Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Te Mana o Ngāti Rangitihi will not appeal decision

Media statement

13 December 2013

Te Mana o Ngāti Rangitihi will not appeal Appeal Court decision

Following legal advice Te Mana o Ngāti Rangitihi Trust (Te Mana) has decided not to appeal the recent judgement relating to the Eastern Bay Energy Trust (EBET).

Chairman Graham Pryor says Te Mana has been vindicated by the Appeal Court Judges’ conclusion that a poll conducted in 1999 amounted to a breach of trust but that Te Mana wishes to now move on.

Mr Pryor said “Te Mana has decided to let the court ruling rest. Thankfully we now have clarity on the matter and we are pleased that the Court has provided a remedy for EBET to continue to hold the shares it currently owns despite having found EBET was in breach of its Trust Deed.

“Te Mana took court action to ensure the process EBET was using was open, informative and transparent for its beneficiaries. We are pleased that the Court of Appeal has provided some guidance on this and we’ve decided it is in the best interests of all involved to now move on,” said Mr Pryor.

Court action was started by Eastern Bay Energy Trust back in September 2010, and at that point Te Mana’s legal advice was to challenge EBET’s polling process to seek consumer approval to purchase all shares in Horizon Energy that it did not already own. Te Mana filed injunction proceedings, which were successful in getting EBET to abandon any reliance on the poll.

Questions were raised about whether or not EBET was in breach of its own trust deed in purchasing Horizon shares in excess of a 25% cap placed on it.

Last month the Court of Appeal concluded that while EBET had the power to acquire more shares, but that the poll to gain consumer approval was inadequate and therefore acquiring the shares was not authorised.

Te Mana will not be exposed to any costs of the court action as its supporter Marlborough Lines has previously agreed to pay all costs.

ENDS


About Te Mana o Ngāti Rangitihi Trust

Te Mana was established in 2008 as a Post Settlement Governance Entity (PSGE) for the Central North Island Iwi Collective Forestry settlement. In 2011, Te Mana began engaging with the Crown, seeking a mandate to negotiate a comprehensive settlement of all Ngāti Rangitihi historical claims. Te Mana is led by Chairman Graham Pryor and Hāpai-Ō (Chief Executive) Anthony Olsen, and has 4,000+ registered beneficiaries.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Drone Strikes And Judith Collins‘ Last Stand

The news that a New Zealand citizen was killed last November in a US drone attack in Yemen brings the drones controversy closer to home.

To the US, drones are a legitimate response to the threat posed by the al Qaeda organisation and its franchisees... To the US, the drones carry the added advantage of not putting US troops at risk on the ground, and minimises the need for putting them in large numbers in bases in the countries concerned, always a politically sensitive point.

The counter-argument, well articulated by security analyst Paul Buchanan on RNZ this morning, is that this particular drone attack can be said to amount to an extra-judicial execution of a New Zealand citizen by one of our military allies, in circumstances where the person concerned posed no threat to New Zealand’s domestic security. More>>

 

Parliament Today:

Policies: Labour’s Economic Upgrade For Manufacturing

Labour Leader David Cunliffe has today announced his Economic Upgrade for the manufacturing sector – a plan that will create better jobs and higher wages. More>>

ALSO:

Gordon Campbell: On The Life And ACC Work Of Sir Owen Woodhouse

With the death of Sir Owen Woodhouse, the founding father of the Accident Compensation Scheme, New Zealand has lost one of the titans of its post-war social policy. More>>

ALSO:

Bad Transnationals: Rio Tinto Wins 2013 Roger Award

It won the 2011 Roger Award and was runner up in 2012, 2009 and 08. One 2013 nomination said simply and in its entirety: “Blackmailing country”... More>>

ALSO:

Select Committees: Tobacco Plain Packaging Hearings

The Stroke Foundation is today backing the Cancer Society and Smokefree Coalition who are making oral submissions to the Health Select Committee in support of proposed legislation to remove of all branding from tobacco products. More>>

ALSO:

Milk: Oravida Asked For Cabinet Help

New evidence released by New Zealand First today reveals Justice Minister Judith Collins used her position to manipulate the Government to help her husband’s company, Oravida, after the Fonterra botulism scare, says New Zealand First Leader Rt Hon Winston Peters. More>>

ALSO:

With Conditions: Ruataniwha Consents Approved In Draft Decision

The Tukituki Catchment Proposal Board of Inquiry has granted 17 resource consents relating to the $265 million Ruataniwha Water Storage Scheme in a draft decision that would open more of the Hawke’s Bay to irrigation. More>>

ALSO:

Fast Lanes, Campervans: Labour 'Making The Holidays Easier For Kiwi Drivers'

The next Labour Government will make the holidays easier and journeys quicker for Kiwi families driving on the roads, says Labour Leader David Cunliffe. More>>

ALSO:

Gordon Campbell: On Royalty And Its Tourism Spin-Offs

Ultimately the Queen’s longevity has been one of her most significant accomplishments. A transition to Prince Charles while the monarchy was in the pits of public esteem in the mid to late 1990s would have been disastrous for the Royal Firm. Far more congenial representatives have now emerged... More>>

ALSO:

Privacy (Again): ACC Demands Excessive Privacy Waivers

Labour: “This is just another example of ACC under National deliberately acting to deny treatment and compensation... Those who did fill in the form have effectively been victims of yet another ACC privacy breach. This time Judith Collins knew it was happening..." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news