkler Group, as well as its affiliates and related parties, which includes Nathan Tinkler personally and his wife, Rebecca Tinkler, who we understand is the trustee of the Tinkler Family Trust,'' Marc Ryckmans, a partner at legal firm Somerset Ryckmans, told BusinessDay.
''If we are successful in obtaining a judgment against them, then BKK would be entitled to commence bankruptcy proceedings against Nathan Tinkler and his wife.''
Mr Tinkler's lawyer at DLA Piper declined to comment when contacted by Fairfax Media.
BKK's other case against the Tinkler interests is a winding-up application filed in the Federal Court in NSW against the Tinkler Group over unpaid fees of $220,000, an amount also claimed in the Supreme Court proceeding.
In April Mr Tinkler rid himself of two of his other court cases after paying a tax bill and settling a royalties dispute with former business partner Matthew Higgins.
Last week in the NSW Supreme Court, Ferrier Hodgson, the liquidator of another of Mr Tinkler's companies, Mulsanne Resources, alleged that Mr Tinkler, fellow director Matthew Keen and in-house lawyer Aimee Hyde traded while insolvent and breached their duties to the company.

GazFish35
09-05-2013, 10:03 AM
The sky is looking closer to the ground today

Pico
17-05-2013, 01:20 PM
COAL baron Nathan Tinkler has settled four outstanding debts with the Australian Taxation Office, including unpaid tax relating to his Newcastle Jets football club and Hunter Valley Sports Group.

Mr Tinkler has reached an in-principle settlement with the tax office over the debts.

In the Federal Court today, a lawyer for the Deputy Commissioner for Taxation said there had been a “meeting of the minds” between Mr Tinkler and the ATO about debts owed by four of his companies.

The companies include the Newcastle Jets Football Operations, Hunter Valley Sports Group, Buildev Aviation, and Buildev Development (NSW).

Hunters Valley Sports is the owner of the Newcastle Jets Football Club and the Newcastle Knights rugby league team.

The Federal Court was told that “a proposal had been accepted” by the Tax Office and Mr Tinkler but that both parties wanted more time to settle.

Earlier this year, Mr Tinkler’s Buildev Group and four related companies were reported to have owed the ATO more than $600,000.

He was also originally being pursued over a large debt owed by the Hunter Valley Sports Group to the ATO.

But in April, lawyers for the Tax Office told the Federal Court there were no more debts owed by Buildev Group, Buildev Development (Queensland), and BD (Qld) Project G075, though two of those cases were not dismissed because another creditor wanted to be substituted.

However, on Friday that substituted creditor agreed to settle with Mr Tinkler on matters involving Buildev Group and BD (Qld) Project G075.

The judge ordered that both those proceedings be dismissed with parties to pay their own costs.

www.theherald.com.au/story/1508580/tinkler-settles-four-ato-debts/?cs=305


Looks like it has at least stopped falling for now.

belchardo
21-05-2013, 09:09 PM
anybody want to buy a house?


seven-bedroom, five-bathroom country estate, on four hectares on Brisbane's outskirts, features a home cinema, a gym, a climate-controlled wine cellar that can house 3500 bottles and a nine-car garage

a bar, complete with beer tap, that looks out to a pool with two waterslides.

The 1600-square-metre home is spread across two levels and also has a pool room with a blue felt table, vintage arcade game cabinet, a foosball table and a jukebox.

An indoor teppanyaki grill seats eight people and there is also a fully appointed beauty salon and solarium.

Outside, the property has a floodlit tennis court, a two-bedroom guesthouse and a vast manicured front lawn

http://smh.domain.com.au/real-estate-news/tinkler-mansion-put--up-for-sale-20130521-2jyc7.html

skippy
22-05-2013, 03:30 PM
anybody want to buy a house?



http://smh.domain.com.au/real-estate-news/tinkler-mansion-put--up-for-sale-20130521-2jyc7.html

Can guarantee that the gym hasn't been touched since Tinks bought it

MFKS
04-06-2013, 12:00 PM
MINER Blackwood Corp has agreed on a settlement proposal with Nathan Tinkler under which the embattled coal baron would pay $12 million to settle an outstanding $28.4 million share placement debt.
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Blackwood and Mr Tinkler have entered a Deed of Settlement and Release under which Mr Tinkler’s companies will pay $12 million to Blackwood to terminate a Share Placement Agreement, clearing Mr Tinkler’s debt and leaving him with no shares in Blackwood.

Blackwood has suspended legal proceedings against Mr Tinkler until June 30 to allow the money to be paid.

If the money is not paid by the deadline, the legal proceedings, which include a freezing order application, will resume.

In an announcement to the market, Blackwood said some of Mr Tinkler’s companies and his family trust had provided irrevocable undertakings that, if ‘‘certain assets’’ were sold and generated $12 million in net profits, those sale proceeds would be paid to Blackwood.

Blackwood forced Mr Tinkler’s Mulsanne Resources into liquidation in 2012 after Mulsanne failed to pay $28.4 million for a one-third stake in Blackwood.
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Mr Tinkler faced a liquidators’ examination into the state of his assets in the NSW Supreme court in March.In May, the liquidators applied to freeze Mr Tinkler’s assets and those of his wife, as trustee of the Tinkler Family Trust, while legal action against Mr Tinkler and Mulsanne’s directors for alleged insolvent trading proceeds.

Those actions are now on hold pending the payment of the proposed settlement.

this bloke is like a cat with not 9 lives but 9000 lives the way he gets a deal done to save his arse.

plague
04-06-2013, 03:19 PM
Cash is king in this world Member.
Bird in the hand etc etc.
This mob should be happy Uncle Tinks is giving them that much.
Big fella would no doubt have that $12m in his centre console.

Tinks wins again.
Love that bloke.

militiamon
04-06-2013, 03:23 PM
The Anti-Middleby.

Pico
06-06-2013, 07:44 AM
Patinack withdrawals have buyers on warpath

Patinack Farm has withdrawn 22 lots from Friday's National racehorse sales on the Gold Coast as owner Nathan Tinkler, through an agent, bought back several yearlings, leaving rival buyers angry and disappointed.

It was a remarkable day at Magic Millions on Wednesday as some well-bred yearlings, part of the supposed Patinack Farm reduction sale, were sold to what Fairfax believes were the bids of Tinkler.

Hong Kong trainer Tony Millard was the underbidder on a couple of yearlings, which sold to Magic Millions as agent.

''It is just disappointing that you come here to find out the horses weren't for sale,'' Millard said. ''We set our sights on a couple of nice types, and missed out, [and] because of that we missed out on other horses we would have bought [earlier].''
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The top five lots of the yearling sale were Patinack Farm reduction stock, which went for $250,000 and above, with four selling to Magic Millions as agent and the other to Tinkler's trainer, John Thompson. The top price was $500,000 for a Manduro filly out of Endless, which is a close relation to English superstar Frankel.

It is unclear if Tinkler settling a dispute with Blackwood Corporation for $12 million earlier in the week freed him up to keep some of his bloodstock.

Magic Millions managing director Vin Cox was fielding complaints from bloodstock agents, who felt they had wasted their time going to the Gold Coast.

Some agents were considering leaving the Gold Coast on Wednesday night after the announcement of the withdrawals from Friday's sale, which include highly rated Peron and Melbourne Cup prospect Tremec.

''It is always disappointing when you have withdrawals,'' Cox said. ''It is unfortunate … but [Tinkler] owns the horses, and it is his prerogative to do what he feels is right.''

Tremec was at the top of the shopping list for trainer David Hayes. ''It is just disappointing because we came up to have a crack at a couple of horses, and they won't be there,'' he said.

Meanwhile, Sizzling maintained favouritism for Saturday's Stradbroke despite drawing barrier 18 on Wednesday.

www.smh.com.au/sport/horseracing/patinack--withdrawals-have-buyers-on-warpath-20130605-2nqjs.html#ixzz2VNdpjiTA



So Tinks sells the horses from Patinack & then buys them back through an agent, when I originally read on Tuesday that he had engaged an agent to bid on some stock I thought he was just going to try and drive the prices up, maybe that settlement from Blackwoods has freed up a bit more cash, or this is all part of his plans for reacquiring his assets & shielding them from bankruptcy.

