Nathan Tinkler resolves Mirvac Newcastle dispute
A legal dispute between Mirvac Group and two of Nathan Tinkler’s companies over a land sale has been almost settled, subject to a $16.7 million cheque arriving next Monday.
Mirvac subsidiary Domaine Steel River had been seeking payment for an industrial site in Newcastle, NSW, from Nathan Tinkler’s companies Ocean Street Holdings and Buildev Group.
The two companies were ordered by the NSW Supreme Court to pay the agreed purchase price by September but failed to pay up, leading to legal proceedings yesterdau before Justice Michael Slattery.
The parties reach their agreement which Mirvac indicated rested on the defendants agreeing to complete the contract on Monday 29 October at 2pm.
"If they fail to complete they have consented to the appointment of a sequestrator," a Mirvac spokeperson said.
Final orders will be made on Tuesday, October 30 at 9.30am.
The Australian Financial Review reports Nathan Tinkler is slightly more liquid having sold his equity in a residential joint venture in Sydney's north west.
