❓ A member of parliament questions the Premier regarding the government's contract with Matrix Finance Group, specifically concerning potential financial losses and the decision to renegotiate the contract. The response avoids direct answers, stating renegotiations are underway.
AnsweredQoN 78Legislative Council
Asked
16 August 2000
Member
Portfolio
Leader of the House representing the Premier
QuestionView source ↗
Given the Premier’s continued denial of financial losses resulting from the Government's contract with the Matrix Finance Group – (1) Why has the Government now decided not to extend this contract? (2) Have negotiations to change the conditions of the existing lease arrangements to make them more acceptable to the State Government and the two banks financing the deal now been completed? (3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE
AnswerView source ↗
(1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(1) Why has the Government now decided not to extend this contract? (2) Have negotiations to change the conditions of the existing lease arrangements to make them more acceptable to the State Government and the two banks financing the deal now been completed? (3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(2) Have negotiations to change the conditions of the existing lease arrangements to make them more acceptable to the State Government and the two banks financing the deal now been completed? (3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(1) Why has the Government now decided not to extend this contract? (2) Have negotiations to change the conditions of the existing lease arrangements to make them more acceptable to the State Government and the two banks financing the deal now been completed? (3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(2) Have negotiations to change the conditions of the existing lease arrangements to make them more acceptable to the State Government and the two banks financing the deal now been completed? (3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(3) If yes, what changes were agreed to and will the Premier table those changes? (4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(4) How much will it cost the Government to get out of the contract if it is terminated early? (5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(5) How is this cost calculated? Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
Hon N.F. MOORE replied: (1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
(1)-(5) The Government is seeking to renegotiate the transaction to a shorter term, therefore a termination of the contract is not being contemplated. When the negotiations for the restructured facility are complete, an appropriate announcement will be made.
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