Pico
06-06-2013, 07:48 AM
Tinkler resolves claim by BKK Partners

The dust has settled on the legal dispute between embattled coal miner Nathan Tinkler and corporate adviser BKK Partners.

The Federal Court heard this morning that BKK Partners will withdraw from proceedings against Mr Tinkler after the two parties found a resolution two weeks ago.

The dispute arose after BKK Partners last year advised Mr Tinkler on his failed takeover bid for Whitehaven Coal.

BKK claimed it was promised a retainer of $50,000 a month for its services to Mr Tinkler, of which $220,000 was allegedly not paid.
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But in the Federal Court last month district registrar Michael Wall heard the matter had been resolved.

This morning in Sydney the court heard BKK would now formally withdraw from the dispute.

Both parties will pay their own court costs.

It comes a day after Mr Tinkler reached a settlement with ASX-listed Blackwood Corporation in which one of his private companies, Mulsanne Resources, will pay less than half the $28.4 million of the debts originating from a failed share placement.

Blackwood told the sharemarket on Tuesday that it would drop liquidation efforts against Mr Tinkler and other directors of his private company Mulsanne Resources if a payment of $12 million was made by June 30.

www.brisbanetimes.com.au/business/tinkler-resolves-claim-by-bkk-partners-20130605-2npf9.html#ixzz2VNflENXM


Another one down, should he manage to get his hands on that $12m for Blackwoods I think thats all the court cases settled.

MFKS
07-06-2013, 05:16 PM
ANGRY scenes have marred the Magic Millions horse sales on the Gold Coast on Friday after the auction house announced it would exercise its right to withdraw from sale another 13 horses from Nathan Tinkler’s Patinack Farm.


As the announcement was made, staff from Patinack Farm were scrambling to find transport to remove the 13 horses from the auction stables.

The sale, which had been described as a farce, dropped to a new low when Magic Millions managing director Vin Cox interrupted the auction to announce further withdrawals after 22 lots [horses] were removed by Patinack a day earlier.

“The vendor [Patinack Farm] was expecting more [money] than a fair market was prepared to pay,” Mr Cox said.

“As he was going to be bidding on these lots we decided to exercise our right to take them out to keep the integrity of the sale and protect buyers.”

Mr Tinkler has been active in the market buying back a number of yearlings at the sales, angering breeders and buyers, after completing a debt settlement with Blackwood Corporation.

As the announcement was made the call of “bullshit” came from the one of the biggest crowds seen at a horse sale in Australia.

“He [Tinkler] has every right to do what he has been doing under the rules of the auction but we thought this was the best course of action,” Mr Cox said. “So we withdrew the 13 horses he indicated he would be bidding on.”

Magic Millions indicated Patinack trainer John Thompson and Mr Tinkler’s father, Les, would continue to bid on Patinack’s behalf at the sale.

The withdrawals included Sydney winner Ferment and Metallurgical, which Mr Tinkler paid $2.2million for as a yearling.

Tinks cleaning house and taking back what is his:pissup:

plague
07-06-2013, 05:37 PM
"You come at the King, you best not miss".

Go get 'em Tinks.

Blackmac79
16-06-2013, 05:58 PM
Big posters up around parklea markets "not for sale, Con is back!"

Big man pulls through.

militiamon
16-06-2013, 06:40 PM
Will his wife please confirm this for us?


Edit: Seems legit:


Markets return to Con's control
Bridget Carter
From: The Australian
June 08, 2013 12:00AM

ONE-TIME owner of the Newcastle Jets soccer team Con Constantine has struck a refinancing deal with a lender, enabling him to regain control of Parklea Markets in Sydney's northwest after a marketing campaign on behalf of receivers failed to sell the property.

Among the groups eager to buy the markets were Frank Wolf's Abacus Property Group, which was likely to have been attracted to the property's development potential - given it could be worth several hundred million dollars, subject to a favourable rezoning.

The 22ha Parklea Markets at Sunnyholt Road in Glenwood was one of the most valuable assets in Mr Constantine's portfolio and has been earmarked for a mixed-used development, including a housing subdivision.

A concept plan was lodged for Parklea Markets before it was placed into receivership that included the development of a 12-storey hotel with 226 rooms and a convention centre.

Matthew Meynell, of Colliers International, had been marketing the property on behalf of insolvency firm PPB, with price expectations of more than $50 million.

Mr Constantine is believed to have had a loan on the property with Westpac Bank but managed to secure a financing deal with another lender.

Last week, Mr Meynell said Parklea Village was in the final stages of an expressions-of-interest campaign but would not comment further.

Almona, of which Mr Constantine is a director, owned the property but was placed into receivership in 2011.

In 2009, BRW magazine reported Mr Constantine was worth about $145m.

Originally from Cyprus, Mr Constantine built Parklea Markets on the site of a former drive-in cinema, initially operating it as a plant nursery.

He expanded his interests to Newcastle, where he bought the community papers Newcastle & Lake Macquarie Post and the Hunter Post from Fairfax Media.

Mr Constantine formed the Newcastle United soccer team in 2000, which was later renamed the Newcastle Jets.

Mining magnate Nathan Tinkler took over the licence of the Jets from Mr Constantine in 2010.

Mr Constantine could not be reached for comment.

http://www.theaustralian.com.au/business/property/markets-return-to-cons-control/story-fn9656lz-1226659514898

Hail Con!
Hail Tinks!

plague
17-06-2013, 11:57 AM
Great news.
Love Con.
Love Tinks.



(Middleby, not so much)

belchardo
19-06-2013, 11:15 AM
Nathan Tinkler has sold about half his stake in Whitehaven Coal to US investment firm Farallon Funds for about $300 million.

The former billionaire sold - through his Aston Resources Investments and Boardwalk Resources Investments - 101 million Whitehaven shares, or 9.91 per cent, to Farallon Funds.

The shares were sold at $2.96 each, according to a statement to the ASX this morning. That's a premium of nearly 40 per cent to yesterday's closing price of $2.11.

The shares jumped 9 per cent to $2.30 in early trade this morning.

Wilson HTM senior resources analyst Andrew Pedler said the sale was a good move for the company.

''I think Tinkler has been unstable presence on the register. Reducing his holdings in an orderly manner is important,'' Mr Pedler said. ''It will not affect the operations of the company whatsoever. It will affect people's perceptions of its value.''

Farallon said in a statement that it "believes the current market price of Whitehaven shares does not reflect the value of the company".

"The Farallon Funds now have a sizeable investment in Whitehaven, and Farallon looks forward to growth in shareholder value over time."

Farallon also agreed to buy another 1.63 per cent, subject to regulatory approval, the fund said. It already holds a 5.1 per cent stake in the company.

'Difficult' decision
The transaction means Mr Tinkler loses his place as the largest shareholder in Whitehaven, his last major listed investment. Closely held Tinkler Group held a 19.4 per cent stake in Whitehaven, according to an October statement.

Mr Tinkler said the decision to sell had been "difficult" but that the sale was in the best interests of all shareholders.

"While we are happy with the price we have received, being a 40 per cent premium to the current market price and a recent high for the company, we feel strongly that this still significantly undervalues the company's underlying asset base," he said in a statement (http://www.newcastlefootball.net/business/tinkler-on-stake-sale-20130619-2ohu2.html?rand=1371603397532).

Along with selling to Farallon, part of his stake had been sold to Noonday, a hedge fund, he said.

PhillipCapital’s senior resources analyst Lawrence Grech said the sale was an important first step, ‘‘but by no means the final step to the settlement of this perceived overhang from the Tinkler Group’’.

‘‘As Whitehaven’s operations become more efficient and they obtain permits to deliver an important development asset in Maules Creek, then we are going to see a lot more underlying interest in Whitehaven," Mr Grech said.

"That provides a lot more potential for an orderly selldown of Tinkler’s Group’s remaining parcel and more options for Farallon Group to hold or reduce to new portfolio or corporate investors seeking long-term growth in very good coal assets.’’

