February 03, 2016
Fox points to elephant in room
The chief executive of the Port Nicholson Block Settlement Trust says court suppression orders are hampering its ability to put the case for the sale of its largest asset.
Auckland-based Taranaki Whanui members will this evening hear why the tribe needs to sell the former air force base at Shelly Bay on Wellington's Miramar Peninsula, which the trust bought in 2009 for $15 million.
Jason Fox says the deal on the table will give it a premium on the current valuation, which is lower than the purchase price, as well as a share of development profits and the right to protect cultural names.
But there's opposition led by former trustees.
Mr Fox says members need to distinguish between the current board and the old regime, which was responsible for some decisions which are now under investigation by the Serious Fraud Office.
"We've been waiting for the courts to make a decision on that for three years, and it's been hampered by name suppression. Now some of the commercial realities we have, we can't wait any longer for them to resolve that and provide those facts and information that we can then provide back to members.That's hampering our cause and some of the protesters may or may not know some of that information and that would be very useful for them to get a balanced view," he says.
The hui at Te Manukanuka o Hoturoa Marae beside Auckland Airport starts at 6pm.
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