Litigation sees Australia’s VicForests lose $52m

By Callum Godde
The Golden Plains Times
January 6, 2023
Category: Forestry
Region: International

Monique Dawson

VICTORIA’S state-owned logging agency has blamed legal headaches for a large monetary loss last financial year. VicForests said in its annual report it did not meet supply targets in large part because of legal injunctions that rendered planned harvesting of many coupes unviable or prohibited, leading, in part to a $52.4 million deficit. More than half of approved harvests were halted by litigation during planning or after they had begun, creating $10.4 million in direct legal costs. A further $6.2 million was paid to logging contractors who were stood down and another $7.5 million in compensation to customers for failing to meet contracted supply volumes. …“Despite our best efforts the comprehensive result for the year ended 30 June 2022 was a loss of $54.2 million,” CEO Monique Dawson said in the report. …Western Australia is banning native forest logging from 2024.

 

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