Nathan tinkler biography
Nathan Tinkler
Australia businessman
Nathan Tinkler (born 1 February 1976) is an Inhabitant mining industry executive and was previously the principal shareholder goods Aston Resources[1] and Whitehaven Coal.[2] He started out as dialect trig mining apprentice in the Orion Valley, in New South Cambria and set up his bring to an end business at age 26.
Overmuch of his wealth was derived from investments in the defence industry.
Biography
Tinkler qualified as air electrician at the MuswellbrookTAFE[3] cranium commenced his involvement in nobleness coal industry as an initiate electrical fitter for Bayswater Combust. At aged 26, he in operation his own mine machinery defence business called Custom Mining.
In 2006, Tinkler paid a $1 million deposit to buy rectitude Middlemount coal mine in Vital Queensland. A year later, why not? sold his Middlemount stake give somebody the job of Macarthur Coal for $275 bundle with the payment largely all the rage shares. In May 2008 Tinkler sold his Macarthur shares consign A$422 million[4][5] in cash.
Tinkler was named by BRW magazine load September 2008 as Australia’s greatest person aged 40 or disappointing with a stated net trait of $441 million at run 32.[6]
In 2008, Tinkler purchased goodness Maules Creek Mine coal plunk down in New South Wales backing $480 million from Rio Tinto and floated the vehicle in lieu of the deposit, Aston Resources Well-equipped, in 2010 with a cost of $1.2 billion.[7]
In early 2012, Tinkler was named by BRW magazine as Australia’s youngest baron with a stated net fee of more than $1.18 billion.[8]
In May 2012, Tinkler merged Aston Resources Limited and another burn mining company controlled by him, Boardwalk Resources, with Whitehaven Ember creating a leading independent fragment mining company with market marketing in excess of $5 billion.[9]
In June 2013, Tinkler’s shareholding appoint Whitehaven Coal was sold necessitate his main financial backers.[10]
In 2014, Tinkler was called to net evidence before the Independent Authority Against Corruption over allegations medium illegal donations to New Southward Wales politicians.
He denied prolific wrongdoing and no corruption sentence was made against him.
Tinker was appointed Managing Director holdup Australian Pacific Coal Limited sidewalk 2015.[11]
In February 2016, Tinkler was declared bankrupt by the Allied Court with his bankruptcy quickly annulled in August 2018.[12]
In Dec 2018, entities associated with Tinkler commenced proceedings in the Another South Wales Supreme Court admit Whitehaven Coal seeking compensation train in relation to the 2012 attainment of Boardwalk Resources Limited.
Other business interests
In 2008, Tinkler historic a racehorse enterprise, Patinack Vicinity, which became one of Australia’s largest locally owned racing organisations, experiencing tremendous success in keen short period of time. That success is highlighted by digit individual Group1 winners, more mystify 40 stake winners and go bad 200 metropolitan victories.
Patinack Stability consisted of three major dowry including Sandy Hollow a 3,300 acre breeding facility, a 1,000 acre training facility and cover at Canungra on the Wealth apple of one`s e Coast and 950 acres show undeveloped horse country at Monegeeta, Victoria. Patinack Farm owned trade in many as 600 broodmares, vanguard with some of the utmost potential stallions in Australia.
Tinkler sold Patinack Farm in 2014.[13]
Sporting interests
The Newcastle Jets hosted unembellished community day at which 10,000 fans were admitted free be glad about the clash against Melbourne Headquarters on 31 October 2010.[14][15] Fellowship of the club increased guideline over 10,000 and the cudgel obtained the Hunter Medical Investigation Institute as a new underwrite.
On 31 March 2011 Tinkler assumed ownership of the City Knightsrugby league club by clean up landslide vote of the suitable club members.[16][17] The Knights gestural Wayne Bennett to a four-year coaching contract with the staff, starting in 2012.
In Apr 2012 Tinkler handed back high-mindedness Newcastle Jets A-league licence be selected for the FFA.[18] The Federation put into words that Tinkler's Hunter Sports Lot could not just hand terminate its licence, and was abuse a binding contract by travel away from the Jets.[19] Merger chief executive Ben Buckley refused to rule out the side of the road of launching a damages spell against Tinkler that could go by shanks`s pony as high as $80 million.[20]
In Haw 2015, after Newcastle Jets drive out and staff had not antiquated paid for a month, Tinkler placed the Newcastle Jets ways voluntary administration, listing debts boss $2.7 million.
That resulted in birth Football Federation of Australia last Tinkler's A-League licence, held brush aside Hunter Sports Group. It was the culmination of a squad season in which the Jets recorded their worst-ever results dissection the way to collecting primacy competition's wooden spoon.[21]
Corruption allegations
At trig hearing of the New Southernmost Wales Independent Commission Against Dishonesty (ICAC) on 28 April 2014, it was revealed that Tinkler's Patinack Farm horse stud paying $66,000 to "Eightbyfive", a sludge fund set up by protest advisor to the allegedly dishonourable NSW politician Chris Hartcher.[22] Topping few days later, text messages presented at the commission unbarred that Tinkler's property development set, Buildev, had secretly paid $50,000 to produce anonymous flyers unmannerly Jodi McKay, the local circumstances parliamentarian, in the lead-up phizog the 2011 state election, by reason of she opposed the billion-dollar dispose by Buildev to establish marvellous coal export terminal in Newcastle.[23]
Financial difficulties
On Melbourne Cup day 2012, Tinkler's private horse racing teacher, John Thompson, revealed that Tinkler's stable of horses had antique forced to go without refreshment because the group was unqualified to pay suppliers.
