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Thread: Insert Name Here aka The Ownership Thread

  1. #21
    Senior Member howardyou's Avatar
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    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.

  2. #22
    infant member plague's Avatar
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    Quote Originally Posted by boz-monaut View Post

    Tinkler pays up


    Tinkler launches $4bn bid for Whitehaven Coal


    Mirvac takes Tinkler to court on Steel River deal


    Tinkler moves to Singapore


    Tinkler's horse sale bid


    Court orders Tinkler company to pay up on Steel River land
    more range than Robert DeNiro.
    Is there anything the great man can't do?

  3. #23
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    Quote Originally Posted by boz-monaut View Post
    Mirvac takes Tinkler to court on Steel River deal
    Looks like Chief Harragon ate way too many pies in this one

  4. #24
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    Mirvac's bid to seize Tinkler assets
    By IAN KIRKWOOD
    Sept. 7, 2012, 1:17 p.m.




    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.
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    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.

    http://www.theherald.com.au/story/30...assets/?cs=303
    This is going to send the herald into melt down!

  5. #25
    brutally rapes small, cute dogs parksey's Avatar
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    onya tinks

  6. #26
    Senior Member seldom's Avatar
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    good luck on the paper trail mirvac
    I hope he likes prison food.......and penis

  7. #27
    Senior Member Grunta's Avatar
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    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.

  8. #28
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    Fat fuxxin knights FOOTEE.

  9. #29
    in awe of baz GazFish35's Avatar
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    Huh?

  10. #30
    Senior Member Hamma12's Avatar
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    Quote Originally Posted by scozzygt View Post
    Fat fuxxin knights FOOTEE.


    Mad Monday syndrome ?

  11. #31
    brutally rapes small, cute dogs parksey's Avatar
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    run at me

  12. #32
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    Business in a new port but sponsorship stays
    By DONNA PAGE and NEIL GOFFET
    Sept. 13, 2012, 10:41 p.m.



    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.

    http://www.theherald.com.au/story/33...-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.

  13. #33
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    http://www.foxsports.com.au/league/n...-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

  14. #34
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    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

  15. #35
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    Quote Originally Posted by MFKS View Post
    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.

  16. #36
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    Not being critical but me thinks the man maybe asset rich and cash flow tight at the minute. Not uncommon at all.

  17. #37
    in awe of baz GazFish35's Avatar
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    Tinks should buy 'the post'

  18. #38
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    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

  19. #39
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    Quote Originally Posted by MFKS View Post
    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.

  20. #40
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    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.

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