The Australian reported that Mr Nathan Tinkler could be forced to sell down his AUD 629 million stake in Whitehaven Coal in the face of mounting legal action to make him pay outstanding debts and as Blackwood Corporation joins the fray.

The junior coal company yesterday moved to wind up Mulsanne Resources, Mr Tinkler's private investment vehicle, by asking the NSW Supreme Court to appoint a liquidator in respect of the money he owes the coal junior.

Mr Tinkler had moved on Blackwood in May, just after he sold his flagship company, Aston Resources, to Whitehaven Coal. He had agreed to pay the junior AUD 28.4 million to secure a 33.85% stake in the company.

With a queue of companies forming to seek outstanding payments from Mr Tinkler, Blackwood is understood to have taken the legal move to force his hand.

Source - theaustralian.com.au

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