BNZ tax case decision due - NAB on trading halt

The National Australia Bank has been placed on a trading halt in both New Zealand and Australia.

It is understood the halt relates to the pending release of a decision from the New Zealand High Court on a tax avoidance case involving tax and interest charges of more than $640 million.

The first of several cases involving similar structured finance arrangements, the case wound up in Wellington a month ago before Justice John Wild, with a new case based on similar issues now running in the High Court in Auckland.

Bank of New Zealand is a subsidiary of NAB, and the tax arrangements involved were only available to be exploited by foreign owned banks operating in New Zealand.

Businesswire.co.nz

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

July 8th Morning Report
SUM - 2Q26 Metrics - Sales of Occupation Rights
BPG - Q1 FY27 Investor Webinar
KPG - Changes to the Executive Team
BRW - Scheme of Arrangement - Largest Shareholder Intention
FRW - Board update
THL - BGH Consortium confidentiality agreement executed
MEL - Meridian receives final approval on contingent storage
July 3rd Morning Report
KMD Brands completes share consolidation