Liquidators called for Tinkler's Mulsanne
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Mining magnate Nathan Tinkler's Mulsanne Resources is to be wound up and liquidators appointed after it failed to pay a $28.4 million debt to coal explorer Blackwood Corporation.
Blackwood sued Mulsanne Resources after Mr Tinkler's company agreed to buy a 33.85 per cent stake in it for $28.4 million, but then failed to follow through with the deal.
NSW Supreme Court senior deputy registrar Nicholas Flaskas on Tuesday ordered Mulsanne Resources be wound up and Robyn Duggan and John Melluish from Ferrier Hodgson be appointed as liquidators in order for Blackwood to recover the debt.
Blackwood has previously said it was waiting for the money to fund drilling of its coal tenements in Queensland.
Its shareholders approved the share placement on July 12 and the payment was originally expected within a week.