The move comes just 11 days before a deadline for Mr Tinkler to settle his debts with ASX listed Blackwood Corp. Earlier this month Mr Tinkler and Blackwood struck a deal to settle their dispute (http://www.newcastlefootball.net/business/tinkler-crafts-blackwood-deal-20130604-2no9u.html) if Mr Tinkler paid $12 million by June 30.

Blackwood said the payment could be made by any of the companies linked to Mr Tinkler, and any asset sales across Mr Tinkler's empire must be used to resolve the debts.

That means today's selldown of Whitehaven shares is likely to be used to pay down the Blackwood debt.

If Mr Tinkler fails to come up with the $12 million by June 30, a previous liquidation action will be resumed. The Blackwood liquidators applied on May 22 to freeze his assets, including the Whitehaven stake and a family trust managed by his wife.

Move to Singapore
The embattled coal magnate recently become the sole director (http://www.newcastlefootball.net/business/tinkler-calls-singapore-home-20130618-2ogsm.html) and shareholder of a new company in Singapore, Bentley Resources, and of its subsidiary Bentley Resources Administration.

The move, which took place in April according to Singapore company records, came less than two weeks after liquidators of his failed Australian company Mulsanne Resources said they were planning to take legal action against Mr Tinkler for insolvent trading.

Blackwood had forced Mulsanne into liquidation last year after Mulsanne failed to honour a deal to pay $28 million for a third of Blackwood.

Mr Tinkler, who was listed as Australia's richest person under 40 for several years running, and as recently as 2011, moved with his family to Singapore last year.

The 36-year-old electrician turned miner, who sold his house in 2006 to buy into a coal mine, made a $5.3 billion bid for Whitehaven last year, which collapsed in August as coal prices fell.

Mr Tinkler owed as much as $700 million to his backers including Farallon, Credit Suisse and Kuok Group and missed a $200 million payment in October, people familiar with the matter said in November.

Read more: http://www.smh.com.au/business/mining-and-resources/tinkler-sells-out-of-whitehaven-20130619-2ohnj.html#ixzz2WcWSUEhF (http://www.smh.com.au/business/mining-and-resources/tinkler-sells-out-of-whitehaven-20130619-2ohnj.html#ixzz2WcWSUEhF[QUOTE)

surely this must clear his debts fully now.

De-Champ
19-06-2013, 01:03 PM
No still has a heap of debt.

plague
19-06-2013, 02:18 PM
Tinks and Uncle Con lining their pockets.
Bazza O Fazza handing out the novelty cheques.
Newy is the new Dubai.

MFKS
20-06-2013, 12:02 AM
LENDERS have assumed control of Newcastle Knights owner Nathan Tinkler’s biggest asset, a 19.4 per cent stake in Gunnedah coal company Whitehaven, once valued at $1 billion.

Despite the impact this must surely have on the Tinkler Group’s other interests, his spokesman Tim Allerton stressed there was ‘‘no impact on the Newcastle Knights and the Newcastle Jets at all’’.

Mr Allerton said all the shares were in the process of being sold, if they hadn't already been sold.

Early Wednesday morning he was putting a positive spin on the sale, saying the shares were sold at 40 per cent above the market rate.

But due to Mr Tinkler's reported high levels of debt it is unclear how much, if any, of the money will stay with Mr Tinkler.

Hedge fund Farallon, which has bought most of the Tinkler stake, says the sale is only a ‘‘partial’’ settlement of the Tinkler group debt, meaning it may be after the former billionaire for more money.

In a series of statements issued to the stock exchange this morning it has emerged that the Tinkler Group no longer holds any of Whitehaven shares and his major baker hedge fund Farallon and its associates are now the single biggest shareholder in Whitehaven.

Whitehaven is developing the Maules Creek mine and has other operating mines in the Gunnedah Basin.

The shares were sold first thing Wednesday morning and the market responded positively with a 9 per cent price jump to $2.30 in early trade.

Whitehaven told the market that Farallon had bought 11.5 per cent of the Tinkler stake with the rest sold to ‘‘other members of the Tinkler lending syndicate".

"Whitehaven has a strong existing relationship with Farallon and we welcome its further investment in our business,” Whitehaven Coal Managing Director Mr Paul Flynn said.

“We look forward to continuing to deliver on our growth plans and to creating value for all of our shareholders,” he said.

When coal prices were high and Whitehaven shares were trading at $5 or $6 this was not such a burden but the collapse in coal prices has pushed coal stocks drastically lower to the point where Whitehaven has recently below $2.

The shares closed at $2.11 Tuesday, well below the $2.96 named as the price paid in the transaction.

In a letter published on the stock exchange this morning, lawyers acting for Farallon said it now held 16.62 per cent of Whitehaven, which compares with the 5 per cent it held before this transaction.

The transaction has a face value of $350 million but Farallon says it will only partly repay debt owed by the Tinkler Group.

While further clarification is needed, it appears that Farallon has taken control of 9.91 per cent of Tinkler Group’s Whitehaven stock and will buy another 1.63 per cent subject to Foreign Investment Review Board approval.

Such a transaction had been speculated as a likely solution to Mr Tinkler’s debt concerns but Farallon would also need to observe the ‘‘20 per cent law’’ - meaning it would need to make a full takeover bid for the company or have it approved by a full meeting of shareholders if it went above the 20 per cent limit.


A Tinkler Group statement said that while Mr Tinkler was happy with the price received, he still believed this price ‘‘significantly undervalues the company’s underlying asset base’’.

‘‘Many will be aware of the emotional attachment that Mr Tinkler has to the assets of the company, specifically Maules Creek, and that selling this stake was a difficult decision,’’ the statement said.

‘‘However we believe that no longer being a substantial shareholder of Whitehaven will benefit all existing shareholders.’’

The statement indicated Mr Tinkler and Farallon had parted company, by thanking them for their long term support of Aston Resources.


Ummm No impact on jets and knights???:wtf: What else does he own now???

My2BobsWorth
20-06-2013, 04:08 PM
http://www.brw.com.au/p/brw-lounge/five_reasons_nathan_tinkler_might_Hgwv94vNbiQDL7t2 HmP8LK

Still has a few, dunno what value. Big fella is a bit of an enigma. Still wondering what the Singapore move is about.

scozzygt
21-06-2013, 08:09 PM
http://www.brw.com.au/p/brw-lounge/five_reasons_nathan_tinkler_might_Hgwv94vNbiQDL7t2 HmP8LK

Still has a few, dunno what value. Big fella is a bit of an enigma. Still wondering what the Singapore move is about.

Well, its business as usual, Robbie told us, so that's ALL we need to know.
Me just love how they treat us, tha members. :angry:

Tinky? Singapore?
Tax, not hard to work out.

De-Champ
22-06-2013, 01:08 PM
Well, its business as usual, Robbie told us, so that's ALL we need to know.
Me just love how they treat us, tha members. :angry:

Tinky? Singapore?
Tax, not hard to work out.
He does not pay tax, according to his testimony in court he had next to nothing in income.

scozzygt
22-06-2013, 08:26 PM
He does not pay tax, according to his testimony in court he had next to nothing in income.

Hope he finds something soon, by tha look of him, he could do with a good feed.

Do you think he went there to get a cheap copy watch?

FFS,:banghead:

De-Champ
23-06-2013, 12:42 PM
Hope he finds something soon, by tha look of him, he could do with a good feed.

Do you think he went there to get a cheap copy watch?

FFS,:banghead:
He went there because that is where farrallon capital, has its main office.

militiamon
25-07-2013, 07:49 PM
So, Four Corners is doing a piece on Tinks next week?

Look forward to the puff piece, big marn deserves it. Hail Tinks!

Blackmac79
29-07-2013, 06:43 AM
Think the damn communists at the abc will turn what should e a celebration of our overlord into a vicious and vile attack.

belchardo
29-07-2013, 11:22 AM
Nathan Tinkler: Admired by some, disliked by many
Nathan Tinkler, the working class bloke who became a billionaire, would be admired if it was not for his behaviour along the way.

