A $5 million bonus from the Commonwealth will not pay for any of the lawyers who worked on the Bambi disaster compensation case, but the compensation fund will be “rewarded with the full amount of the bonus”, according to the Federal Government’s compensation fund manager.
The Commonwealth paid $5.3 million in compensation to a company called CitiBam that worked on a $100 million compensation package for the victims of the 2002 tsunami, and a $50 million compensation payment to the families of those killed in the 2004 tsunami.
But now the Commonwealth has decided to award a $5,000 bonus to Citi Bam and $50,000 to the company’s parent company, which is owned by the prime minister, who is also an MP.
It is the first time a major Australian Government fund has been awarded a reward to a non-government entity for work done on a major disaster, and the reward was announced in a press release on Friday.
In the press release, the fund manager for the fund said it was a “small step” to reward Citi and its parent company for their contribution to the recovery, and said they would be “honoured” to be rewarded with the bonus.
“The award will be given in addition to the award of the award to Cibibas parent company,” the fund statement said.
A Citi spokesperson said they had not yet received the payout from the Government.
They had been advised of the reward but would not provide any further comment until they received it.
While the Citi deal has not yet been finalised, the Government’s fund manager, John Daley, said the award was an important step forward for the compensation compensation fund.
“[It] sends a clear message that the Government is committed to ensuring compensation compensation compensation is provided to the victims’ families and survivors and is in line with Australia’s international obligations,” he said.
“Citi Bams contribution to Bambii compensation will be recognised and rewarded with this award.”
He said the payout was “a small step” in the right direction for the public purse and the government’s compensation compensation program, which he said was “focusing on helping the families and surviving victims of disasters”.
“Cibibos contribution will be rewarded by the Government in a further manner and to ensure the families receive a fair payment,” he added.
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