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Nathan Tinkler relinquishes ownership of the Newcastle Knights

kmav23

Juniors
Messages
2,014
Tinkler owes as much as $700 million to lenders including Farallon Capital Partners, Credit Suisse Group AG and Kuok Group, three people familiar with the matter told Bloomberg News last month. His creditors may seek to take control of his stake in Whitehaven Coal Ltd. (WHC), worth about A$703 million ($742 million) at the current share price, if he fails to make payments on a loan, said the people, who asked not to be identified as the details are private.


http://www.businessweek.com/news/2012-12-13/australia-tax-office-steps-up-pressure-on-tinkler

 
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kmav23

Juniors
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2,014
No one is giving him any more credit as his highly geared !!!

how do you think he made so much money in a short time... !!!

If the share price falls ..he will be finished....as the creditors are calling in their loans...and it will all collapse

His got his exit strategy overseas..... knights are his toys like boats, horses and planes.
 

9701

First Grade
Messages
5,400
We are sorry, the article you requested is no longer available. Is what your link gives.
 

kmav23

Juniors
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2,014
We are sorry, the article you requested is no longer available. Is what your link gives.

fixed

so essentially... any small fall in share price has massive impact on him as creditors are not going to give him any more credit...

so any day it can collapse as the Fund mangers will call in their debt...

so knights should watch the share price

very unstable to have a club run and owned like this...

http://www.businessweek.com/news/2012-12-13/australia-tax-office-steps-up-pressure-on-tinkler
 
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Fire

First Grade
Messages
9,669
ill give you the translation as i work in finance...

His living on the edge....he has no margin of error at the moment...

f**k off Kmav lol. Collecting dole cheques isn't "working in finance" old mate lol
 

kmav23

Juniors
Messages
2,014
"As much as" why weren't they worried enough to take this asset when share price was $2.80?

lets see could it be the fact,,,

his been chased by massive amounts of creditors..for unpaid debts

. has lost all reputation and confidence....

ATO, tradies, small business, large businesses....mirvac...

not paying super...etc...
 
Messages
17,035
fixed

so essentially... any small fall in share price has massive impact on him as creditors are not going to give him any more credit...

so any day it can collapse as the Fund mangers will call in their debt...

so knights should watch the share price

very unstable to have a club run and owned like this...

http://www.businessweek.com/news/2012-12-13/australia-tax-office-steps-up-pressure-on-tinkler


to suggest that Whitehaven Coal is on the verge of collapse just shows how out of touch you really are. Anyone in the know, knows that WHC is a very oversold company and is valued between $4.50-$7 a share by a lot of investment firms.
 

Loudstrat

Coach
Messages
15,224
How so? If Tinkler was genuinely in strife would he not have just cut his losses with the knights and jets? Instead he comes out and says he is here for the long haul.. Obviously tinkler has enough to keep the knights as the richest club in the comp.
Either:

  • Chicken Hunter is right - meaning he is the only mining tycoon who doesnt know how to pay bills, or
  • Chicken Hunter is wrong - meaning the Knights better get a standby management team together really quick.
Im glad that Knights fans have seen what Tinkler has done for their club beyond opening the chequebook for Bennett, Boyd and Snowdon. I havent seen much, but Im not a Knights supporter so I cant really debate that point.


That said, if we were bought by a tycoon, and our home ground was suing us for unpaid rent, I'd be fuming. I bet the Knights always paid the rent in the past - even during the Energy Australia days when they were upset at the impact of construction on ticket sales.


If we were bought by a tycoon, and the ATO were trying to wind us up because said tycoon hadnt paid tax, I'd be fuming. Id also be very worried, because the ATO has a habit of chasing people beyond the grave, and are one of the court systems best customers.


If we were bought by a tycoon, who was so renown for not paying anyone on time, and even was late with his initial payment to the club, I'd be worried, because if he wanted the club so much he wouldnt default on everything to the deposit, all other agreed payments, rent on the ground, or anything else.


If we were bought by a tycoon, who suddenly left the country, sold off all his high profile assets and had everything else repossessed, and Singapore Airlines bought a new fleet of Airbusses just to cope for the swarm of debt collectors and summons servers coming over from Australia, I'd be worried, because I have never seen what happens when an NRL club gets repossessed. Imagine if Rupert Murdoch called in some massive loan and wound up owning my club? We'd either end up like the Western Reds, or worse, Melbourne!


I like the Knights. They are a great club that is integral to the health and success of RL in Australia. But f*ck me, some of their fans need to work out whether they are indeed Knights fans, or Tinkler fans. The position that fat turd has put our great club in is unforgivable, and the sooner you f*ck him off, the better.
 

Cletus

First Grade
Messages
7,171
to suggest that Whitehaven Coal is on the verge of collapse just shows how out of touch you really are. Anyone in the know, knows that WHC is a very oversold company and is valued between $4.50-$7 a share by a lot of investment firms.

And you think he isn't paying interest in his loans?? How is he going to service his debts when he's relying on dividends from WHC? He's far too leveraged and doesn't have the cash to service his debts so he's f**ked.
 
Messages
3,000
lets see could it be the fact,,,

his been chased by massive amounts of creditors..for unpaid debts

. has lost all reputation and confidence....

ATO, tradies, small business, large businesses....mirvac...

not paying super...etc...

These random sentences have not answered the question. Did you actually read my post before replying
 

kmav23

Juniors
Messages
2,014
to suggest that Whitehaven Coal is on the verge of collapse just shows how out of touch you really are. Anyone in the know, knows that WHC is a very oversold company and is valued between $4.50-$7 a share by a lot of investment firms.

can you read and use your common sense ....

the collapse is fattys empire you Imbecile

when your debt is more then the share is worth there is usually a margin call....and all the creditors are panicking... now

they have asked for 200 million payment... when fatty cant pay tradies
 
Messages
17,035
And you think he isn't paying interest in his loans?? How is he going to service his debts when he's relying on dividends from WHC? He's far too leveraged and doesn't have the cash to service his debts so he's f**ked.


I dont know what he is doing, no one does, except the media...

I know one thing, the banks are not going to force Tinkler to sell his 19.7% stake in WHC at $3 because the banks he has loans with also hold a large stake in WHC.
 
Messages
17,035
can you read and use your common sense ....

the collapse is fattys empire you Imbecile

when your debt is more then the share is worth there is usually a margin call....and all the creditors are panicking... now

they have asked for 200 million payment... when fatty cant pay tradies

I can..

This is how you worded it,


'so essentially... any small fall in share price has massive impact on him as creditors are not going to give him any more credit...

so any day it can collapse as the Fund mangers will call in their debt...'

It looked like the word 'it' was referring to WHC.
 

Fire

First Grade
Messages
9,669
so what do you think of him not paying his debts. while living the high life..?

To be honest, I don't really care about Tinks. He's not the first man not to pay his bills and live the high life.

Strictly talking big picture - the NRL has pretty much assured the Knights won't fold (as they should), so all the other small details about the "situation" at the moment is just white noise to me.
 

kmav23

Juniors
Messages
2,014
Whats the point in having a private owner when he cant pay his debts.... being chased by the ATO, companies and businesses..
 
Messages
17,035
can you read and use your common sense ....

the collapse is fattys empire you Imbecile

when your debt is more then the share is worth there is usually a margin call....and all the creditors are panicking... now

they have asked for 200 million payment... when fatty cant pay tradies


As I said, the companies he owes money too also hold large stakes in WHC, so any major offloading of his shares will have a large effect on their stake. They aren't going to force the sale of his WHC shares.
 
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