Clarendon lies on the Richmond railway line about 65 kilometres west of Sydney. It is a sleepy hamlet: home to not much apart from the Hawkesbury Race Club, a pub and a couple of horse studs.

On December 3 2010, the tranquillity of a summer evening at Clarendon was broken by an explosion and the sight of flames.

At a horse stud behind the race course, a large transporter used to move thoroughbreds was burning. Torched, it appears.

Police never found the culprit, though there would be no shortage of suspects; the horse float belonged to Patinack Farm, the racing empire of Mr Tinkler, Australia's youngest ever billionaire.

Mr Tinkler is the kind of man that most Australians would love to love - a big bloke of humble origins who loves football, fast cars and a punt.

An electrician from the coal mines of the Hunter Valley in New South Wales – a "pit leco" in the tradies' parlance – who ended up owning mining companies. A chap who backed his judgement, took risks, and made a fortune.

Instead, Mr Tinkler is perhaps one of the least trusted men in corporate Australia. Admired by some, disliked by many.
"You would need a psychiatrist to understand Nathan," a former senior executive at one of Mr Tinkler's businesses told Four Corners (http://www.abc.net.au/4corners/stories/2013/07/25/3810937.htm).

"Paranoid" is another word routinely used by insiders to describe the mining speculator, who also has a reputation for surrounding himself with good people then "falling out of love" with them.

Many employees of Mr Tinkler's enterprises have had the experience of being sacked and frogmarched out the door, sometimes by former elite soldiers of the SAS he uses for security.

Mr Tinkler can be coarse and abrasive. He is well known for sending expletive-laden emails and texts to business associates when unhappy.

One former employee Four Corners spoke to suggested to Mr Tinkler that they catch up for coffee.

Mr Tinkler texted back: "No thanks. Ur just another c*** that I give an opportunity to, wasn't up to it and dogged me everywhere so f*** off. I check the paper for your funeral notice you f**** deadbeat."

"F****** deadbeat" appears to be a favoured phrase.
Serial debt delinquent
In the rough and tumble world of Australian business, colourful language can be forgiven - even exalted. But welching on deals cannot.

What has most sullied Mr Tinkler's reputation is that he habitually treats debts not as an obligation but as something to be delayed or avoided.

Four Corners uncovered that, from his earliest days in business, Mr Tinkler was a serial debt delinquent.

In the mid-to-late 2000s, when he was fresh out of the mines and virtually unknown, at least five creditors gained court orders against Mr Tinkler for unpaid bills.

Those creditors included the Commonwealth Bank and the Coolmore horse stud, which had a stallion "service" one of Mr Tinkler's first horses, Subtle Miss.

Sometimes the amounts owed were trivial. Singleton Council had the repo men called in on Mr Tinkler over a $1,400 debt, presumably for unpaid rates, obtaining a Sheriff's Office order allowing the council to repossess the contents of his home.

Among the schedule of goods listed to be seized were "1 x Hoover dryer", "1 x Sideboard; wooden, 4 drawers" and "1 x 3 seater cream check Lounge", "1 x LG Golden Eye TV - approximately 58cm".

The contents of the garden shed were not spared either, with a seizure order for the lawnmower and the whipper-snipper.

All this pales compared to the crowning ignominy.
Tinkler defaulted on mortgage payments
Until now, few have known that in mid-2004, when he was 28, Mr Tinkler and his wife Rebecca lost their home.

The Tinklers had bought the house at Clydesdale Close in Singleton, New South Wales, in January 2003.

It was not long before they defaulted on the mortgage payments and, within 18 months, Members Equity, a large non-bank lender, foreclosed, gaining a court order on June 17.

he Tinklers were saved from the ultimate blow of eviction and allowed to offload the property in a forced sale in July. It fetched $420,000.

Their next known address was at Coolibah Street, Muswellbrook, the home of Mr Tinkler's father Les. It seems the young couple had to bunk down at the in-laws.

What is almost incredible is that just five years later, Mr Tinkler would be on the BRW Rich List, with a net worth of more than $400 million. It was rags-to-riches on steroids.
Four Corners can only surmise why Mr Tinkler was so cash-strapped he could not meet the mortgage repayments.

But it is worth nothing that, about the same time, he and business partner Matthew Higgins had set up their first venture, Custom Mining - a labour hire company that supplied skilled tradesmen to the mines.

It was the vehicle they later used to purchase Middlemount, an undervalued coal lease in Queensland's Bowen Basin, in a deal that would ultimately make Mr Tinkler rich beyond most peoples' imagination.

Was the entrepreneur not paying his bills while obsessively pulling together funds for his first business play? It's highly likely: Mr Tinkler would repeat the pattern time and again during his career, betting all on his next big gamble.

"Nathan, you're like someone who goes to the casino and puts everything on 34 Red," a business associate would later exclaim in frustration.

Mr Tinkler took it as a compliment, and started signing emails "34 Red". In the early years, it seems he bet the house - literally.
Rise to riches
The basic facts of Mr Tinkler's rise to riches are well known.

In 2006, Custom Mining scraped together a $1 million deposit for the under-valued Middlemount coal lease in Queensland's Bowen Basin, raised debt funding for the $30 million balance from backers and, late the following year, sold its 70 per cent stake to Macarthur Coal for $275 million.

Macarthur paid Mr Tinkler largely in scrip; with the coal price soaring to a record high and takeover speculation circling Macarthur, he sold his 10 per cent in 2009 for $442 million. Quite a payday.

What is less well known is just how quickly he burnt through the money.
Mr Tinkler's spending spree was monumental: luxury cars, jet planes, real estate and horses.

Mr Tinkler's Patinack Farm, named after his grandfather's stud in Ireland, outlaid more on bloodstock and stables in its first year than anyone in the industry had seen - an estimated $150 million.

By Mr Tinkler's own admission, Patinack cost $20 million a year to run.

At times, the cash splash by Patinack Farm became farcical. A former senior employee told Four Corners that at one thoroughbred auction, three different bidders were in attendance, all vying for the same horses under Mr Tinkler's instructions.

Patinack paid hundreds of thousands over the reserve on stock, with the last eight or nine bids for Mr Tinkler.

Part 1

belchardo
29-07-2013, 11:23 AM
Part 2




Millions lost in stock-trade gambles
Mr Tinkler's spending splurge began even before he had made his millions - using funds borrowed against the expectation of future riches.

In June 2007, Mr Tinkler paid $5.2 million cash for a mansion - purchased in his wife's name - on a sprawling estate at Pullenvale, outside of Brisbane.

His private company Merewether Investments bought Newcastle Knights Rugby League legend Andrew Johns' pad in Newcastle for $4.3 million and later, two other mansions at Merewether.

He was also punting on the stock exchange like a day trader, taking out huge margin loans to buy stakes in BHP-Billiton, Rio Tinto and a series of smaller mining companies.

There was no evidence of Mr Tinkler's famous luck and timing in his share-trading gamble.

He lost tens of millions as the global financial crisis hit and mining stocks were savaged. Former Tinkler Group insiders estimate his losses on BHP and Rio at between $70 million and $80 million.

The money churn was so enormous that when he made his second big coal play - just 18 months after his $440 million payday in late 2009 - Mr Tinkler barely had any cash to bring to the deal.

Through his company Aston Resources, Mr Tinkler agreed to buy the Maules Creek coal deposit in the Gunnedah basin from Rio Tinto for $480 million.

The deal would within a short space of time make Mr Tinkler a billionaire but the finance was a stretch and a struggle.

He had to pay a 5 per cent deposit - $24 million - within three months.

But Mr Tinkler could only bring $9 million in cash to the table. He borrowed the balance of the deposit from Ken Talbot, chairman of Macarthur Coal.

Mr Tinkler regarded Mr Talbot as a mentor. The men had similar, knockabout backgrounds, and Mr Talbot clearly had a soft spot for the budding young entrepreneur.

When Mr Talbot died in a plane crash in the Congo in June 2010, Mr Tinkler was distraught.

He spoke emotionally of Mr Talbot as "a great Australian who provided opportunity to people from all walks of life".

Yet the Talbot estate had to threaten to sue Mr Tinkler to get back the $15 million.

