The court gives Maori claimants a small bone by rejecting findings last year in the High Court that the cabinet decision to sell a stake in MRP could not be judicially reviewed.
While up to $10 million is significant, the government does not want to risk losing more if the issues around Maori claims to water rights are resolved when the float occurs.
"So much for a full and final Treaty settlement – unbelievable."
Up to 250,000 retail investor applications are expected for each of the power company sell-downs.
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