TT-Line faced potential insolvency without emergency borrowing, TASCORP reveals

TT-Line could have faced insolvency without emergency borrowing arrangements approved during the election caretaker period, Tasmania’s lending authority has revealed. TASCORP chair Gary Swain told a parliamentary committee the ferry operator’s financial position was “not sustainable” when it requested an extra $410 million in borrowing capacity in April. The Tasmanian Public Finance Corporation approved a…