In the lead-up to the Maules Creek deal, the pattern of not paying creditors resurfaced.

"We were instructed to shut down payment," said a Patinack Farm insider - one of many who came and went from the venture known as "Pat 'n Sack".

"I was getting abused on the phone. I got assaulted at the races. People were furious at not getting their money."

Mr Tinkler acquired a controlling stake in the Newcastle-based developer Buildev and the construction company Bolkm, and former employees of those companies tell similar stories: wives of sub-contractors calling up in tears because of the lengthy delays in payment; creditors owed tens or hundreds of thousands for months, even years.

Veda Advantage, Australia's leading credit reference agency, has accorded Patinack Farm its lowest possible credit rating: 99.9 times worse than average. Bolkm has the same dubious distinction.

None of the former staff were willing to go on the record when approached for our Four Corners documentary.

Some are bound by confidentiality agreements which include non-disparagement clauses. Others just want to put the distressing episode behind them.

"We have moved on from very difficult times where people's integrity and morals were pushed to the limits," one former senior employee said. It is a refrain echoed by many.

Tim Curry, an electrician who installed powerlines on a horse stud owned by Patinack, says of Mr Tinkler: "He's a grub and he doesn't pay his bills."

It is an unenviable reputation.


http://www.abc.net.au/news/2013-07-29/nathan-tinkler-admired-by-some-disliked-by-many/4846818

think you could be right Blackmac.

q-money
29-07-2013, 11:27 AM
"No thanks. Ur just another c*** that I give an opportunity to, wasn't up to it and dogged me everywhere so f*** off. I check the paper for your funeral notice you f**** deadbeat."
sounds like some of the PMs you get on the local forum

pv4
29-07-2013, 12:14 PM
:lol: sounds like Scozz vs everyone tbh :rof: :wub:

q-money
29-07-2013, 12:16 PM
RIP scozz

plague
29-07-2013, 12:56 PM
Pffft.
Sif the big man gives a shit.
The ABC is for poor people and hippies (who are just poor people with no personal hygiene anyway).
Won't watch won't care.

Hail Tinks.

The Dunster
29-07-2013, 02:21 PM
The ABC has been on a downhill slide ever since Mr Squiggle left.

q-money
29-07-2013, 02:38 PM
these are hardly groundbreaking revelations from the cornerstone (heh) of current affairs reporting in 'straya

MFKS
29-07-2013, 03:20 PM
So these hack journos at the ABC have just run a summary of Tinks issues in the last few years.

Well done for digging up ****ing nothing and just regurgitating old news. How do these cocksuckers keep a job??


AS the great man himself would say ****ING DEADBEATS


Lets all get down on hands and knees and bow towards Singapore and say HAIL TINKS

MFKS
30-07-2013, 04:42 PM
http://www.abc.net.au/4corners/stories/2013/07/29/3810937.htm

Full episode of the shit last night in case you missed it.

****ING DISGRACE

My2BobsWorth
30-07-2013, 05:05 PM
They didn't get a word out of Tinks, typical leko.:grin:
Shoulda got Plague's mob to do it, with Tracy Grim up front

Grimario
30-07-2013, 05:11 PM
They didn't get a word out of Tinks, typical leko.:grin:
Shoulda got Plague's mob to do it, with Tracy Grim up front

Why are you calling me Tracy and why would I have an interest in this?

hawk
30-07-2013, 07:14 PM
all rich kvnts have a posse of debters chasing them, thats how they got rich in the 1st place. tinks had the guts to take it on

plague
30-07-2013, 10:19 PM
Shoulda got Plague's mob to do it, with Tracy Grim up front

Wot?
My mob?
Tracy Grim etc belong to free to air TV.
Free to air TV is also for poor people or old people.

David Speers or GTFO.

plague
30-07-2013, 10:22 PM
Having said that the in laws were over for dinner tonight (they are old people). They watched it and said Tinks was nasty to people and that no one liked him now.
I spat in their food and threw a wine bottle at them.

****ing ungrateful people.

Hail Tinks.

Jetmaster
30-07-2013, 10:33 PM
Free to air TV is also for poor people or old people.

And housewives..

GazFish35
30-07-2013, 11:34 PM
all rich kvnts have a posse of debters chasing them, thats how they got rich in the 1st place. tinks had the guts to take it on

Reminds of the joke...

Poor kid: my dads poor, he owes my uncle $5,000
Rich kid: my dads rich, he owes 5 banks $5million each


No one gets rich paying bills on time and only spending the money they actually have.

Pico
31-07-2013, 06:28 AM
Nathan Tinkler under investigation for allegedly betting on rugby league

NEWCASTLE Knights' high-profile owner Nathan Tinkler is under investigation by rugby league's integrity unit after allegedly breaking strict NRL rules by betting on his side during 2011.

The Daily Telegraph has been told the ex-billionaire - or the Newcastle club - could face severe punishment, ranging from a heavy fine to a suspended licence.

NRL rules strictly prohibit any club official betting on rugby league.

According to a claim made by Luxbet in the Northern Territory Supreme Court in January, Tinkler plunged $25,000 on Newcastle in a match against New Zealand Warriors at Mount Smart Stadium on August 13, 2011.

He acquired the Knights on March 31 the same year.

After leading early, Newcastle eventually lost that game 20-12, Tinkler blowing his cash.

Coach Wayne Bennett's future at the club would be in some jeopardy should Tinkler's licence be suspended. Bennett's deal is understood to be with Tinkler, not the Knights.

The NRL on Tuesday night confirmed Tinkler was now under investigation.

"It's a matter the integrity unit is making some inquiries into," NRL chief operating officer Jim Doyle said.

"The NRL rules prevent any official from betting on rugby league. That includes anyone with a financial interest in the club. At this stage it's too early to comment beyond that."

A Newcastle spokesman declined to comment Tuesday night.

There is some chance the NRL may seek Tinkler's punting records from betting agencies to determine if wagers have been placed.

One rival NRL official was shocked to hear about Tinkler's alleged bet on Newcastle.

"He knows the rules, everyone in the game knows the rules," he said.

"The code of conduct is black and white - no betting on the games. The NRL will have no choice but to come down hard on him."

Sources told The Daily Telegraph Tuesday night that the Newcastle club may in fact face a breach notice if rules have been broken, not Tinkler personally.

The Daily Telegraph reported Tuesday that Tinkler's failure to pay debts prompted Luxbet to sue him in the Northern Territory Supreme Court in January, chasing $179,200.

Court documents obtained by The Daily Telegraph reveal Tinkler, the embattled businessman, was outlaying up to $200,000 a bet on horse races during a three-year spree.

He found few winners.

In April this year, Bennett said Tinkler was committed to the Knights despite his owner offloading the Patinack Farm horse racing operation.



So they could take his license off him for betting on his own team?, if i remember correctly HSG is not owned by Tinks but by his family trust which is run by his wife, might get him out of jail on this one. Wonder what it would mean for HSG & the jets in particular if he was stripped of the knights license.

snake
31-07-2013, 07:29 AM
all rich kvnts have a posse of debters chasing them, thats how they got rich in the 1st place. tinks had the guts to take it on

you'd know, you rich **** :oops:

2 story house ffs

buy me a beer

GazFish35
31-07-2013, 07:34 AM
Why can't you bet on yourself to win?

Isn't that what you are trying to do anyway?

plague
31-07-2013, 10:31 AM
Pffffft, sif NRL would dare take El Saviours license away.
The only other blokes in Newy with coin (the 'peeples trust' mob from back in the day) got their money from corrupt Labor ministers giving away mining tenders.
(Although I doubt the lefties at ABC would go after them).

Hail Tinks in all His greatness.

**** the ABC.

MFKS
31-07-2013, 03:14 PM
Why can't you bet on yourself to win?

Isn't that what you are trying to do anyway?

I see where you are going with this but if you were betting on yourself to win there may be skeletons lurking in the closet with you enticing your rival to lose by offering them something on the sly!!!

