Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Councils Concerned as Vector Delays

The three Auckland Councils involved in Court action with the Auckland Energy Consumer Trust are very concerned that proceedings to clarify a proposed payout to consumers connected to Vector, have been unnecessarily delayed by the actions of the Trust’s company, Vector Limited.

“Vector has insisted on being involved in the proceeding. As a result, the hearing is delayed until April next year at the earliest. Vector has also indicated that it will oppose the production of documents that would show what the capital portion of the dividend in fact is. The information we want – what is income, and what is capital – shouldn’t be too difficult to provide. One is left wondering why we can’t get it,” says Mayor Chris Fletcher.

“We need the information so that Auckland’s legacy can be safeguarded. We want to hold onto a capital fund, for future investment in infrastructure.

Manukau City, Auckland City and Papakura District Council sought clarification about the nature of the $107 million distribution by the Trust to consumers connected to Vector. The Councils want to know what proportion of this distribution is capital (derived from asset sales) and which part is income – and therefore able to be given out to consumers. Under a section of the Trustee Act (1956), the Councils as “capital beneficiaries” are able to ask the Court for clarification. If it sees fit, the Court is able to restrain the distribution of money which is identified as “capital” so that this capital remains available to meet the future needs of Auckland for infrastructure.

When it looked like the distribution could go ahead without the Court having heard the matter, the Councils lodged an application for interim injunction to restrain distribution. The result of lodging the injunction was that the Court hearing date was brought forward to 2 December.

On Friday, Vector Limited, which is owned by the Auckland Energy Consumer Trust, stepped in and declared it had “an interest” in the matter. Previously, the matter had been solely between the Trust and the Councils. The company - supported by the Trust and by counsel for the income beneficiaries – argued that the clarification requested by Councils could affect their commercial decision making in the future. They asked for the matter to be delayed until next year.

“It’s ironic that it’s the Trust and Vector asking for a delay, since the Trust has been trying to push through payment without clarification. Now they’re delaying. We want the matter heard quickly, so that the income portion of the $107 million can be given out to consumers and the rest protected for Auckland’s future,” says Mayor Fletcher.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

KiwiBailed: KiwiBuild Head Officially Resigns

The head of Kiwibuild, Stephen Barclay has officially resigned from the role. In a statement issued on his behalf, it was announced that he would step down from today [Friday].

Housing Minister Phil Twyford's office said he would not be commenting on Mr Barclay's resignation as it was an employment matter. Last month, Mr Twyford confirmed that Mr Barclay had not been at work for a number of weeks. More>>


Welfare Stats: Rise In Hardship Numbers Shows Income Inadequacy

The latest Ministry of Social Development quarterly report show that a record number of people have received hardship assistance from work and income, with an additional 40,000 hardship payments made between September and December 2018, compared to the previous quarter of the same year... More>>


DHBs "Prepared": Junior Doctors Strike Again

The needs of acute patients will be met during tomorrow's junior doctor strike, a DHB spokesperson says... Almost 3000 junior doctors are expected to walk off the job, which will affect all DHBs apart from West Coast District Health Board. More>>


Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>


JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>


Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

Trainers: Taratahi Institute of Agriculture In Interim Liquidation

Taratahi employ 250 staff and this year has provided education to over 2500 students. Taratahi owns and manages 8 farms throughout the country. More>>


IPCA Report: Complaints About Deputy Commissioner Wallace Haumaha

The Authority has found that DC Haumaha acted improperly by approaching staff and others to provide information to support him to refute the allegations about his 2016 conduct, or solicited other staff to do so on his behalf... More>>





InfoPages News Channels