Suncorp NZ paid out $107 million in natural hazards claims last financial year.
Colin Cook, great-grandson of Moondah's founder, James Grice, says the property needs to be maintained to stop it falling into disrepair and Ryman will do that.
Parliament's chief financial and organisational scrutineer is concerned the new water service entities will be less accountable both to their communities and to Parliament than the arrangements in place today.
The plan includes refinancing the company back to solvency.
Infrastructure Editor
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articles by Oliver