A LAWYER has threatened to have mining magnate Nathan Tinkler arrested if he fails to front a NSW court next week over his failed company Mulsanne Resources.
The former billionaire was due to appear in the NSW Supreme Court on Friday to be questioned about Mulsanne's failure to pay $28.4 million for buying a major stake in listed coal explorer Blackwood Corporation.
But Mr Tinkler failed to appear for questioning by lawyers for Mulsanne's liquidators about the unpaid debt.
After lawyers for all parties held talks behind close doors for several hours, Mr Tinkler's barrister Alec Leopold SC called for a stay of the proceedings.
But Ferrier Hodgson's barrister, Robert Newlinds SC, branded the application "half baked", arguing he should still be allowed to examine Mr Tinkler.
"Where is there any evidence that this is anything but a forensic stunt, the type of which Mr Tinkler, at least in the press, has a reputation for," he said.
In a heated argument between the two lawyers, Mr Newlinds said Mr Tinkler should be held in contempt of court if he did not appear at the hearing.
When senior deputy registrar Rebel Kenna asked whether Mr Tinkler was in attendance his lawyer said: "No".
"We want to make it 900 per cent clear that if Mr Tinkler is not here next Thursday we will be applying to have him arrested," Mr Newlinds said.
Mr Leopold said the proceedings should be stayed because the same solicitor had acted on behalf of Mulsanne's liquidator Ferrier Hodgson, Blackwood and a major shareholder.
He also said the liquidator had met with Blackwood and the major shareholder.
"The liquidator is not acting in the interest of the creditors as a whole," he said.
But Mr Newlinds said there was nothing improper about the liquidator meeting with Blackwood or sharing the same solicitor as the coal company was by far the biggest creditor and the others were small claims from other companies owned by Mr Tinkler.
Registrar Kenna adjourned the stay application until Monday so it can be heard by a judge.
The public examination of Mr Tinkler and other Mulsanne directors is currently listed to go ahead on Thursday.
Blackwood sued Mulsanne Resources after Mr Tinkler's company agreed last July to buy a 33.85 per cent stake in it for $28.4 million.
However, Mulsanne then failed to follow through with the deal.
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