Pengxin welcomes Court’s rejection of Fay, Maori trust attempt to block Crafar sale

Tue, 07 Aug 2012

Aug. 8 (BusinessDesk) - Shanghai Pengxin has welcomed a decision by the Court of Appeal to reject an attempt by Michael Fay and two Maori trusts to block the sale of the Crafar farms, saying it can now proceed with a programme of improvements for the properties. Fay and the trusts had sought a judicial review of the Minister for Land Information and Minister of Finance's approval of the sale, arguing that Pengxin hadn’t demonstrated it had enough business experience. Pengxin plans to have state-owned Landcorp manage the properties. “Our imme...

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