Should this be a concern for Knight's fans?

[Silent Knight]

fair enough. jimmies shall be rustled, i guess. carry on.

Ssssshhhhhhh. No tears. Only dreams now.

 

[The Joker]

Coal baron Nathan Tinkler’s private company Mulsanne Resources is in liquidation after failing this morning to come up with $28.4 million owed to listed coal junior Blackwood Corporation.

The NSW Supreme Court appointed Ferrier Hodgson as liquidators, after settlement negotiations which had been going on for the past fortnight, failed.

Mulsanne, a shelf company of which Mr Tinkler is a director, earlier this year agreed to take up 95 million shares in a placement at 30 cents a share - then a 50 per cent premium to the prevailing share price to fund Blackwood's exploration campaign.

The share placement would have meant an about 34 per cent stake in Blackwood for Mr Tinkler.

Blackwood shares slumped 4 cents, or 22 per cent, to 14 cents after the liquidation was announced this morning.

Mr Tinkler has faced a series of legal actions against various of his private companies but has managed to settle each time at the last minute, and avoid liquidation.

But Mulsanne did not come up with the money it owed Blackwood today and if a liquidator finds it has not had enough assets to cover the Blackwood liability, Mr Tinkler could be charged with insolvent trading.

http://m.theage.com.au/business/tinklers-mulsanne-in-liquidation-over-debt-case-20121120-29n14.html

 

[The Joker]

Given that these liquidators are going to try and find enough assets to cover the Blackwood debt, the chances of the Knights being sold either back to the club itself or another private buyer just got real.

 

[Chicken_Hunter]

Thanks for paying out all our debts and for the bank guarantee Nathan.

 

[Silent Knight]

Andrew Poole come on down. You're the next contestant on the Knights are right.

 

[The Joker]

Actually reading further into it, he's come out saying that the liquidation of Mulsanne won't affect his other companies such as Hunter Sports Group, but unless Mulsanne has enough assets to sell to cover the debt, the money will have to come from somewhere which could mean selling other assets in his other companies to cover the gap. Either way, it doesn't look good for Tinky

 

[Chicken_Hunter]

Andrew Poole come on down. You're the next contestant on the Knights are right.

Any idea on how much Poole is worth? I know he is rich and all, but is e rich enough to support the knights without some other investors?

The only info I could find was he sold some shares in nucoal for $7.8m and he sits on the board for a few companies and owns an accountant business.

Would we go back to the patrons trust model? Would the main players still be interested?

 

[cram]

I guess the question is whether this have the potnetial to derail the season before it even begins.

The rumours will start on the potential impact that this may have and whether they are based in fact or not can the players knuckle down to the job in hand without concentrating on the off field issues?

 

[RABK]

Im concerned.

 

[cram]

Im concerned.

Now I am enven more concerned....:lol:

Being someone who tends to excessively worry about things on football matters I allow this place to be my barometer but if your concerned well thats it for me a long off season....:lol:

 

[The Showstopper]

The silence from Palmer tells me this is getting very serious very fast. The players will be anxious now. Why wouldn't you be when your employer is going broke.

 

[Frederick]

 

[Alex28]

I'm more concerned about Fred's iPhone battery. Get to a charger champ!

His lawyers and accountants would be smart enough to make sure this company sits alone from the rest of his assets so nothing else is impacted. If there was any chance of that, he would have stumped up for the shares.

 

[Frederick]

I'm more concerned about Fred's iPhone battery. Get to a charger champ!

That 3% lasted until it went on charge an hour later haha

 

[The Showstopper]

And just like that HSG issue a statement putting our fears to rest............. Will take a bit more than this to reassure all of us i think. It is a start.

 

[Rexxy]

Poor old Richard Fisk. This must sooooo remind him of his Estate Mortgage days.


http://www.mortgageapplications.com.au/news/1990/5/16/estate-mortgage-faces-cac-inquiry/

http://www.illawarramercury.com.au/story/359266/spanner-in-the-works/

 

[Ronnie Dobbs]

Tinkler and Palmer couldn't lie straight in bed.

The sky IS falling for Tinkler. If he's broke, he's of no use to the Knights.

Has anyone seen the bank statement with a 2 followed by 7 0's on it? I assume Tew, doing what he did (thank f**k for that hey), would have seen this before she was handed over to Tinks?

Anyway, worst case scenario, you're debt free, with cash in the bank, the master coach and a capable roster, right?

 

[cram]

The sky is falling

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

 

[cram]

Anyway, worst case scenario, you're debt free, with cash in the bank, the master coach and a capable roster, right?

That's what we hope.

 

[Silent Knight]

One, two
The creditors are coming for you
Three, four
Fly to Singapore
Five, six
Tinkler's in a fix
Seven, eight
Palmer can't lie in bed straight
Nine, ten
We get our club back again.