Maori trusts shot down in second attempt to appeal Crafar Farm sale

Wed, 17 Oct 2012

Oct. 17 (BusinessDesk) - The Supreme Court has rejected a second attempt by two Maori trusts to overturn the sale of the Crafar Farms to Chinese buyer Shanghai Pengxin. The Tiroa E and Te Hape B Trusts were part of a bidding group led by millionaire Michael Fay that was the under-bidder for the North Island farms being sold by receivers. The sale has been approved by the Overseas Investment Office and the Court of Appeal has already rejected an appeal by Fay and the trusts to buy the 16 properties. In the Supreme Court ruling today, Justice...

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