Telstra 2012 Annual Report Download - page 185
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Telstra Corporation Limited and controlled entities
155
Notes to the Financial Statements (continued)
We have no significant contingent assets as at 30 June 2012. The
details and maximum amounts (where reasonable estimates can be
made) are set out below for our contingent liabilities.
Telstra Entity
Refer to note 30 for Telstra Entity contingent liabilities.
Other
Other contingent liabilities identified for the Telstra Group, are as
follows:
3GIS Partnership
As we are subject to joint and several liability in relation to
agreements entered into as part of our 3GIS Partnership with
Vodafone Hutchinson Australia, we would be liable if our partner in
this relationship failed to meet any of their obligations. As a result,
our contingent liabilities arising from the above agreements are $96
million (2011: $91 million).
ASIC deed of cross guarantee
A list of the companies that are part of our deed of cross guarantee
appear in note 25. Each of these companies (except Telstra
Finance Limited) guarantees the payment in full of the debts of the
other named companies in the event of their winding up. Refer to
note 25 for further information.
23. Contingent liabilities and contingent assets