Statement of Contingent Liabilities
In this section...
- Annual Report 2008/09 homepage
- Chief Executive's overview
- Strategic context 2008/2009
- LINZ's performance 2008/2009
- Financial statements
- LINZ information
- Appendix
As at 30 June 2009
Quantifiable contingent liabilities
Contingent liabilities are disclosed at the point at which the contingency is evident.
| Actual 2008 $000 |
Actual 2009 $000 |
|
|---|---|---|
| 1,400 | Legal proceedings and disputes | 3,870 |
| 1,400 | Total contingent liabilities | 3,870 |
Legal proceedings & disputes
Legal proceedings and disputes would represent the amounts claimed by plaintiffs in relation to the performance of the Department's statutory role. There is an inherent uncertainty as to the amount and timing of settlement, if any, the Department would ultimately be required to make.
Contingent assets
The Department has no contingent assets (2008: nil).
The accompanying accounting policies and notes form part of these financial statements
