Tuesday 23rd October 2012 |
Text too small? |
The government has delayed removing Mighty River Power from the State Owned Enterprises Act after the High Court granted an urgent hearing for the Maori Council's application for a judicial review of the government's plan to sell down the company.
"This doesn't affect the timing of the Mighty River Power float, which remains a priority for the government," English said in a statement.
Still, the government has opted to defer removing the power company from the schedule of companies listed in the State-Owned Enterprises Act "now that proceedings are filed and a fixture on the substantive issue has been allocated," he said.
The government is betting the courts won't find in favour of the council, which argues that Maori's rights to waterways must be considered before state assets can be sold, especially those in the SOE Act which includes reference to the Treaty of Waitangi.
The High Court has set a hearing for the week of Nov. 26 in relation to the judicial review.
BusinessDesk.co.nz
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report