NAB working with mining tycoon Nathan Tinkler
The National Australia Bank broke its silence yesterday, confirming it was “continuing to work with Buildev”, Nathan Tinkler’s property company, which is at the centre of a court action over unsettled property acquistions.
The Australian Financial Review then noted NAB declined to comment on its exposure to Buildev.
Tinkler has been in seeming financial difficulty since he failed to finance a $5.25 billion deal to privatise Whitehaven Coal in August. Since then several creditors have been pursuing his companies for payment.
Last Friday he staved off the potential winding-up of three private companies after reaching a last-minute agreement with mining contractor Sedgman concerning a $2 million debt.
Queensland coal developer Blackwood Corp is also pushing to have another of Tinkler’s private companies wound up after he failed to follow through with a $28.4 million equity placement.
His latest fiscal brushfire involves late payments of wages and superannuation for the Newcastle Knight players with The Daily Telegraph Phil Rothfield report today putting it down to tardiness.
