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Thread: Insert Name Here aka The Ownership Thread

  1. #61
    Senior Member MFKS's Avatar
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    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
    Quote Originally Posted by plague View Post

    Double-eff-aye should introduce a 3rd division and dump these ice addict welfare living scumbags straight there. dont even let them get their stink anywhere near 2nd division.

  2. #62
    Senior Member MFKS's Avatar
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    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
    Quote Originally Posted by plague View Post

    Double-eff-aye should introduce a 3rd division and dump these ice addict welfare living scumbags straight there. dont even let them get their stink anywhere near 2nd division.

  3. #63
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    Quote Originally Posted by MFKS View Post
    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?

  4. #64
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    http://www.theaustralian.com.au/news...-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.

  5. #65
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    conspiracy imo

  6. #66
    infant member plague's Avatar
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    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.

  7. #67
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    Quote Originally Posted by MFKS View Post
    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.

  8. #68
    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/n...#ixzz2EhqT27z5

  9. #69
    "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.

  10. #70
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    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.
    Last edited by hauss; 11-12-2012 at 03:52 PM.

  11. #71
    Senior Member Thomas477's Avatar
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    Quote Originally Posted by hauss View Post
    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.
    Middleby Gone

    Lawrie Out

  12. #72
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    he gets happier and fatter in chronological order

  13. #73
    Senior Member MFKS's Avatar
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    Quote Originally Posted by hauss View Post
    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
    Quote Originally Posted by plague View Post

    Double-eff-aye should introduce a 3rd division and dump these ice addict welfare living scumbags straight there. dont even let them get their stink anywhere near 2nd division.

  14. #74
    Senior Member BodyNovo's Avatar
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    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.
    Quote Originally Posted by militiamon View Post
    Body gets Stretch drunk, miracle occurs.

    Hail Body!

  15. #75
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    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.

  16. #76
    infant member plague's Avatar
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    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.

  17. #77
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    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.

    http://www.theherald.com.au/story/11...ts-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.

  18. #78
    Senior Member namwob99's Avatar
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    Beer price to go up again?

  19. #79
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    Quote Originally Posted by Pico View Post
    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?

  20. #80
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    Quote Originally Posted by belchardo View Post
    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.

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