Scoop has an Ethical Paywall
TelstraClear and Chorus announce TSO settlement
MEDIA STATEMENT - 9 July 2012
TelstraClear and Chorus announce TSO settlement
TelstraClear and Chorus have agreed settlement terms covering claims in respect of seven years of determinations under the previous Telecommunications Service Obligation (TSO) regime.
As a result of a Supreme Court decision late last year, TelstraClear sought partial repayments from Chorus in relation to TSO payments made for 2003/04 through to 2007/08 and a reduction in the payment for the outstanding 2008/09 and 2009/10 TSO years. Under the demerger arrangements, Chorus has assumed responsibility for any issues arising from the TSO litigation.
The settlement will bring about the full and final settlement of all claims between TelstraClear, Chorus and Telecom on TSO-related issues arising out of the Supreme Court decision.
The terms and amount of the settlement are confidential between the parties. Chorus had an accounting provision for the potential liability at the time of demerger. The parties have notified the Commerce Commission of the settlement.
ENDS.
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
Earthquake Commission: Ivan Skinner Award Winner Inspired By Real-life Earthquake Experience
Reserve Bank: Consultation Opens On A Digital Currency For New Zealand
NIWA: Ship Anchors May Cause Extensive And Long-lasting Damage To The Seafloor, According To New Research
New Zealand Customs Service: A Step Forward For Simpler Trade Between New Zealand And Singapore
Horizon Research: 68% Say Make Banks Offer Fraud Protection
