Fallen magnate Nathan Tinkler’s 19.4 per cent stake inWhitehaven Coal Limited
(ASX:WHC) is reportedly under threat of being lost to creditors.
According to News Corp reports, Mr Tinkler’s $560 million shareholding in the miner is at serious risk of being lost to creditors if he fails to make a loan payment to creditors by tomorrow.
The former billionaire owes up to $700 million to a variety of lenders and is expected to pay $200 million by November 30.
His biggest lender, US investment company Farallon Capital Partners, is believed to hold Tinkler’s Whitehaven stake as loan security, fuelling the speculation.
Whitehaven Coal reported a net profit of $62.5 million for fiscal 2012.
