Tuesday, December 11, 2012

A victory for the Crown

Good news for the Government as the political year draws to a close. The Crown has won it's legal battle with the Maori Council over water ownership/rights. 

This is welcome news, about which we'll blog more later in the day; we're about to board a plane! We're looking forward to owning a small stake in Mighty River Power in 2013.

UPDATE: The Herald reports:

The High Court has ruled against the Maori Council's bid to delay the partial privatisation of Mighty River Power.
Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall welcomed the High Court's decision, saying it vindicated their view "that the partial sale of shares does not in any way affect the Crown's ability to recognise rights and interests in water, or to provide redress for genuine Treaty claims".
The Maori Council had argued that the Government should establish the extent of Maori ownership rights over freshwater and geothermal resources and make redress for them before the partial sale of Mighty River and other power companies under the Government's "mixed ownership model".
Mr Ryall said the Government's share offer programme remained on track.
"If the High Court decision is appealed, we hope this can be heard as soon as possible."


Camptown Racer said...

Good news for the Government as the shittiest of political years draws to a close.
Bad news for the country though, as Key's shameful attempt to flog off our assets gets a shot in the arm.

Anonymous said...

My wish is that the government plough ahead with the sale as quickly as possible in 2013. I am a very keen buyer of shares.