Wednesday, 27 February 2013

Court decision on asset sales


Bugger!

Court rules in favour of Mighty River share sale

The Supreme Court has dismissed the Maori Council's bid to stop the Government partially selling some state assets.


27 February, 2013

Earlier in February, the council went to New Zealand's highest court seeking to overturn an earlier High Court decision which found that there was no connection between the sale of shares in Mighty River Power and the need to address Maori claims to water.

In a decision released on Wednesday, the Supreme Court ruled that the proposed sale of shares is able to be reviewed by the courts to ensure that it is consistent with the principles of the Treaty of Waitangi.

However, the court says there are several reasons why any share sale will not materially impair the Crown's ability to compensate any Treaty breaches.

It says that includes the Crown's acknowledgement that Maori have interests and rights in relation to particular waters, and the Crown's retention of the means to remedy any Treaty breaches.

The Supreme Court said the Maori Council had one success in the case in the court's finding that the Crown was bound to comply with Treaty

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