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Fortunes reversed for former mates as billionaire Gerry Harvey helps Nathan Tinkler emerge from bankruptcy as Troy … – Muswellbrook Chronicle

IN a sliding doors moment, Nathan Tinklers former right-hand man, Troy Palmer, has been declared bankrupt with debts of more than $21 million, just as word emerges that his former one-time billionaire boss has had his personal bankruptcy annulled.

The Herald can reveal that retail giant Gerry Harvey has bailed the former mine electrician from Muswellbrook out for a second time, loaning him more money late last year.

Mr Harvey who famously loaned Mr Tinkler $50 million, and got it back  confirmed on Friday that he had loaned him more money, but said he had no idea what Nathan has done with it.

Property searches reveal Mr Harveys company, MSJG Pty Ltd, has taken mortgages over five rural properties, near Port Macquarie, owned by Serene Lodge…

Read the full article at: http://www.muswellbrookchronicle.com.au/story/5593121/nathan-tinkler-emerges-from-bankruptcy-with-help-from-retail-giant-gerry-harvey/

Category: BankruptcyBy Insolvency Advisory AccountantsAugust 20, 2018

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Fortunes reversed for former mates as billionaire Gerry Harvey helps Nathan Tinkler emerge from bankruptcy as Troy … – Muswellbrook Chronicle

IN a sliding doors moment, Nathan Tinklers former right-hand man, Troy Palmer, has been declared bankrupt with debts of more than $21 million, just as word emerges that his former one-time billionaire boss has had his personal bankruptcy annulled.

The Herald can reveal that retail giant Gerry Harvey has bailed the former mine electrician from Muswellbrook out for a second time, loaning him more money late last year.

Mr Harvey who famously loaned Mr Tinkler $50 million, and got it back  confirmed on Friday that he had loaned him more money, but said he had no idea what Nathan has done with it.

Property searches reveal Mr Harveys company, MSJG Pty Ltd, has taken mortgages over five rural properties, near Port Macquarie, owned by Serene Lodge…

Read the full article at: https://www.muswellbrookchronicle.com.au/story/5593121/nathan-tinkler-emerges-from-bankruptcy-with-help-from-retail-giant-gerry-harvey/?cs=1487

Category: BankruptcyBy Insolvency Advisory AccountantsAugust 17, 2018

Post navigation

PreviousPrevious post:Up to ‘eight’ potential buyers eye off Kimberley Kampers – Northern StarNextNext post:Fortunes reversed for former mates as billionaire Gerry Harvey helps Nathan Tinkler emerge from bankruptcy as Troy … – Newcastle Herald

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Australia AGD Moves to Reform Bankruptcy Law – Regulation Asia
July 17, 2024
Case note | Director's personal liability for insolvent trading – Lander & Rogers
July 17, 2024
How the new $20,000 personal bankruptcy threshold could affect SME directors – SmartCompany
July 17, 2024
Australia AGD Moves to Reform Bankruptcy Law – Regulation Asia
July 17, 2024
Case note | Director's personal liability for insolvent trading – Lander & Rogers
July 17, 2024
Law reform to lift stigma from bankruptcy, deliver fairer system – The Mandarin
July 17, 2024
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