in Uncategorized

Finally an investigation into Ayers Rock Resort

5 June 2015 The prime minister Tony Abbott has been asked to launch an inquiry into the controversial acquisition of Ayers Rock Resort amid claims new information has come to light.
The Indigenous Land Corporation has written to Abbott advising him it has new information warranting an inquiry into the $300m purchase made by the ILC in 2010. “The problem is the ILC paid too much and we borrowed too much,” CEO Michael Dillon told a Senate committee in Canberra on Friday. The corporation this week sent a 38-page letter to Abbott – bypassing Scullion –advising him of the new information that it believed warranted an inquiry. The letter outlines six alleged breaches of the law.
The resort runs at a profit, but $198m in loans must be repaid over the next two years, forcing the corporation to refinance. Because the resort is only valued at $225m, the corporation will have to inject $30m-35m in new cash.
More information in The Guardian and The Australian
Comment by Wake Up Time: In Wake Up Time an investigation into the financial mismanagement was revealed in June 2014. Now, one year later, finally something is happening. It is time for a thorough investigation.

Write a Comment

Comment