Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Rotten Politics and Commercial Skulduggery

Rt Hon Winston Peters
New Zealand First Leader

29 November 2013

Rotten Politics and Commercial Skulduggery

New Zealand First has challenged the Government to come clean on whether it will liquidate Learning Media Limited (LML), which will put mum and dad investors seriously out of pocket by more than a million dollars, or give honest creditors an assurance that the Government will now act in good faith.

Rt Hon Winston Peters says the Government must confirm that it will not put pressure on Learning Media Limited, a State Owned Enterprise, to liquidate the company knowing full well that the liquidator, because of the Government’s past actions and now inactions, won’t have the money to settle with creditors.

“This is despite the Government arranging extra capital to pay out Westpac, a foreign owned bank, in full.

“The pathetic excuse from the Ministers of Finance and Education that Learning Media Ltd ‘is operationally independent from shareholding Ministers’ doesn’t stand scrutiny when:
• These two Ministers appointed the Media Learning Ltd Board.
• These two Ministers changed the contract rules under which Learning Media were operating to the SOEs serious detriment.
• These two Ministers then, in a sordid debt paying arrangement, agreed to raise the capital of LML so that one foreign owned creditor would be paid out in full.
• These two Ministers arrogantly refuse to explain this preference for one creditor over others.
• These two Ministers know the LML offer to settle a fraction of the debt to Anaro Investments screams cronyism when compared to Westpac.

“The Minister of Finance has written to Anaro Investments Limited, saying that ‘he is unable to assist’.

“This is a total cop out. He was able to assist Westpac to get their debt paid, so why is Anaro Investments, the landlord of LML different? Why is Westpac so influential on the Minister of Finance?

“Ministers English and Parata are 50% shareholders in Learning Media Limited. If they aren’t responsible then who is?

“Kiwi mum and dads deserve honest answers from this Government and they are not getting them.

“This is rotten politics and commercial skulduggery all in the same Ministerial package and should be exposed for being just that”, says Mr Peters.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ability to pick winners. Others would have looked at the dying remnants of the old Act Party and written it off. Yet National needed an MMP partner and it saw the potential where no-one else did. And so it re-grew the Act Party in a petri dish in Epsom, and carefully nurtured it back to life... More>>

 

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:

Poll: Labour On 46%, National 31%, While Greens And ACT Both On 8%

Tonight's political poll puts Labour on 46 percent and National on 31 percent with just one day remaining until election day. More>>

ALSO:


Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels