Could this affect Snowy's contract??

[Quigs]

Tinkler edges closer to brink over $17m deal


http://www.theage.com.au/business/tinkler-edges-closer-to-brink-over-17m-deal-20120903-25agm.html

COAL baron Nathan Tinkler yesterday edged closer to the brink of financial disaster after failing to comply with a court order to pay Mirvac about $17 million to settle a property deal.

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Coal prices have slumped since the merger, putting pressure on Mr Tinkler, who is known to have substantial debts secured against his stake in Whitehaven and other assets, including his horseracing stud, Patinack Farm.

The full extent of Mr Tinkler's debts has not been confirmed but corporate filings indicate his maximum liability may be as high as $638 million, although his spokesman said the true figure was ''a mere fraction'' of that amount.

 

[carcharias]

That would be funny
But shit for the knights fans.

 

[Stinkler]

They'd better hope the $10mil "guarantee" that they were promised is in their bank account, otherwise it will never be seen!

 

[Rod]

That guarantee is from the bank, not Tinkler. And it's $20m.

 

[Ausguy]

A bank guarantees 20M ? Interesting.

 

[Quigs]

A bank guarantees 20M ? Interesting.

As Pauline Hanson once said .... "Please explain?"

.

 

[tom of poland]

Is Tinkler the supposive underwriter ? I'd be worried if I was a Newcastle employee or fan.

 

[Ausguy]

I can't quigs. I don't get it. A bank giving.... ???

 

[Quigs]

The Tinks has moved house to Singapore or somewhere recently, hasn't he?

 

[carinashark]

Sorry Snowy, house full at the Sharks. But seriously I wonder how much of that contract money he will see?

 

[Stinkler]

The bank has guaranteed $20mil? Which bank?!?
So if Tinks fails on the Knights, the bank give the club $20mil? And then the bank own the club? Or do they then have to chase down Tinks for the coin?

It's true that Tinks lives in Singapore now.
Far away from his non-bill-paying businesses.

 

[tom of poland]

I also read recently that Tinks bought a place on Maui for $12 million.

 

[Quigs]

I also read recently that Tinks bought a place on Maui for $12 million.

Hmmmmmmmmmmmmm

 

[Quigs]

Interesting reading over in the Knights forum.

 

[Stinkler]

Some seem worried, some are like "we'll be right", some have no idea!

 

[DJShaksta]

It's Cuthbo I tell ya - he is eating them out of house n home

 

[Vin Fizz]

Interesting reading over in the Knights forum.

Yeah. I just had a good read. The poor fans are in for some rough times until its sorted. Feel for em a bit after our years of uncertainy. Wonder if the media will hop on that and start calling for a relocation if shits are trumps like they did us. Fecken rsoles...

 

[jc155776]

That guarantee is from the bank, not Tinkler. And it's $20m.

Hahaha.

Simple rod thinks a bank guarantee is actually from a bank.

 

[Ausguy]

That was my point. A bank?!

 

[gunnamatta bay]

Wonder if Wayne is worried?