Tinkler resolves ATO debts

Troubled coal baron Nathan Tinkler has settled four tax debts with the Australian Taxation Office, a week after a fresh round of legal action was launched against the magnate by liquidators of his defunct Mulsanne Resources, according to The Australian Financial Review.  

An in-principle settlement was reached between the parties in the Federal Court in Sydney on Friday, with the ATO providing Mr Tinkler with "some time" to get the money owed, the newspaper reported.

The unpaid tax related to Buildev Aviation, the Newcastle Jets, Buildev Development and Hunter Valley Sports Group.

Earlier this week, liquidators for MrTinkler's Mulsanne Resources filed a statement of claim in the New South Wales Supreme Court alleging he did not act in the company's best interests by pursuing a $28.4 million share placement agreement with miner Blackwood Corporation last year. 

The liquidators said Mr Tinkler had no basis to conclude Mulsanne was “in a position to satisfy the Blackwood debt” when he entered the agreement with Queensland explorer Blackwood in May. 

On Friday, Mr Tinkler also settled tax debts against his companies BD (QLD) Project and Buildev Group.