Coal baron Nathan Tinkler.
TWO private companies owned by coal baron Nathan Tinkler have settled two claims totalling $342,359 by the New South Wales Chief Commissioner of State Revenue. But they still face possible wind-up proceedings from creditors including the Tax Office, WorkCover, law firm Gilbert & Tobin and security company Internet Fraud Watchdog, despite a spokesman for Mr Tinkler insisting all the matters had been settled.
Mr Tinkler's thoroughbred stud, Patinack Farm, owed the NSW government $259,866 while his main private company, Tinkler Group Holdings, owed $82,493.
The Chief Commissioner of State Revenue petitioned for a wind-up of both entities and although those debts have been settled, other interested parties can apply to substitute as petitioning creditor.
In the NSW Supreme Court on Monday, Gilbert and Tobin and Internet Fraud Security were given until November 19 to apply. Gilbert and Tobin would not comment but is believed to be owed about $345,000.
Newcastle-based Turnbull Hill partner John Woodward, acting for Internet Fraud, owed about $145,000, said his client did intend to apply for a wind-up and was not interested in a payment plan being offered. ''We will wind them up if we're not paid in full, at once,'' he told BusinessDay.
A directions hearing in liquidation proceedings against Patinack Farm was stood over until this morning. According to one source, the Deputy Commissioner of Taxation is owed ''millions''. The amount owed to NSW WorkCover is unknown.
Mr Tinkler's Mulsanne Resources will return to the NSW Supreme Court tomorrow over a $28.4 million debt owed for a share placement to listed coal junior Blackwood Corporation.
Mr Tinkler, whose financial situation has been the subject of intense speculation, has been progressively settling legal disputes over the past month.
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