ILC wants PM to instigate inquiry into Ayers Rock Resort
The chairwoman of the Indigenous Land Corporation, Dawn Casey, wants prime minister Tony Abbott undertake an inquiry into the timing and probity of the $320 million deal to buy the five-hotel resort overlooking Uluru including the Ayers Rock Resort by her own organisation.
The ILC has a debt of around $200 million and the book value of Ayers Rock Resort was recently reduced by $60 million to $250 million.
Ms Casey has asked Mr Abbott to set up a parliamentary committee to investigate all aspects of the purchase.
Indigenous affairs minister Nigel Scullion did not think an inquiry was warranted.
Investec Bank chairman Richard Longes, former board member, strongly rejected claims that the resort is a “bad asset”. The chairman of Sydney merchant bank Grant Samuel, Ross Grant, whose firm was the corporate adviser on the Ayers Rock Resort purchase, also stressed it was not unusual to write down tourism assets.
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