Republic of Nauru Phosphate Corporation
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2000
Financial mismanagement and failed overseas investments
Accounts of Nauru's phosphate-linked financial institutions describe extravagant spending, unsuccessful overseas investments, and rising borrowing connected with the management of phosphate wealth. Examples included failed international real-estate strategies and a reported A$4 million investment in a London musical that closed after poor reviews. A reported A$236 million General Electric loan could not be repaid, leading to the seizure of international real-estate assets, including Nauru House.