| |
Guarantees |
Claims for damages or costs |
Total |
| |
|
|
|
|
|
|
|
2015 |
2014 |
2015 |
2014 |
2015 |
2014 |
|
$’000 |
$’000 |
$’000 |
$’000 |
$’000 |
$’000 |
| Contingent liabilities |
|
|
|
|
|
|
| Balance from previous period |
15 |
129 |
314 |
726 |
329 |
855 |
| New contingent liabilities recognised |
98 |
– |
166 |
– |
264 |
– |
| Re-measurement |
– |
1 |
59 |
(109) |
59 |
(108) |
| Liabilities realised |
– |
– |
– |
– |
– |
– |
| Obligations expired |
(15) |
(115) |
– |
(303) |
(15) |
(418) |
| Total contingent liabilities |
98 |
15 |
539 |
314 |
637 |
329 |
| Net contingent (liabilities) |
(98) |
(15) |
(539) |
(314) |
(637) |
(329) |
| |
|
|
|
|
|
|
| Contingent assets |
|
|
|
|
|
|
| DFAT has no contingent assets to report at 30 June 2015 (2014: nil). |
| |
|
|
|
|
|
|
| Quantifiable Contingencies |
|
|
|
|
|
|
| The above table reports contingent liabilities in respect of claims for damages/costs of $538,779 (2014: $314,543). This amount represents an estimate of the department’s liability based on precedent cases and on advice from the department’s external legal service providers. The department is defending the claims. |
|
|
|
|
|
|
|
| The above table also reports contingent liabilities in respect of bank and residential lease guarantees made by the department of $98,326 (2014: $15,205) |
| |
|
|
|
|
|
|
| Unquantifiable Contingencies |
|
|
|
|
|
|
| At 30 June 2015, the department was involved in a number of litigation matters for losses allegedly suffered by claimants. The department is defending these claims. It is not possible to estimate the amounts of any eventual payments that may be required in relation to these claims. |
| |
|
|
|
|
|
|
| Significant Remote Contingencies |
|
|
|
|
|
|
| The department is currently defending a number of other legal claims. At 30 June 2015, advice from the department’s external legal service providers is that the department has a strong case in each of these matters and is not likely to be found liable. |