Nathan Tinkler relinquishes ownership of the Newcastle Knights

[carcharias]

That pic is the day they voted him in.

Kinda like when Springfield voted for the monorail.

 

[Hutty1986]

That pic is the day they voted him in.

Kinda like when Springfield voted for the monorail.

Is there a chance the Knights could end?

Not on your life, my chubby friend!

 

[Slackboy72]

Could eat a few horses

Sorry, the horses (if there were any left) are now safe.
Patinack went into administration this morning.

http://www.smh.com.au/business/another-tinkler-firm-bites-the-dust-20121121-29pax.html

 

[kmav23]

http://www.smh.com.au/national/receivers-move-to-clip-tinklers-wings-20121204-2atc1.html

THE high-flying former billionaire Nathan Tinkler has been grounded, with receivers taking possession of his private jet and helicopter.

As speculation continues to mount over Mr Tinkler's financial future, the Sydney receiver Taylor Woodings confirmed the troubled entrepreneur had left the private jet set, with his Dassault Falcon 900C impounded in Singapore and his Agusta A109S helicopter in Brisbane.

Mr Tinkler, who an insider said ''loved the jet like a child'' and ''used the helicopter like a taxi'', refused to comment on Tuesday.


Illustration: Rocco Fazzari
Taylor Woodings was appointed by the creditor GE Commercial Australasia on November 23 as receivers of TGHA Aviation.

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It is believed the jet and helicopter, valued at up to $40 million and $7 million respectively, were the only secured assets of the company that had no staff.

Earlier this year Mr Tinkler was reported to have been traversing the globe in his jet, which is fitted out with Italian leather seats, a bar and a conference room, in a frantic bid to secure finance to save his crumbling business empire.

He has been under severe financial pressure. He was recently reported to be at risk of losing control of his primary asset, a stake in Whitehaven Coal, if he failed to meet a ''liquidity event''.

The jet, registration VH-LUL, is French made, can seat up to 19 people and is the same model used by the Russian President, Vladimir Putin, and the government of Qatar.

The helicopter, with registration VH-TNX, seats up to seven people and is used by the Royal Oman Police.

Mr Tinkler and his right-hand man, the Hunter Sports Group chief executive, Troy Palmer, are the directors of TGHA Aviation.

A Taylor Woodings partner, Nathan Landrey, said the aircraft had not been valued.

''We are in the process of doing an initial review of the business and its assets,'' Mr Landrey said. ''We are in discussions with the company … the [aircraft] is secured and will remain in the possession of Taylor Woodings.''

Two of Mr Tinkler's companies, Patinack Farm Administration and Mulsanne Resources, are in liquidation. Two others, Tinkler Group Holdings Administration and Queen St Capital, also face wind-up applications.

The Deputy Commissioner of Taxation has been given until December 10 to replace the NSW Chief Commissioner of State Revenue as petitioning creditor against Tinkler Group Holdings.

Lawyers lodged an application in the Queensland Supreme Court last month to wind up Queen St Capital. The matter will return to court on December 12.

 

[I Bleed Maroon]

Ahhh, Tinklerbell; hiding some tax skeletons in the closet are we? Wouldn't surprise me. Another opportunistic billionaire prick rorting the nation where they made their money.

 

[Fire]

 

[WayneBennett]

Lol

 

[afinalsin666]

Wasn't part of Bennett's contract use of said jet? Interesting...

 

[Parra Pride]

A kmav thread that isn't bashing Cronulla? Now I've seen everything.

 

[woodyk2]

Looking like a financial basket case.How does Benny get home now?

 

[_snafu_]

I'm surprised that the fat f**k doesnt need at least a 747 to get off the ground.

 

[Led_Halen]

What did the elephant say to the naked man?
How do you breath through that thing?

 

[Chicken_Hunter]

I doubt Bennett has even used that jet since he has been at the knights.

 

[Bulldog Force]

Oh Newcastle. Hindsight is such a marvelous thing ain't it?

 

[Loudstrat]

When are they going to repossess Wayne Bennett?

 

[AlwaysGreen]

Ring gids.

 

[betcats]

I heard on the Radio last night that big Tinkle has a private Jet in Singapore thats been taken by creditors as well as a helicopter in Brissy.

Things are coming unravelled for the big guy.

I asked someones whos opinion I respect about him and he started telling me about Tinks financial troubles but he lost me pretty quickly.

He simplified by saying: Tinklers isnt a businessman, he is a punter. He bet right the first time and made bucketloads, but apparently now he is starting to bet wrong. Interesting to see if he can recover.

 

[Sans Souci Sainter]

That chopper would have some hard flying hours on the clock.

Would definatly need some new rotors after lifting Big Tinky off the ground.

But seriously, can we have Uncle Wayne back now.

 

[betcats]

Oh well apparently this won't effect the Knights financially(if Tinkler goes bankrupt), but having a billionaire to wine and dine potential signings(players and coaches) is a big advantage over most clubs. I mean, it scored them Bennet.

If he wasnt struggling so much I think Tinkler could of done big things with the Knights, they already have all the natural footballing resources they need.

 

[WayneBennett]

When are they going to repossess Wayne Bennett?

Not much resale value