Jun 17, 2014

The shadowy, bizarre company that bought Tinkler’s stud

Nathan Tinkler announced he has sold his horse stud to private investment group Cibola Capital. Freelance writer Kiwa Fisher investigates Cibola -- and finds animal cruelty, an Olympian and very murky waters.

Four weeks after the announcement that Nathan Tinkler’s Patinack Farm horse stud had been sold, the sale has still not been completed and doubts are growing about the deal and the company behind it, United Arab Emirates-based private investment group Cibola Capital, with some wondering if Cibola is all that it seems.

Although Tinkler’s statement quoted “Cibola chief executive Daniel Kenny” and the company’s website, launched in August 2013, lists him as “president/chief executive”, some are even questioning whether he actually exists. The website claims he’s the grandson of another Daniel Kenny, founder of the “DP Kenny Construction” company in 1927, which went on “to be one of the leading construction companies in Sydney at the time”. Yet searching the digitised newspapers on Trove turns up no reference to the company, no tenders, no company or job advertisements, nor is the company listed among either the Sydney or Country Builders in the Sands Directory 1930 to 1933.

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5 thoughts on “The shadowy, bizarre company that bought Tinkler’s stud

  1. kiwa fisher

    to see the “borrowed” logos check out www. and compare “Emirates Tuna” with and, “Falcon Sports” with, “King Pastoral” with

  2. AR

    wotta surprise, he can’t even go broke non-grubbily.

  3. 64magpies

    So all OK then? You’re not going to be popular in some quarters, but nice bit of journalism. And I am enjoying the recurring theme of ex-swimmers going feral that’s been happening in the news for the last year or so.

  4. The Cleaning Lady

    Commercial Services International Investments Pty Ltd, Australian Company Number 158 397 392, is the current (and only) name of the company of which Mr Dewick is sole director.

    The website doesn’t give the full name of the company at any point, nor the ACN. The website is arguably required by law to have both.

    There is a separate, seemingly unrelated company named CSI Investments Pty Ltd, which is in the process of being struck off following its winding up. There is no current registered business name “CSI Investments”. So, the company should be using its full name: Commercial Services International Investments Pty Ltd.

    The company’s registered office is in Parramatta, NSW. It is Mr Dewick’s address which was given as 158 Adelaide Terrace.

  5. The Cleaning Lady

    The business name “Cibola Capital” has been removed from the ASIC register.

    There were three companies called Cibola Pty Ltd: two have been deregistered and the third is subject to a strike off application.

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