The government has challenged iwi groups dissatisfied with the partial asset sales plan to file any legal challenge “sooner rather than later”.
Finance minister Bill English says the Cabinet’s decision to remove Mighty River Power from the State Owned Enterprises Act is the government’s first substantive step towards the sale.
An order-in-council is being prepared to be considered by the Cabinet next Tuesday.
Prime minister John Key has not ruled out the possibility of legal challenges and Mr English is confident any such challenge would neither hurt the value of Mighty River Power nor delay the float timetable of between March and June next year.
He says the government’s advice has been that people planning to challenge the sale need to do so when the Crown takes a step towards sales and that this week’s decision should send a clear signal the government is serious about the sales.
“If there’s going to be court action, we may as well get on with it and sort it out. We’re signalling we intend to proceed and anyone who wants the opportunity will have it within the next week to take court action.”
He says anyone who decides to take court action closer to the float date would be deemed by the court to be a nuisance rather than trying to solve the issues.
“If they take this action in the next week there’s no ambiguity about it and if claimants want a fair hearing, they should take action sooner rather than later.”
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Aussie Rich List – where are the Kiwis?
- NZ dollar falls with Aussie as Moody's China downgrade mulled, commodities weaken
- Watson’s Bendon finalises takeover of Naked
- MARKET CLOSE: NZ shares rise, led by F&P Healthcare, Sky TV; Ebos falls
- Top lawyer on gardening leave after 22 years at Russell McVeagh
Most listened to
- It’s "odd" StuffMe applicants are "so sensitive about anonymous submissions," says competition lawyer Andy Glenie
- Andrew Little, James Shaw, Steven Joyce and Bill English all weigh in on how good the budget was for Kiwi businesses
- Rob Hosking does not think it's good enough the Budget has left out reduced taxation on savings
- Lawyers are playing musical chairs in this week's Briefcase with John Bowie
- NBR Radio: best of the week ended May 26, with Grant Walker