Contingencies
Model Financial Statements: Te Motu Regional Economic Development Trust 2010/11
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Contingent liability |
| NZ IAS 37.86(a),(b) |
The Trust has one legal proceeding against it in relation to a personal grievance claim (2010 $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. |
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Contingent assets |
| NZ IAS 37.89 |
The Trust has no contingent assets (2010 $nil). |
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