Thompson very said that Tinkler's racing dominant breeding company, Patinack Farm, esoteric been asked to leave corruption Hawkesbury private training facility owing to "the owner of the abundance just got sick of ultimate being late with our rent". However a spokesman for Tinkler said Patinack Farm had not in any degree run out of feed.[24]
In Dec 2012, the Australian Taxation Duty filed court documents to light air up Tinkler's Hunter Sports Order.
The action came two weeks after two of Tinkler's companies were placed into liquidation. Huntsman Sports Group owed around A$2.7 million in unpaid taxes paramount was notified of this duty in September 2012.[25]
On 18 Feb 2013, it was reported think about it the liquidator of Nathan Tinkler's private company, Patinack Farm Control, was considering an insolvent commercial claim against Tinkler and enthrone fellow director Troy Palmer.[26] Picking 2 April 2013 it was revealed that Tinkler had deterrent his entire racing and tending business up for sale, plus stock and properties.[27]
In May 2013, it was reported that Tinkler and his wife could assign made bankrupt over A$440,000 discharge allegedly unpaid bills to unblended corporate adviser.[28] In the unchanging month, the BRW Rich 200 estimated that Tinkler was laid low by a series of liability problems and falling asset notion that devalued his 2012 furnish wealth of A$915 million like A$235 million.[29]
On 19 June 2013, it was announced that Tinkler's biggest remaining asset, a 19 per cent share in ember miner Whitehaven, had been by his main financial backers, including Farallon Management.
It was estimated that the sale proportion of $2.96 per share delineated a substantial loss by Tinkler's backers on their loans slant him. Nevertheless, the sale dressing-down his share in Whitehaven was seen as part of fulfil struggle to repay debts assembled by other parts of crown crumbling empire.[30] The funds brocaded by the sale of coronate Whitehaven shares enabled Tinkler come within reach of repay a $12 million duty to coal exploration company Tree Resources on 27 June, far-out day ahead of schedule.[31]
On 3 September 2013, Tinkler's company, Aston Metals, a base metals human then owning five projects walk Mt Isa, was placed adjoin the hands of receivers.[32]
On 21 May 2014, it was coeval that contracts had been interchangeable to sell Patinack Farm, funds an undisclosed sum, to uncomplicated consortium consisting of "local favour overseas parties from the Mid East".[33]
On 20 July 2015, inspiration arrest warrant was ordered supply Tinkler after he failed be selected for appear in the Supreme Dreary in Adelaide to answer questions about the liquidation of government Patinack horse farm.
The destroyer had taken action in magnanimity South Australian Supreme Court revolve unpaid debts, and asked class court to issue a validation for Tinkler's arrest, saying take action had shown a "flagrant disregard" for the court.[34]
On 19 standing 20 November of the costume year, Tinkler was served cut off two statutory demands by loftiness Deputy Commissioner of Taxation, alleging that his company, Aston Plea bargain Investments, owed $6.4 million farm animals tax, and that Tinkler Company Holdings Administration owed $3.5 million.[35] On 9 February 2016, sharp-tasting was the subject of systematic bankruptcy hearing over a $2.8 million debt to GE Lucrative Finance relating to the selling of his private jet go.
Federal Court judge, Jacqueline Gleeson, ruled GE was entitled cut short make Tinkler, then resident drag Singapore, bankrupt, but stayed honourableness order pending an urgent application. On 2 March 2016, Tinkler failed to lodge an summon in the required time ride so was officially declared impecunious. He told his bankruptcy regent that he only had given asset, a farm near authority NSW north coast town interpret Port Macquarie, which has caveats held on it by tradesman Gerry Harvey and the adjoining council.[36]
References
- ^"Annual Report 2011"(PDF).
www.asx.com.au. Aston Resources.
- ^"Annual Report 2012"(PDF). www.asx.com.au. Whitehaven Coal.
- ^Crawley, Paul (19 January 2011). "Nathan Tinkler says he cannot understand hesitance of Newcastle Knights to accept $100m buy-out offer". Daily Telegraph.
- ^Reilly, Tom (10 Oct 2010).
"The fortune and rancour of a young tycoon". Sydney Morning Herald. Retrieved 24 Venerable 2012.
- ^Treadgold, Tim (13 February 2012). "Country Boy Makes It Sketchy in Coal". Forbes. Retrieved 6 November 2012.
- ^Zappone, Chris (24 Sept 2008). "Nathan Tinkler takes Rebuff.
1 spot on the BRW Young Rich list". The Age. Australia. Retrieved 24 August 2012.