Thats where the air of integrity/public perception issues come into play

q-money
31-07-2013, 03:25 PM
at least he's not doing drugs

My2BobsWorth
31-07-2013, 03:52 PM
Silliest thing he's ever done, putting 25K on the Knights. Only thing sillier than that would be 25K on the Jets

plague
31-07-2013, 04:10 PM
Silliest thing he's ever done, putting 25K on the Knights. Only thing sillier than that would be 25K on the Jets

Nope.
Silliest thing he ever did was employ Middleby. That bloke has dudded Tinks out of way more than $25k.

Middleby OUT.

plague
31-07-2013, 05:13 PM
Tinks cleared of any wrong doing.
Of course he was.


Hail Tinks.

Middleby OUT.

belchardo
18-09-2013, 03:04 PM
http://www.canberratimes.com.au/business/mining-and-resources/nathan-tinkler-dropped-from-brw-young-rich-list-20130918-2tyk1.html


Former billionaire Nathan Tinkler has been omitted from the latest edition of the BRW Young Rich List after his estimated net wealth fell below the $18 million cut-off set for 2013.

Down to his last few million. poor guy.

bit concerning for us, but it is clear why we can't pay out GVE's contract.

joel31
18-09-2013, 03:06 PM
http://www.canberratimes.com.au/business/mining-and-resources/nathan-tinkler-dropped-from-brw-young-rich-list-20130918-2tyk1.html



Down to his last few million. poor guy.

bit concerning for us, but it is clear why we can't pay out GVE's contract.
Soon he'll probably sell the club

sammydog
18-09-2013, 03:38 PM
I think the sale of the club will happen. The separation of the Jets and Knights admin made it clear that he was setting everything up to get rid of one or both the clubs.

Pico
19-09-2013, 09:42 AM
I think both will go, but the jets would be the one he'll try and off load first. I think he'll try and hold onto the Knights for as long as possible.

Are the jets & knights more attractive by themselves or as a combined HSG. Would not put it past Wests to make an approach for the knights, who knows they could even see HSG as a good way of getting both clubs.

Premy
19-09-2013, 09:48 AM
I for one don't want a leagues club owning our club

Disinterested Bystander
19-09-2013, 10:11 AM
I for one don't want a leagues club owning our club

I'd take a leagues club owned club over no club at all and those are probably the only two options when the last of the fat man's funny money runs out. Wests would take the Knights in a heartbeat (even though it would be a money pit) and my guess is they'd probably take on the Jets as well as a sop to the community. I doubt it would cost them any extra to take over both licences as opposed to just the Knights and it would be a good gesture of goodwill towards the community that they so thoughtfully 'support' with the pocket change they make from their one or two pokies hidden away in the corner of a room.

curious_fan
19-09-2013, 10:31 AM
I for one don't want a leagues club owning our club

Have there been any figures made public by The Jets or HSG about the financial position of the club over the last few seasons? Excluding say Heskey's contract are the requiring continual finances from Tinkler? Are they even close to being at break even point?

furious_can
19-09-2013, 10:52 AM
have there been any figures made public by the jets or hsg about the financial position of the club over the last few seasons? Excluding say heskey's contract are the requiring continual finances from tinkler? Are they even close to being at break even point?

This is a terrible post.

:banghead::argument::soapbox::banghead:

furns
19-09-2013, 11:01 AM
Have there been any figures made public by The Jets or HSG about the financial position of the club over the last few seasons? Excluding say Heskey's contract are the requiring continual finances from Tinkler? Are they even close to being at break even point?In short - no
As the Jets were not owned by a membership database or have any of the protections that the Knights have now before they sold the club to HSG they are not required to.

GazFish35
19-09-2013, 12:09 PM
So is time to start whipping round the hat?

Or investing in paddlesteamers?

Pico
19-09-2013, 01:00 PM
Has to be taken with a grain of salt considering the source is Troy Palmer. BUt its the best indication anyone is likely to get.




Tinkler’s Knights set for strong financial finish

John Stensholt

With the club set for an NRL finals appearance this weekend, the financial result for Nathan Tinkler’s Newcastle Knights this season will be the best since the former billionaire became owner in 2011.

Troy Palmer, chief executive of *Tinkler’s Hunter Sports Group (HSG), the entity that owns the Knights and A-League football club the Newcastle Jets, says the rugby league team is in a healthy position on and off the field.

“The Knights were a bit of a basket case when we took them over. They were always in the bottom of the competition for most indicators, such as revenue, merchandise and sponsorship. But now, we are in the top three or four in the NRL for those categories.”

Turnover for the club will exceed $20 million in 2013. However, Palmer admits the Knights will still lose at least $2 million this year, a sum he says will be covered by Tinkler, who has had well-publicised financial issues.

“We’ve still got a bit of work to do in that regard, but it is the same for most NRL clubs at the moment,” Palmer says. “I think in the next two to three years, we will definitely be profitable.

“At the moment, there is still that gap and we’ve done a lot of upfront *spending since Nathan became owner. But we will see the benefit of that over the next few years and we will close that gap *significantly.”

Palmer confirmed the $10.3 million bank guarantee the Knights still have in place from Tinkler, as per the terms of his takeover of the club, will remain untouched and not be used to cover any annual losses.

The Australian Securities Exchange-listed Brisbane Broncos, South Sydney Rabbitohs and the North Queensland Cowboys are considered to be on the only clubs in the competition to be *profitable, although Manly will be close to breaking even this year.

Palmer says the Knights have about $10 million in annual sponsorship income, and companies such as NIB, Sportsbet, Aurizon and Hunter Ports, which is owned by *Tinkler, will continue to sponsor the club past 2014.
Long way to go

Even more importantly, the Knights officially launched its new training and administration facility last week, paid for by Wests Group Australia under a long-term sponsorship deal with the licensed club *organisation.

“The facilities we have at our centre of excellence are now as good as any club in the country,” Palmer says.

[B]He says HSG is also working to convince sponsors to back both the Knights and the Jets. “We think it works well and they can reach different markets that way. Football appeals more to the youth market in particular.”

He says the Jets are on target to attract at least 10,000 members for the 2013-14 A-League season, which begins in October.

The league will be in its first season of a four-year $160 million broadcast *contract with SBS and Fox Sports Australia, with the former meaning the sport will have its first free-to-air presence since the old National Soccer League was disbanded in 2004.

However, Palmer says the Jets will still lose more than $1 million in the coming season and the financial *equation for the private owners of A-League clubs remains difficult.

“There’s still a lot of issues for the clubs and we still battle. What I think you will see is that it’s the next TV deal after this one that will see the clubs in a better position, so we have to hang on until then,” he says.

“The deal starting this season means clubs are probably $500,000 better off each. But we lost $20 million combined last season, so that only really brings the total losses back to $15 million. So it’s still a long way to go.”

www.afr.com/p/lifestyle/sport/tinkler_knights_set_for_strong_financial_gzEdKDsW2 9bAgZd0Q7c0DK

snake
19-09-2013, 02:23 PM
This is a terrible post.

:banghead::argument::soapbox::banghead:

:rof:

militiamon
19-09-2013, 08:05 PM
This is a terrible post.

:banghead::argument::soapbox::banghead:

lol!

Premy
25-02-2014, 10:11 PM
Dear FFA
Find us a new owner Farking!!!
I'm sure it's not just me, I'm sick of this bloke and his constant mediocrity. He has absolute no passion for the Club and never has, maybe that's why our players lack it.

Tinkler out!!!
New Tifo next home game.

sammydog
25-02-2014, 11:15 PM
For all his faults, at least Con loved the game and the club.

Biggest mistake FFA ever made was not taking the licence back when Tinkler/HSG tried to hand it in. has tinkled ever even been to a game?

I'd like the club (HSG) come out and tell us their strategic direction for the club, where we are headed and how we are getting there.

q-money
25-02-2014, 11:29 PM
probably going to get there by doing a few laps

MFKS
25-02-2014, 11:55 PM
For all his faults, at least Con loved the game and the club.

Biggest mistake FFA ever made was not taking the licence back when Tinkler/HSG tried to hand it in. has tinkled ever even been to a game?

I'd like the club (HSG) come out and tell us their strategic direction for the club, where we are headed and how we are getting there.

