Sharechat Logo

Sanford Limited (NZX: SAN) Further Update on San Waitaki Ruling

Tuesday 23rd February 2021

Text too small?

Sanford Limited wishes to advise that it has received today the judgement of Judge S J O’Driscoll in the Christchurch District Court in the case of Ministry for Primary Industries v Walker, Lash and Sanford Limited.

Sanford accepts the decision of the court and has expressed its deep regret for the incident, which was entirely unintentional.

The judge has handed down a $36,000 fine for Sanford and has confirmed the forfeiture of the San Waitaki. Sanford will be making an application for relief from forfeiture and, based on legal advice, it is optimistic it will be granted without reaching materiality thresholds. We will work constructively to expeditiously address the matter of forfeiture. In the meantime, Sanford will work with MPI to ensure the vessel remains operational until the matter is resolved.

Benthic protection areas (BPA) are areas of seabed in New Zealand where some fishing activity is illegal. Sanford supported the introduction of these areas in New Zealand and, despite the mistakes which led to this case, we respect these areas and are advocates for marine protection.

Please see the link below for details:

San Waitaki ruling, judgement

Source: Sanford Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Good Spirits Hospitality Limited (NZX: GSH) Half Year Results to 31 Dec 2020
NZ Automotive Investments Limited (NZX: NZA) FY21 Earnings Guidance
T&G Global Limited (NZX: TGG) 2020 Full Year Results
Vista Group International Limited (NZX: VGL) Vista Group in the Box Seat for the Future of Movies
Private Land and Property Fund (NZX: PLP) Change in Harvest Estimates
Allied Farmers Limited (NZX: ALF) FY21 Half Year Report
New Zealand Rural Land Company Limited (NZX: NZL) Interim Report to 31 December 2020
Seeka Limited (NZX: SEK) Announces its 31 December 2020 Result
Evolve Education Group Limited (NZX: EVO) Announces Results for Year Ended 31 December 2020
Port of Tauranga Limited (NZX: POT) Reports Improved Profits

IRG See IRG research reports