Quarterly report pursuant to Section 13 or 15(d)

Employee Severance Costs

v2.4.1.9
Employee Severance Costs
 9 Months Ended
Mar. 31, 2015
Restructuring and Related Activities [Abstract]  
Employee Severance Costs
Note 17 - Employee Severance Costs
The Company is required to record charges for one-time employee severance benefits and other associated costs as incurred. In July 2012, the Company incurred severance costs payable in connection with the termination of the employment of certain employees pursuant to the terms of their employment agreements, $250 thousand of which were paid during the nine months ended March 31, 2014.
On March 31, 2014, the Company sold its interests in Palm Valley and Dingo to Central. Pursuant to the Sale Deed, the Company incurred severance costs payable in connection with the termination of certain MPA employees. For the nine months ended March 31, 2014, the Company expensed total employee-related severance costs of approximately $1,500 thousand, all of which were charged to loss from discontinued operations, net of tax, in the unaudited condensed consolidated statement of operations. All related severance benefits were paid as of June 30, 2014.
On August 31, 2014, the Company provided a notice of termination to the only remaining employee of its MPA subsidiary. As a result, during the nine months ended March 31, 2015, the Company expensed and paid total employee-related severance costs of $475 thousand.