Wednesday, 20 February 2013 09:59
The Supreme Court has dismissed two tax debt cases against troubled resources magnate Nathan Tinkler's sports interests, including the Newcastle Knights rugby league club, after settlements were reached between the parties.
In the court in Sydney, the Australian Taxation Office (ATO) said cases against the Knights and Mr Tinkler's Hunter Sports Group were dismissed "on the basis an accommodation has been reached".
But a third tax debt case involving the Newcastle Jets soccer club was adjourned until 5 April along with four other actions being taken against Mr Tinkler by private businesses.
According to documents filed in the Federal Court in Sydney, the Knights owed more than $1.4 million to the tax office, the Jets owed just over $1 million, while Hunter Sports Group was $184,000 in the red.
Wednesday's dismissal of the case against the Knights dispels fears over the club's future.
The ATO had applied for the Knights, the Jets and the Hunter Sports Group to be wound up due to unpaid debts.
The lawyer acting for Mr Tinkler had little to say outside court but did indicate negotiations were continuing with the ATO over the Jets' tax debt.
The court ordered that in the cases of the two dismissed actions, the defendants pay the ATO $4538 in costs for each case.
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