❓ Dr. Steve Thomas questions the Cook government regarding the financial details of the extended bailout to Griffin Coal, including the total value, annual payments, and drawdown of funds directed to receivers and managers.
AnsweredQoN 252Legislative Council
QuestionView source ↗
Griffin Coal
252. Hon Dr Steve Thomas to the Leader of the House
representing the Minister for State Development:
I refer to the Cook
government's taxpayer funded, extended five-year bailout to the foreign-owned
and insolvent Griffin Coal in addition to the previous allocation of $380
million up to 30 June 2026.
(1) What is
the total financial value of the extended five-year bailout?
(2) What is the annual amount to be paid,
or is the funding still calculated regularly to cover Griffin Coal's operating
losses?
(3) As at 1 May 2026, what is the total
fiscal drawdown of the initial $308 million that has been directed to
receivers, liquidators and managers of Griffin Coal?
(4) From the allocated $308 million, and
as of 1 May 2026, what is the cumulative financial value of the funds paid to
the receivers, liquidators and managers in the performance of their roles and
the administration of Griffin Coal?
252. Hon Dr Steve Thomas to the Leader of the House
representing the Minister for State Development:
I refer to the Cook
government's taxpayer funded, extended five-year bailout to the foreign-owned
and insolvent Griffin Coal in addition to the previous allocation of $380
million up to 30 June 2026.
(1) What is
the total financial value of the extended five-year bailout?
(2) What is the annual amount to be paid,
or is the funding still calculated regularly to cover Griffin Coal's operating
losses?
(3) As at 1 May 2026, what is the total
fiscal drawdown of the initial $308 million that has been directed to
receivers, liquidators and managers of Griffin Coal?
(4) From the allocated $308 million, and
as of 1 May 2026, what is the cumulative financial value of the funds paid to
the receivers, liquidators and managers in the performance of their roles and
the administration of Griffin Coal?
AnswerView source ↗
I thank the honourable member for some notice of the
question.
(1)–(4) Negotiations and contractual arrangements
between the customers are being finalised. As of 1 May 2026, $216.5 million has
been paid to the receivers and managers of Griffin Coal. Renumeration for the
receivers and managers of Griffin Coal is a matter for the secured creditors.
question.
(1)–(4) Negotiations and contractual arrangements
between the customers are being finalised. As of 1 May 2026, $216.5 million has
been paid to the receivers and managers of Griffin Coal. Renumeration for the
receivers and managers of Griffin Coal is a matter for the secured creditors.
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