Livium Closes Out Envirostream Fire Insurance Claims, Wipes Provision
Livium (ASX:LIT) said its insurer has settled a final claim for around AU$3.7 million relating to the Jan. 19, 2019, fire at Envirostream Australia's former Campbellfield premises in Victoria, according to a Friday Australian bourse filing.The total settlements across the five claims are around AU$5.5 million. Envirostreamʼs insurer has confirmed that it is not aware of any active legal proceedings remaining in relation to the fire following this. As of Friday, Livium's fire-related provision has been reduced to nil.The company reassessed its total provision as of June 30 to AU$5.5 million, compared with the AU$5.4 million previously disclosed in its preliminary final report. The AU$103,000 difference will be recognized as an additional non-cash remediation expense.
