Quote:
Originally Posted by
601 
Loan - has to be paid back.
And what happens if it isn't? Nothing?
The FIFO airport will of course also be paid for with a separate tranche of tax/ratepayer money.
What happens when the loan has to be paid back? The NAIF loan appears to be being made to one of the four separate companies or two separate trusts set up to build the line, these being one of
Carmichael Rail Pty Ltd,
Carmichael Rail Holdings Pty Ltd,
Carmichael Rail Network Pty Ltd,
Carmichael Rail Network Holdings Pty Ltd,
Carmichael Rail Network Holdings Trust, or
Carmichael Rail Network Trust.
These six are owned in turn by Carmichael Rail Singapore Pty Ltd, which is itself owned by Carmichael Rail And Port Singapore Holdings Pty Ltd.
Carmichael Rail and Port Singapore Holdings is then owned by Atulya Resources Limited, in the Cayman Islands. Atulya Resources itself is further owned by the Atulya Resources Family Trust, based in the British Virgin Islands. Does this sound like a reputable, transparently organised company structure? What will happen is when the loan is due to be paid back, after a few years of claiming the appropriate tax deductions for interest and charges along the way, one of these entities will be left with the debt and declare bankruptcy, severing ties to associated trusts and entities and leaving unrecoverable debts, without a way to trace the beneficiaries and money trail that we can already see is being routed through tax havens and opaque corporate structures.