❓ Dr. Steve Thomas questions the government regarding KPMG's advice on the Griffin Coal insolvency, specifically payments, trading while insolvent, and expected outcomes. The Minister's response indicates no payments have been made and KPMG's role is limited to mining operations and funding advice related to the process agreement.
AnsweredQoN 965Legislative Council
Asked
31 August 2023
Member
Portfolio
State and Industry Development, Jobs and Trade
QuestionView source ↗
GRIFFIN COAL — KPMG AND AD ASTRA CORPORATE ADVISORY
965. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I will try my luck. I refer to my
question without notice 935 asked yesterday, 30 August 2023, on the appointment
of KPMG to advise the government on the problems with the insolvent Griffin
Coal that have resulted in a blowout in liquidator grants from this government
now totalling $27.3 million to the receivers and managers.
(1) How much of
the $240 000 value of the contract has been paid to KPMG, and have any
additional payments above the contract been made?
(2) Has KPMG advised the government
that Griffin Coal has been trading while insolvent?
(3) If yes to
(2), from what date did KPMG advise the government that Griffin Coal had
commenced trading while insolvent?
(4) Has KPMG
advised the government what will be the expected final outcome of the financial
crisis at Griffin Coal; and, if so, what was that advice?
(5) If no to (4), what is the
government paying KPMG almost a quarter of a million dollars for?
965. Hon Dr STEVE THOMAS to the minister representing the
Minister for State and Industry Development, Jobs and Trade:
I will try my luck. I refer to my
question without notice 935 asked yesterday, 30 August 2023, on the appointment
of KPMG to advise the government on the problems with the insolvent Griffin
Coal that have resulted in a blowout in liquidator grants from this government
now totalling $27.3 million to the receivers and managers.
(1) How much of
the $240 000 value of the contract has been paid to KPMG, and have any
additional payments above the contract been made?
(2) Has KPMG advised the government
that Griffin Coal has been trading while insolvent?
(3) If yes to
(2), from what date did KPMG advise the government that Griffin Coal had
commenced trading while insolvent?
(4) Has KPMG
advised the government what will be the expected final outcome of the financial
crisis at Griffin Coal; and, if so, what was that advice?
(5) If no to (4), what is the
government paying KPMG almost a quarter of a million dollars for?
AnswerView source ↗
I thank the Leader of the Opposition
for some notice of the question.
(1) No payment has been made to
KPMG.
(2) No.
(3) Not applicable.
(4) No.
(5) KPMG has been
engaged to provide advice to government on mining operations and funding
matters at Griffin Coal as it relates to the process agreement.
for some notice of the question.
(1) No payment has been made to
KPMG.
(2) No.
(3) Not applicable.
(4) No.
(5) KPMG has been
engaged to provide advice to government on mining operations and funding
matters at Griffin Coal as it relates to the process agreement.
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