Monday, 31 March 2014

Australian Water Holdings: Footy, limousines and pole dancing

It would appear that either the directors or the ten or so employees knew how to give themselves a good time…….

Excerpt from NSW Independent Commission Against Corruption (ICAC) Operation Credo-Spicer Investigation public hearing on 27 March 2014 on the subject of Australian Water Holdings Pty Ltd:

GEOFFREY WATSON SC (counsel assisting ICAC): And earlier in your evidence you used an expression horrified, you were  horrified by the expenses, apart from the salaries, you’ve told us about that, were there other aspects that horrified you?

MICHAEL COSTA (former NSW Labor Treasurer who succeeded Arthur Sinodinos as Chairman): Oh, Mr Canaway made it very clear what some of the expenses were via his due diligence um, arrangements and, you know, they were quite staggering.

WATSON: What sort of things?

COSTA: Oh, that stuff that’s been canvassed in the press, limousines um, um, I think he did mention pole dancing um, so I don’t know what that was all about um, look, it was, it was clear that the um, the, the expenses were out of control um  

WATSON: What about the box out at the footy stadium?

COSTA: I, I didn’t find out about that till much later and Robert Groom advised me of that, we - and when I was there I tried, we tried to cancel it um, but it wasn’t um, possible to cancel because they had a, a contract. I think I must have found out um, there might have been two or three games left or ah, but I never of course went there. The other um, was it, the other expenses were things like directors’ fees for the Queensland directors which I thought were ah, you know um, had to be cut ah, that whole Queensland operation though it was, I’ve got to say they were doing good work up there, I mean, the proposal they came up with ah, in terms of the coal seam gas was a very innovative proposal and if it had of been successful would have been um, um, you know, added enormous value to the company.

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