Former NSW MP and right-wing powerbroker Eddie Obeid may lose his parliamentary pension of about $120,000 a year after he was found guilty of wilful misconduct in public office.
Obeid faces up to five years' jail for corruption after he was found to have lobbied the then Maritime Authority's deputy chief executive, Steve Dunn, in 2007 about a long-running dispute over the renewal of leases at Circular Quay.
Former parliamentarians convicted of crimes or serious offences warranting at least five years' imprisonment can have their pensions invalidated.
The federal opposition leader, Bill Shorten, and former NSW Labor premiers Morris Iemma and Kristina Keneally slammed their former ally. Shorten called him a disgrace, Iemma said he misused his privilege, and Keneally said the conviction was a good outcome for the state.