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31.
Contingent liabilities
and contingent assets
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(a) There
is a potential claim related to a disputed contract. The contract
was transferred as part of the sale of the Westrail freight
business on 17 December 2000, but the dispute dates back to
the period when WAGRC was the contractor. The PTA has not
yet received a direct claim under the contract. At this stage,
the extent of the PTA’s potential liability cannot be
reliably quantified.
(b) The
PTA has provided an income tax indemnity to Deutsche Bank
concerning the early termination of a rollingstock lease that
cannot be reliably quantified.
(c) The
PTA has provided an income tax indemnity to LUL Nominees concerning
the early termination of a rollingstock lease that cannot
be reliably quantified.
(d) The
PTA has entered into an agreement with the City of Wanneroo
which will require the PTA to pay $3 million to the City of
Wanneroo if the Government of Western Australia approves the
allocation of funds to the PTA to extend the passenger railway
line north of Clarkson.
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