Five years ago, Newcastle electrician-turned-mining magnate Nathan Tinkler was Australias youngest billionaire.
This week, he marked his 40th birthday by being declared bankrupt after GE Commercial took him to court over a $2.8 million disputed debt following the sale of his personal jet.
A sequestration order was issued against Tinkler on February 9, and the former racehorse and football team owner had 21 days to appeal, but chose not to.
I would like to apologise to the creditors and my family, he told Fairfax Media today.
Im not a criminal, I am allowed to get out and earn a living for my family.
As a bankrupt, Tinkler is banned from being a company director and thus resigned as a director of Australian P…
Read the full article at: http://www.businessinsider.com.au/nathan-tinkler-is-officially-bankrupt-2016-3