$27 million towards the $47 million cost of cleaning up after the Rena was smashed across Astrolabe Reef. For a government that thinks the RoNS are a good idea (and on Planet Key they are) I suppose this is par for the course. Kudos to the negotiators for getting more than was legally required, though it did occur to me that the $27 million represents what the shipping company would have been liable for if any government since about 1996 had bothered to update the law. And to the shipping company who, after their initial mistake (where there ship ended up polluting someone else's beach) behaved responsibly.
I thought I heard a minister, while explaining what a good deal it was, say that the whole thing was not foreseeable. Which would explain why the oil Pollution Fund has been run down.
As for being unforeseeable it's not like ships have come to grief around our coast before, well:
A sensible government would accept that it's bound to happen again, and would plan both to deal with it and to fund the response.
Spelling Mistakes - 7", 1980