Didn't you get the promotional pack in the mail??

Highlights of it are:
We are going for the spoon.

We plan on achieving it by having these elements mastered

Lose Games Regularly
Poor coaching
Heartless Players
Weak Administration
Play poor boring football


Looks like we are on track to meet the KPI's:roflz:

Jetmaster
26-02-2014, 08:05 AM
Dear FFA
Find us a new owner Farking!!!
I'm sure it's not just me, I'm sick of this bloke and his constant mediocrity. He has absolute no passion for the Club and never has, maybe that's why our players lack it.

Tinkler out!!!
New Tifo next home game.

Funny thing is, I reckon if a huge banner like Sydney's saying Tinkler out would do the trick. Tinks is a bit of a sook and he would pull the pin immediately.

Problem is we would not a have a club.

380
26-02-2014, 09:19 AM
Also next years membership stickers have been signed off on and ready to go to print.

" IN DEFEAT AND IN DEFEAT WE STAND TOGETHER "

Grimario
26-02-2014, 10:09 AM
IN DRAWS AND DEFEAT WE STAND TOGETHER

or

GUTLESS AND GOALLESS. BOARD AND PLAYERS UNITED. **** YOU LOT!

GazFish35
26-02-2014, 10:15 AM
After the unbeaten season arsenal released some shirts.... You win some, you draw some.


Maybe we can run a line of merchandise along than theme.

We lose some, we draw some. Newy!

Grimario
26-02-2014, 10:17 AM
Piles of coal and goals. Newcastle. It's what we ship

militiamon
26-02-2014, 10:27 AM
Still agree with what quotient said a while back, including "defeat" and implying you might lose in your tagline was retarded.

Grimario
26-02-2014, 10:33 AM
Yep. Not just that, it's basically saying "if you are a fair weather fan, you are a ****wit. Don't support us". We need all the fair weather fans we can get. Horrible horrible tagline.

stopper2
27-02-2014, 09:04 PM
Didn't take Tinkler long to shaft both Culina's after he thought that they had "ripped" him off with his money. I am surprised that Tinkler has not stepped in and tried to tear up Heskey's contract after the injuries and lack of goals this season from our marquee player on big money

MFKS
28-02-2014, 08:21 AM
Whats of more concern is the money our Club is losing thanks to the administration of it.

I am surprised the decision makers haven't been ****ed off for their roles in putting us in the state we are currently in

Jetmaster
28-02-2014, 09:37 AM
The whole problem now is not the players, or the coaching staff....it is the culture of the club that has changed and disengaged everybody. This season feels ridiculously flat.

Honestly you could put the entire Roar side here next season with Mulvey as coach and I bet we wouldn't make the six.

MFKS
28-02-2014, 09:51 AM
The whole problem now is not the players, or the coaching staff....it is the culture of the club that has changed and disengaged everybody. This season feels ridiculously flat.

Honestly you could put the entire Roar side here next season with Mulvey as coach and I bet we wouldn't make the six.


We would be really behind the eight ball if that was to happen.

The new blokes in Brisbane might be able to ACTUALLY play and there will go our guaranteed nine points a season we get from them

GazFish35
28-02-2014, 09:52 AM
Who is excited about going to the movies!

The club is doing everything right!

Movies! Brilliant.

**** winning matches, playing with pride etc etc.


Picnics at blackbutt reserve next!

Pico
28-02-2014, 09:22 PM
NBN reporting tonight that the big fella has been in town this week meeting with the knights and jets with rumours it may be about funding arrangements for the clubs who knows really But FFA might have to be on the look out for a new owner/s as we speak.

sammydog
28-02-2014, 09:28 PM
Whats of more concern is the money our Club is losing thanks to the administration of it.

I am surprised the decision makers haven't been ****ed off for their roles in putting us in the state we are currently in

The decision makers are HSG/Palmer. Don't kid yourself that anyone else is making the calls.

belchardo
18-03-2014, 03:35 PM
The Newcastle Knights have played down a delay in monthly payments to a number of players as ‘‘not a huge issue’’.

Sources close to players contacted the Newcastle Herald on Tuesday to say some players were not paid on Monday or Tuesday, but have been told they will be paid on Wednesday.

The Newcastle Herald has been told Hunter Sports Group employees on monthly contracts, including Knights players in the NRL and Jets players in the A-League, are usually paid on the 15th of every month.

When the 15th falls on a weekend, as was the case last Saturday, the usual procedure is for payments to then be processed on the first business day after that date.

There have also been occasions when those payments can be processed on the Friday before a weekend when the 15th falls on a Saturday or Sunday.

A Knights spokesman said: ‘‘Everything has been processed and it’s all been sorted. It’s not a huge issue from our end.’’

The Newcastle Herald understands a number of Jets players were not paid on Monday but were paid on Tuesday.

The development comes in the wake of revelations by the Newcastle Herald that Knights owner Nathan Tinkler has until the end of the month to renew the $10.3 million bank guarantee underpinning the privatisation agreement his HSG management company signed with the Knights Members Club in August 2011.

The Knights dealt with a similar issue in October 2012 but dismissed it as a ‘‘clerical error’’.

Read more: http://www.smh.com.au/rugby-league/league-news/newcastle-knights-and-jets-players-not-paid-on-time-20140318-hvk3x.html#ixzz2wHm0tLPW


anybody else got a feeling we've been through all this before?

joel31
18-03-2014, 03:56 PM
we'll have new owners by the start of next season

MFKS
18-03-2014, 04:05 PM
anybody else got a feeling we've been through all this before?

FFS Blokes got paid a ****ing day late as payday fell on a ****ing weekend. Big deal.

Company I work for pays us a day late if payday falls on a public holiday.


What's the problem??

Tinks money or the players of both his clubs being paid ain't the issue. Both clubs are being run pretty ****ing poorly really considering what Tinks is putting in and what returns he is ACTUALLY getting from them.

FFS We are shit on the park and the Dog Fornicaters are 0 from 2 from all reports

Grimario
18-03-2014, 04:07 PM
FFS Blokes got paid a ****ing day late as payday fell on a ****ing weekend. Big deal.

Company I work for pays us a day late if payday falls on a public holiday.


Did you miss the bit where it isn't a day late, it's now two days late and they are hopeful it will only be three days late?

Also, if you have a mortgage that comes out on a specific day, if you aren't paid when it comes out, how ****ed are you? Not all of us are as effluent as you, Member!

MFKS
18-03-2014, 04:13 PM
Did you miss the bit where it isn't a day late, it's now two days late and they are hopeful it will only be three days late?

Also, if you have a mortgage that comes out on a specific day, if you aren't paid when it comes out, how ****ed are you? Not all of us are as effluent as you, Member!

In light of the shitful performance from our blokes Saturday night I am all for with holding their pay. Maybe they might think twice about disgracing us like that again.

Actually Tinks should threaten them that they only get paid when they win

May see some inspired performances from the pricks

plague
18-03-2014, 04:26 PM
Not all of us are as effluent as you, Member!

If intentional: Brilliant.

Jeterpool
18-03-2014, 04:39 PM
If intentional: Brilliant.

Was thinking the same thing.

Re: ownership, you know I wouldn't be against someone like Wests Leagues Club looking to own the Jets. The club is run as a business and I think they would do well. However, would they have the resources to do so? I don't know. We certainly wouldn't be in the league for marquees as well.

I get the feeling as joel31 said that we are going to have new owners next year too.

plague
18-03-2014, 04:51 PM
WSW sale is due to be finalised by June 30.
Maybe we can take up that empty space in the bosom of the FFA til we can convince Con and Remo to come back and save us.

q-money
18-03-2014, 04:53 PM
inb4 community ownership lol

can you imagine how much more of a cluster**** the jerks would become if the lunatics* controlled the asylum

*no offence to da lunatics

Grimario
18-03-2014, 04:55 PM
If intentional: Brilliant.

:cool:

Sad that the member didn't pick up on it.

plague
18-03-2014, 05:00 PM
:cool:

Sad that the member didn't pick up on it.

