Harvey Norman Boss Gets Back Debt After Forced Auction Sale


	Harvey had seized the assets after Tinkler defaulted on a $40M loan from the mass market retailer. The debt will be extinguished after the sale of Mr Tinkler’s four Patinack Farm properties in Canungra, in southern Queensland which are expected to sell for between $18 million to $23 million. Two additional properties in NSW’s Hunter Valley and one in Victoria will also be sold. The Hunter Valley properties have a selling range of between $17 million and $30 million in total and the Victorian property is valued at up to $3 million. Mr Tinkler could stand to receive a total of about $90 million from the sales. Taking $40 million out for Mr Harvey leaves him approximately $50 million to play with.

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David Richards

David Richards has been writing about technology for more than 30 years. A former Fleet Street journalist, he wrote the Award Winning Series on the Federated Ships Painters + Dockers Union for the Bulletin that led to a Royal Commission. He is also a Logie Winner for Outstanding Contribution To TV Journalism with a story called The Werribee Affair. In 1997, he built the largest Australian technology media company and prior to that the third largest PR company that became the foundation company for Ogilvy PR. Today he writes about technology and the impact on both business and consumers.

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