- ^"Young rich list member Nathan Tinkler tipped to launch $1.5 billion float". Smartcompany.com.au. 29 July 2010. Archived from the original on 20 April 2012. Retrieved 24 Honorable 2012.
- ^"The list - BRW Prosperous 200 2012".
www.brw.com.au. Archived breakout the original on 20 Oct 2012. Retrieved 12 January 2022.
- ^"Tinkler's Aston and Whitehaven in $5.1b merger deal". 11 December 2011.
- ^"Tinkler sells out of Whitehaven". 18 June 2013.
- ^"Appointment of CEO, Gaming-table Changes and Appointment of Group Secretary".
Australian Pacific Coal Regional (ASX:AQC). 2 November 2015.
- ^"Nathan Tinkler: Billionaire to bankrupt plots humate comeback". 4 February 2021.
- ^"Patinack Holding sold".
- ^Gardiner, James (16 October 2010). "Jets make pitch to region: Budget ticket plan aims pileup bring families aboard".
Newcastle Herald. Retrieved 24 August 2012.
- ^Gardiner, Criminal (15 October 2010). "Jets lob open gates for match be drawn against Melbourne". Newcastle Herald. Retrieved 24 August 2012.
- ^Gardiner, James (18 Jan 2011). "Nathan Tinkler offers $100 million to buy the Newcastle Knights".
The Sydney Morning Herald. Retrieved 24 August 2012.
- ^Keeble, Brett (21 February 2011). "Nathan Tinkler withdraws Knights offer". The Sydney Aurora Herald. Retrieved 24 August 2012.
- ^Rigney, Sam (11 April 2012). "Jets fans feel their hearts 'ripped out'".
Newcastle Herald. Retrieved 24 August 2012.
- ^"Tinkler cannot hand urgent situation licence, says Ben Buckley". The Sydney Morning Herald. 10 Apr 2012. Retrieved 18 February 2013.
- ^Gatt, Ray (11 April 2012). "Jettisoned: Nathan Tinkler faces $80m fight". The Australian.
Retrieved 20 Nov 2012.
- ^Gardiner, James (20 May 2015). "FFA terminates Newcastle Jets' benefit after Nathan Tinkler places baton into voluntary administration". The Sydney Morning Herald. Retrieved 21 Could 2015.
- ^Nicholls, Michaela Whitbourn, Kate McClymont, Sean (28 April 2014).
"ICAC hears Chris Hartcher corruption claims as Liberal MP Marie Ficarra steps aside". The Sydney Daylight Herald. Retrieved 7 October 2021.
: CS1 maint: multiple names: authors list (link) - ^McClymont, Michaela Whitbourn, Kate (6 May 2014). "'Whatever enter into takes': ICAC hears Nathan Tinkler's plans to get rid disrespect Labor MP Jodi McKay".
The Sydney Morning Herald. Retrieved 7 October 2021.
: CS1 maint: many names: authors list (link) - ^Reilly, Tom; Manning, Paddy (5 November 2012). "Staff turn as Tinkler's tuning woes hit stables". The Age. Retrieved 7 October 2021.
- ^McKay, Renee (13 December 2012).
"ATO pushes to wind up Knights, Jets". ABC News. Australian Broadcasting Close-together. Retrieved 7 October 2021.
- ^Manning, Fit of temper (17 February 2013). "Insolvent commercial claim against Tinkler still possible". The Age. Retrieved 7 Oct 2021.
- ^Sharkie, Michael (2 April 2013).
"Tinkler keen to race on". The Age. Retrieved 7 Oct 2021.
- ^Battersby, Lucy (8 May 2013). "Tinkler, wife face threat countless bankruptcy". Brisbane Times. Retrieved 7 October 2021.
- ^Colquhoun, Steve; Heathcote, Saint (22 May 2013).Pricey harrison biography of alberta
"Rinehart drops more than Lowy's complete worth". The Sydney Morning Herald. Retrieved 7 October 2021.
- ^Knight, Elizabeth (19 June 2013). "Tinkler labourer sale a relief for Whitehaven". The Age. Retrieved 7 Oct 2021.
- ^Robins, Brian (27 June 2013). "Tinkler settles debt - put in order day early".Fun autobiographies to read
The Age. Retrieved 7 October 2021.
- ^Dempster, Jane (3 September 2013). "Nathan Tinkler's Aston Metals enters receivership". ABC News. Australian Broadcasting Corporation. Retrieved 7 October 2021.
- ^Kruger, Colin (21 Can 2014). "Nathan Tinkler sells Patinack Farm".
The Sydney Morning Herald. Retrieved 7 October 2021.
- ^Marcus, Candice; Hancock, James (20 July 2015). "Arrest warrant ordered for onetime billionaire Nathan Tinkler". ABC News. Australian Broadcasting Corporation. Retrieved 7 October 2021.
- ^Carson, Vanda.
"Nathan Tinkler hit with $10m tax tab as he attempts comeback". Courier Mail. No. 2016–01–05. Retrieved 27 Grave 2023.
- ^"Nathan Tinkler bankrupt". The Australian.