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Federal Court rules Patinack Farm to be wound up

West Australian Racing

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  • DamienWyerDamienWyer    8,014 posts
    The end is in sight
    +1 -1
  • darkshinesdarkshines    2,837 posts
    So who buys All Too Hard . . . ??
    +1 -1
  • RIORIO    14,902 posts
    being in sight and being done, seem to be two totally different propositions with this chap
    +1 -1
  • scenic11scenic11    236 posts
    Coolmore
    +1 -1
  • tonytony    2,438 posts
    This is an associated company not the main entity.

    Statement from Patinack

    Following media reports Patinack Farm Administration has been placed in liquidation over a $17,000 debt owed to WorkCover South Australia, a spokesperson for the Tinkler Group issued the following statement:

    There was an administrative error in the WorkCover matter by an associate company of Patinack Farm and the outstanding monies, as well as costs, have been paid.

    There will be no further comment.
    +1 -1
  • scenic11scenic11    236 posts
    edited November 2012
    Hahahahahahahahahah
    love how he always pays on the death knock!
    :)) :)) :)) :)) :)) :))
    +1 -1
  • scenic11scenic11    236 posts
    http://www.heraldsun.com.au/news/national/nathan-tinkler-company-patinack-farm-administration-liquidated-over-17000-debt/story-fndo471r-1226521140099
    +1 -1
  • DamienWyerDamienWyer    8,014 posts
    edited November 2012
    "Employers who fail to meet their legal obligations are not just cheating the WorkCover Scheme, but also other employers who do the right thing and those workers injured during their employment that need access to vital rehabilitation and compensation services," she said.

    "WorkCover will continue to pursue employers who fail to pay their premiums and take any necessary action.

    "We will now work with court-appointed Liquidator to provide any documentation they require as part of the liquidation process."

    +1 -1
  • LuckyLongshotsLuckyLongshots    4,270 posts
    Getting more interesting by the day:

    http://www.racingandsports.com.au/racing/rsnewsart.asp?NID=265595

    An interesting quote form the article:
    "The information I have about the assets of the company are that there aren't very many."
    +1 -1
  • scenic11scenic11    236 posts
    Yes, it is getting more interesting by the day......not much respect for the employees by Patnsack.

    http://www.breednet.com.au/news2006.asp?id=85468
    +1 -1
  • TiversTivers    7,720 posts
    My experience with Patinak would lead me to say he has been taken for a massive ride by quite a sizeable number of persons.
    To a degree, I say fair cop that he should say enough is enough
    +1 -1
  • DamienWyerDamienWyer    8,014 posts
    Liquidators have this morning moved into Qld operations it is being reported



    +1 -1
  • IntoItIntoIt    659 posts
    I don't have any experience with Patinak but as an observer i wondered why he would pay top dollar for horses and yet get nothing for the stock he sold. and why did he buy what he did.Did
    patinak just become a dumping ground for questionable stock .Surely he wasnt there putting his hand up at the auctions nor signing of on sales. So who are his agents....they must be accountable for something.Could this play out like the dodgy financial institutions.
    Lot of people are going to hurt on this one and it wont just be Patinak employees.
    +1 -1
  • DaleDale    1,346 posts
    another last minute reprieve.............As far as the horses are concerned into it. i know that he would search out mares of horses he liked when growing up and on the punt.
    So if he remembered backing a horse in a maiden at scone in 2004 and it won him maybe $100 he has since gone out and bought every single family member of that horse. I guess you can do that when you have plenty.That is one of the reasons why he owns a few cheaper horses.

    I said it before, he's not going anywhere....when push finally comes to shove, he all ways has a few mil tucked under the matress.

    +1 -1
  • thefalconthefalcon    20,505 posts
    all i can say is that he must be surrounded by a bunch of "yes men" or else he paid peanuts and got monkeys.
    financial managers, general managers would have cheque books to pay the day to day expenses, like insurance. surely they would not have to run every single payment past NT.
    the man appears to be a loud mouthed, brash, poorly educated who has succeeded with pure luck, guile and animal cunning.
    he will possibly survive with those attributes.
    +1 -1
  • goosegoose    1,638 posts
    :)) very funny Falcon besides this would like to see a list of his expensive yearlings has found ATH and Nechita some dont find any so why not sell them and others such as Sharmadashing to raise some cash?
    +1 -1
  • DaleDale    1,346 posts
    everyone keeps missing the point. he doesn't need to raise funds. he has the funds. he just doesnt like other people having HIS funds.
    +1 -1
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