Aston Resources, a mining company owned by former billionaire Nathan Tinkler, has been put into receivership.
After being forced to sell his stake in Whitehaven Coal for $600 million in June, Aston was Tinkler’s biggest resources asset.
The Whitehaven sale came after he was unable to pay debts owed to his hedge fund creditors.
John Park and Quentin Olde of FTI Consulting have been appointed receivers, according to a statement released by the firm.
Tinkler has recently put property on the market, including private planes, helicopters and and houses. The former electrician has also moved to Singapore.
FTI will take a look at Aston’s projects, and try to find someone to buy them.
During a liquidators’ hearing earlier this year, it was revealed Aston was owned by the Tinkler Group Family Trust.
According to the Sydney Morning Herald, Madison Pacific Trust Ltd appointed the receivers. Madison is the trustee of all of Aston’s secured property.