Once ranked as Australia's 26th-richest person by Forbes in 2012, Singapore-based coal baron Nathan Tinkler has fallen from such great heights — he was recently declared bankrupt after losing a legal tussle.
The 40-year-old got bankrupted on Tuesday over a claim that he owed US$2.25 million to GE Commercial Australasia Pty for a luxury jet. He plans to appeal the ruling imposed by Australia's Federal Court, Reuters reports.