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Ann: Ikon Legal Action - Decision, page-21

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  1. 1,439 Posts.
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    "It is within the region of the amount set aside on the books for this outcome."
    Pharma I can't find any provision in the annual financials to cover this claim.
    Note 2 to the statements - Parent Entity - outlines contingent assets and liabilities without any reference to the Ikon matter and concludes -"Apart from the items noted above the parent entity had no contingent liabilities or contingent assets at 30 June 2018."
    Note 28 - Contingent Liabilities and Contingent Assets - Notes the details of the matter but does not identify any financial provisions.

    I guess at the time of preparing the statements we were planning on winning so it would have been a contradiction to make financial provision for a loss.
    I do believe that the current financial position of the company allows for the award to be covered without any major impact on operations.
 
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