- as at 30 June 2008
Unquantifiable Contingent Liabilities
The NZDF has potential contingent liabilities relating to war exclusion clauses within life insurance policies held by members of the armed forces.
Quantifiable Contingent Liabilities
|
30 Jun 07 Actual ($000) |
|
30 Jun 08 Actual ($000) |
| 8,237 |
Potential claims from legal proceedings and disputes |
6,096 |
| 3,500 |
Restructuring cost |
6,700 |
| 11,737 |
Total quantifiable contingent liabilities |
12,796 |
The potential claims from legal proceedings and disputes represent the amounts claimed by plaintiffs in relation to the performance of the NZDF’s statutory role. The NZDF is currently disputing these claims.
The NZDF is jointly responsible for redundancy compensation payments if a restructuring of the dockyard contract occurs.
Contingent Assets
The NZDF has no contingent assets (2007 nil).
Note
The accompanying notes form part of these financial statements.
Please use this pdf file to print this page.
Previous | Contents | Next