Reprieve for Tinkler in share deal

THE NSW Supreme Court has agreed to give entrepreneur Nathan Tinkler and Queensland coal explorer Blackwood Corporation yet more time to sort out a $28.4million debt.

Blackwood is suing Mr Tinkler’s private group, Mulsanne Resources, and seeking to appoint liquidators following a failed share placement in July.

Senior Deputy Registrar Jennifer Hedge adjourned the matter yesterday until November 20, but warned she expected it would then be ready to proceed to a hearing or the parties would have settled the dispute.

Lawyers for Blackwood sought the adjournment,  and told the court yesterday that discussions were ongoing.

Blackwood shareholders approved the share placement on July 12. 

The coal developer was raising funds for drilling its tenements in Queensland.

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