QWC head Elizabeth Nosworthy in the news - for all the wrong reasons ...

A company chaired by Queensland Water Commission head Elizabeth Nosworthy has business ties to several firms with contracts for the $9 billion southeast Queensland water grid.

However, Ms Nosworthy said she had no involvement in the selection of the contractors.

She has denied the potential for a conflict of interest arising from the disclosure in The Australian this week that a company she chairs, the beleaguered investment managers Babcock & Brown, has had commercial relationships with the French infrastructure giant Veolia.

See - Queensland water commissioner tied to deals for $9bn grid.

Could Elizabeth Nosworthy be headed for a hat-trick?

The seemingly cursed company director has already presided over the collapse of technology provider Commander Communications. And Babcock & Brown, the broken investment house she chairs, is at the mercy of its bankers. Now, the once lauded heart device maker Ventracor, where she serves as a non-executive director, is running scarily close to running out of cash.

See - Elizabeth Nosworthy close to a third crash.

There are also questions over the future of the Babcock board, particularly chairman Elizabeth Nosworthy, who held the deputy's position as the company slid into debt.

See - Deal gives B&B $150m and two months.