The loaning of $10.5 million in public funds to a Darwin water bottling company shortly before it collapsed due to financial problems is being investigated by the corruption watchdog.
The NT government's now-defunct Infrastructure Development Fund gave the money to NT Beverages in February last year, but the company went into voluntary administration last December and has since been liquidated.
That sparked anger and questions about the judgment of the prominent figures involved with the IDF, in not knowing the company was broke.
IDF's board included head NT public servant Jodie Ryan, former Infrastructure Capital Group executive director Les Fallick, Paspaley Pearls CEO James Paspaley, former Macquarie Bank boss Bill Moss and former Future Fund managing director Mark Burgess.
The company's Akuna bottled water is still sold and marketed by new owners Refresh Waters as being from the NT and having health benefits.
While the liquidation process is all but complete, neither the NT Government nor employees owed wages and superannuation will see any money.
Liquidator George Georges blamed poor management in a report, and is investigating "unreasonable director related transactions" including a $107,000 loan by NT Beverages to a software company which has also been shut down.
Hugh Jones was managing director of both companies and is now bankrupt.
The commissioner of the Territory's new Independent Commission Against Corruption, Ken Fleming, said the NT Beverages issue was a priority.
"The Akuna water issue, the investment corporation, $10 million of public funds, obviously we are very interested in that," he told ABC radio on Thursday.
"Just what we will do about it yet, we can't say."
Mr Fleming named two other high profile possible ICAC investigations including the former Indigenous Employment Provisional Sum program, which was widely rorted before the Labor government shut it down.
Two people have been jailed over the scheme that was supposed to incentivise employing Aboriginal Australians, but was rorted by employers making false claims for taxpayer funds.
The controversial awarding of the 168-hectare former Berrimah Farm site for free to Darwin property developers the Halikos Group in 2015 by the former CLP government was of interest too, he said.
"We've been told there are issues about the manner in which Berrimah Farm was was transferred," he said.
The independent ICAC body had received 318 reports of corruption with varying levels of seriousness since opening more than eight months ago, Mr Fleming said.
He said he would be asking for more government funding for his office, which currently has only 14 full-time staff.
It is advertising for a new investigations manager after Allan Borg recently resigned.
Chief Minister Michael Gunner said he would take such a request seriously and said he expected Mr Fleming to have a heavy workload given he was the NT's first ICAC commissioner.