NATHAN Tinkler’s Mulsanne Resources has been placed into liquidation after failing to settle a $28.4 million debt for a share placement with Queensland coal explorer Blackwood Corporation.
The Supreme Court has this morning appointed liquidators over Mulsanne.
Blackwood shareholders approved the share placement in July and payment was originally expected within a week.
The coal developer was raising funds for drilling its tenements in Queensland.
It sought to have Mulsanne wound up.
Last week, the court warned both parties should be ready to go to a hearing or reach an agreement this morning after extensions were previously given.