UPDATE 11.30am: Mining magnate Nathan Tinkler's Mulsanne Resources and coal explorer Blackwood's court case has been adjourned for a week while discussions over the settlement of a $28.4 million debt continue.
Blackwood is suing Mr Tinkler's Mulsanne Resources after his company agreed to buy a 33.85 per cent stake in the coal mining company for $28.4 million but has not yet done so.
Both parties appeared in the NSW Supreme Court this morning on the matter but sought an adjournment so discussions could continue with the aim of settling the debt.
Blackwood was seeking to wind up Mulsanne Resources and appoint a liquidator to recover the $28.4 million.
The company has previously said it was waiting for money to fund drilling of its coal tenements in Queensland.
Blackwood shareholders approved the share placement on July 12 and the payment was originally expected within a week. Blackwood later agreed to extend the payment date to August 13.
Senior Registrar Rebel Kenna adjourned the case to the NSW Supreme Court on November 14.