September 25, 2012 / 2:17 AM / 5 years ago

Blackwood sues Nathan Tinkler's Mulsanne for $30 million

SYDNEY (Reuters) - Coal magnate Nathan Tinkler’s Mulsanne Resources is being sued for $30 million by junior coal explorer Blackwood Resources BWD.AX, the second legal action launched against the resources entrepreneur this month.

Blackwood said in a statement it has applied to have Mulsanne, a private investment vehicle owned by Tinkler, wound up after it failed to pay A$28.4 million ($30 million) for an agreed stake in the junior coal explorer.

Tinkler and Mulsanne did not immediately reply when contacted by e-mail for comment.

Tinkler, who has an empire spanning mining, property development, sports teams and horse breeding, last month abandoned a A$5.3 billion privatization takeover of Whitehaven Coal (WHC.AX).

A source familiar with the deal said that the 36-year-old failed to raise enough equity, falling short by around A$900 million.

    A former electrician who made his fortune by taking high-risk bets in the resources sector, Tinkler is also being sued by property group Mirvac (MGR.AX) to recover about A$14 million.

    Mirvac said Tinkler’s property development firm Buildev Group failed to meet a court-ordered payment for industrial land for a coal terminal. ($1 = 0.9595 Australian dollars)

    Reporting by Jane Wardell; Editing by Edwina Gibbs

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