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Tinkler back in court next week


Mining magnate Nathan Tinkler's Mulsanne Resources and coal explorer Blackwood Corporation have been given another week to work out a settlement over a $28.4 million debt before returning to court.

Blackwood is suing Mr Tinkler's Mulsanne Resources after his company agreed to buy a 33.85 per cent stake in the coal mining company for $28.4 million but has not as yet followed through on the deal.

The coal mining company is seeking to wind up Mulsanne Resources and appoint a liquidator to recover the money.

Both parties appeared in the NSW Supreme Court in Sydney on Tuesday but sought an adjournment for the second time this month so discussions could continue.

Senior Deputy Registrar Jennifer Hedge granted the adjournment but noted it was the second one granted to enable discussions between the parties.

She said she expected the parties to either dismiss the case or proceed to a hearing when the matter returned to court next week.

Otherwise, she said, they needed to have "a good reason".

Blackwood has previously said it was waiting for the money to fund drilling of its coal tenements in Queensland.

Its shareholders approved the share placement on July 12 and Mr Tinkler's payment was expected within a week.

Blackwood later agreed to extend the payment date to August 13.

Senior Deputy Registrar Hedge adjourned the case to the NSW Supreme Court on Tuesday, November 20.