The administrators of a Nathan Tinkler company which once owed creditors half a billion dollars say they have not forced the sale of the former coal baron's palatial Coffs Harbour house.
The 15-bedroom mansion at Sapphire Beach is on the market with Sotheby's for an estimated $30 million.
The Newcastle Herald reported in 2021 that a US-based accounting firm, FTI Consulting, was threatening to take possession and force the sale of the house after a Tinkler company called Noorinya Holdings allegedly defaulted on a syndicated loan agreement.
FTI said at the time that Mr Tinkler had pledged the house and several other Mid North Coast properties as security under the agreement.
FTI, which was appointed as external administrator in 2021, said Noorinya's debts owed under the loan agreement exceeded $500 million.
But a company spokesman said on Friday that it had not initiated the Coffs Harbour sale and directed the Herald to contact Mr Tinkler for comment.
FTI's disinterest in the house sale suggests Mr Tinkler could be close to reaching an agreement with lead lender Pok Hong Limited and other creditors involved in the loan facility.
Mr Tinkler, who once owned the Newcastle Knights, famously went from billionaire in 2011 to bankrupt several years later owing $540 million.
His bankruptcy was annulled in 2018, but he has continued to face disputed demands for payment from various creditors, including as recently as this year.
He made an unsuccessful takeover bid last year for Australian Pacific Coal and its Dartbrook mine in the Upper Hunter.
The Coffs Harbour beachfront house includes two hectares of land, a 25-metre pool, 15 bathrooms, two separate villas, a seven-car garage and a playground.
To see more stories and read today's paper download the Newcastle Herald news app here.
