Note 20: Contingencies
Te Motu Regional Economic Development Trust: Model financial statements 2008/09.
Note 19: Capital commitments and operating leases
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). |
