MCK: Copthorne Hotel & Resort Bay of Islands lease update

MKTUPDTE

Fri, Apr 23 2021 08:43 am

UPDATE ON INJUNCTION PROCEEDINGS AGAINST WAITANGI NATIONAL TRUST BOARD IN RELATION TO THE LEASE OF THE COPTHORNE HOTEL & RESORT BAY OF ISLANDS

Further to its statement on 16 April, MCK can advise that the Waitangi National Trust Board, through its solicitors, have provided an undertaking to the High Court at Whangarei that the Trust Board will not take any steps pending agreement between the parties, an order of the High Court or thirty days after the substantive dispute is resolved (including any rights of appeal).

Matters relating to the renewal will now be referred to arbitration if they cannot be resolved by agreement. MCK will not make any further comment until the issue is resolved or the outcome of the arbitration is known.

-ENDS-

Issued by Millennium & Copthorne Hotels New Zealand Limited