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      - Note 20: Contingencies
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Note 20: Contingencies

Te Motu Regional Economic Development Trust: Model financial statements 2008/09.

Contingencies

	Contingent liability
NZ IAS 37.86(a),(b)	The Trust has one legal proceeding against it in relation to a personal grievance claim (2008 nil). The potential liability to the Trust, if the claim is successful, is $25,000. The probable outcome of the personal grievance will not be known until legal proceedings progress further.
	Contingent assets
NZ IAS 37.89	The Trust has no contingent assets (2008 nil).

Note 19: Capital commitments and operating leases Note 21: Related party transactions Right arrow

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