Mirvac’s legal battle with Nathan Tinkler over Newcastle industrial land sale deferred to September 18

Mirvac’s legal battle to get coal mining magnate Nathan Tinkler to meet an industrial land sales contract has been deferred to a September 18 NSW Supreme Court hearing.

Mirvac, through its Domaine Steel River entity, is suing Tinkler's private companies Ocean Street Holdings and guarantor Buildev Group after they failed to pay for the industrial land in Newcastle.

The companies agreed to buy an industrial site the Newcastle from Mirvac in July last year for $14 million but declined to settle after the NSW government rejected his plans for a fifth coal export terminal at Mayfield.

Tinkler then missed a court ordered September 1 deadline to pay Mirvac, prompting Mirvac to lodge a contempt of court order to sequester his assets.

The case went to the NSW Supreme Court yesterday but was deferred to September 18 to give Tinkler’s lawyers time to prepare their defence.

In a statement Mirvac said: “There is no change to the intentions of Mirvac's Domaine Steel River to pursue its rights against Tinkler's Buildev Group to ensure that effect is given to earlier court orders and for the contract of sale to be completed.”

A spokesperson for Tinkler declined to comment on the matter.

Tinkler was estimated to have a personal fortune of $915 million according to the BRW Rich List released in May.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer


Be the first one to comment on this article
What would you like to say about this project?