Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Shell appeals to Privy Council Gas Contract Case


29 October 2001
Media Statement
For Immediate Release

Shell appeals to Privy Council on Gas Contract Case

Shell New Zealand announced today that it had filed an appeal to the Privy Council against the Court of Appeal decision that Shell's Heads of Agreement with ECNZ, which were inherited by Genesis Power Limited, was unenforceable, Shell spokesman Simon King said.

"Unless there is a negotiated outcome to our satisfaction, our appeal is inevitable. We will be presenting to the Privy Council a very strong case that the agreement entered into by the parties, intending that it be binding, should be upheld.

"We are confident that the Privy Council will understand the realities of the commercial market place at the time, and that the Heads of Agreement documented a commercial deal done very quickly to seize a commercial opportunity for both parties,” Mr King said.

Shell will be offering no further comment on the appeal, Mr King said


© Scoop Media

Business Headlines | Sci-Tech Headlines


"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>