I dare say even the good Member himself can't argue with such a statement.

plague
18-03-2014, 05:02 PM
inb4 community ownership lol

can you imagine how much more of a cluster**** the jerks would become if the lunatics* controlled the asylum

*no offence to da lunatics

Dibs on the GM role.
Also: I'll only turn up one day a week so John Q Public cant tell the difference in effort levels currently being displayed.

Premy
18-03-2014, 05:04 PM
*no offence to da lunatics
Haha Fark don't put us in control you wouldn't get the players out of the Brewery the night before games, they might play with some farking pride in the shirt but.

Premy
18-03-2014, 05:08 PM
Grim for Manager.
The bloke is a football genius have you seen what his archived in FM14

Skirt Boy
18-03-2014, 05:12 PM
Company I work for pays us a day late if payday falls on a public holiday.


Do you get to charge the company interest for late payment? Try that trick anywhere else and you pay a penalty fee.

FFS we used to threaten strike action if our pay was going to be late.

Grimario
18-03-2014, 05:12 PM
Pffft. I am a pissant now.

Blackmac79
18-03-2014, 05:14 PM
Do you get to charge the company interest for late payment? Try that trick anywhere else and you pay a penalty fee.

FFS we used to threaten strike action if our pay was going to be late.

It's why they pay nurses early, not late.

plague
18-03-2014, 05:23 PM
Do you get to charge the company interest for late payment? Try that trick anywhere else and you pay a penalty fee.

FFS we used to threaten strike action if our pay was going to be late.

Just schedule yer direct debits a week after your pay is due so you aren't sweating on it being in exactly on time.
Geez, not rocket science.

pv4
18-03-2014, 05:38 PM
Always wondered how companies dealt with weekends, public holidays, etc.

Our company usually lets us know a week or two in advance that they'll either pay us early or late, and encourage everyone to come see them if it would be a hassle. But obviously not everywhere is as on top of it as that.

Fwiw I have my direct debits going out a few days after pay day, just in case.

hawk
18-03-2014, 05:52 PM
both teams should donate last weeks wages anyway

howardyou
18-03-2014, 08:47 PM
If we were to gain EPL owners like the Heart now have, as if Newcastle United FC wouldn't a perfect match for us. Imagine Joe "F**king" Kinnear as Head Coach. The circus would remain!

When asked why Newcastle players got a day off on his first day in the job
“It is none of your f**king business. What the f**k are you going to do? You ain’t got the balls to be a f**king manager. F**king day off. Do I want your opinion? Do I have to listen to you?”

furns
18-03-2014, 08:49 PM
Mike Ashley would never buy into the Jerks, there is no way for him to pull millions out of the club without having to put anything in.

boz-monaut
18-03-2014, 09:45 PM
if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up

can't see the problem really

joel31
18-03-2014, 09:46 PM
if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up

can't see the problem really
FFA renewed our license to 2035. we aren't folding

Thomas477
18-03-2014, 09:51 PM
FFA renewed our license to 2035. we aren't folding

Lulz, how long was the Knights, Fury or Gold Coast's licenses for?

joel31
18-03-2014, 10:01 PM
Lulz, how long was the Knights, Fury or Gold Coast's licenses for?
not that long

pv4
19-03-2014, 06:28 AM
Lulz, how long was the Knights, Fury or Gold Coast's licenses for?

Not sure

Every team bar Wellington have been extended till ages away. Wellingtons expires next year or the year after - can't remember what they were waiting on

Pico
19-03-2014, 07:11 AM
FFA renewed our license to 2035. we aren't folding

You do realise that the license is just the right to be able to play in the league. It’s no guarantee that a team WILL be in the league. Further at the time that the licenses were extended it was mentioned that certain performance measures were maintained that allow the FFA to retract a membership, it was one of the reasons that the owners were said to be unhappy as the new extended license still offered no security that your right to compete could just be taken away by the FFA. It’s also said to be a very long list of things which varies greatly from consecutive wooden spoon seasons, failing to pay players, any breaches of the club licensing agreements & low crowd figures. This is why Palmer dropped his lawsuit against the FFA, they have that many get out of gaol free cards in the license agreement he stood no chance of winning. If the extended license helps you sleep at night that’s great but its not helping the owners sleep at night.

Realistically the FFA could just put our license up for sale, another consortium like the proposed Auckland City or that recent Cairns resort and casino that’s backed by Chinese billionaires who are willing to build a 25k seat stadium with their resort and who are already sponsoring the cairns NPL team could fast track their plans should a license become available. Then you have the usual suspects of Wollongong, Townsville & South Melbourne who always like to stick their hands up whenever there is talk about future a-league expansion

GazFish35
19-03-2014, 07:44 AM
Not sure

Every team bar Wellington have been extended till ages away. Wellingtons expires next year or the year after - can't remember what they were waiting on

Approval from AFC to have an Oceania based side in an AFC comp

Premy
19-03-2014, 07:51 AM
FFA need Newcastle just as much as Newcastle need FFA, they won't let us fold it would be a PR disaster.

BodyNovo
19-03-2014, 08:39 AM
OPINION: Jets may mean more to Tinkler than Knights
IT is almost two years since that dramatic day when Nathan Tinkler tried to hand back his ownership licence of the Newcastle Jets.

At the time, Tinkler felt ripped off.


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He had been asked to step in and save the Jets when Con Constantine experienced financial hardship, and he agreed to bankroll the endangered club as a gesture of community goodwill.

Eighteen months down the track, the self-made tycoon was over it.

Issues such as the Jason Culina controversy and acquisition fees had soured his attitude towards Football Federation Australia.

Moreover, by this point he had also assumed control of the Newcastle Knights, and after horse racing, his first love was always rugby league.

So Tinkler dumped the Jets in the too-hard basket and walked away.

He ordered his right-hand man, Troy Palmer, to call a press conference and announce the divorce, perhaps underestimating the furore that would unfold.

A few weeks later, after threats of legal action and eventually a face-to-face meeting with FFA chairman Frank Lowy, Tinkler relented, agreeing to honour his commitments.

Two years on, how the landscape has changed.

Tinkler’s pockets are apparently no longer as deep as they once were and, ironically, it now seems the Jets, not the Knights, may be his more valuable commodity.

Tinkler’s Hunter Sports Group has insisted a problematic $10.3million bank guarantee will be in place by March 31, ensuring his tenure at the Knights continues for at least another 10 months.

It would not be the first time HSG officials have ridden out such a situation, insisting that it was a storm in a teacup.

Regardless of whether HSG can meet next week’s deadline, comments in yesterday’s Herald from Wests Group chief executive Philip Gardner suggest some of those involved are at least wondering if Tinkler will hold on to the club.

And this is where the Jets, rather than the Knights, may yet offer some return for the millions Tinkler has poured into Newcastle’s sporting franchises.

For Tinkler, the Knights will always be a financial liability.

Even in the event they did turn a profit, under the terms and conditions of privatisation, that money would be reinvested in the club.

As for on-selling to some other well heeled masochist, a clause entitling Knights members to buy the club back for $1 renders it basically worthless to Tinkler.

The Jets, on the other hand, are potentially an asset that is growing by the day.

Tinkler may live overseas, but presumably he will have noted with interest that Melbourne Heart were sold recently for $11.25million to Manchester City, and an Australia-based consortium is about to fork out a similar amount for Western Sydney before the end of June.

Even taking into account possible transfer fees for Adam Taggart, Mark Birighitti and Josh Brillante, it is unlikely the Jets would be worth as much as either the Heart or Wanderers, both of whom are based in capital cities with far greater commercial opportunities.

But with 10,000 members, a new stadium deal, a strong junior nursery and the chance of playing in the Asian Champions League, the Jets will surely have appeal on a global market.

And given that Tinkler made his fortune by buying cheap and selling at a profit, it is hard to imagine the thought of doing likewise with the Jets would not have crossed his mind, even if that means biding his time.


solid points whether they mean anything to tinkler i don't know;

most important points to potential owners and FFA though

10k members, stadium deal, strong juniors and the potential profit of young players.

pv4
19-03-2014, 08:50 AM
chance of playing in the Asian Champions League

:rof: