The announcement of the result by Eastern Bay Energy Trust's poll of consumers on its takeover offer for Horizon Energy Distribution has been delayed by an interim injunction taken out by a Maori trust.Trustees of Te Mana O Ngati Rangitihi Trust, based in
The announcement of the result by Eastern Bay Energy Trust's poll of consumers on its takeover offer for Horizon Energy Distribution has been delayed by an interim injunction taken out by a Maori trust.
Trustees of Te Mana O Ngati Rangitihi Trust, based in Matata, sought an interim injunction seeking to prevent the counting of votes in the poll, which closed at noon today.
Te Mana O Ngati Rangatihi Trust claims that the information sent out with the poll documents was inadequate. The Eastern Bay Energy Trust disagrees.
The court referred the matter to a hearing in the High Court in Auckland on February 10. In the meantime, the results of the poll cannot be made public.
The Eastern Bay Energy Trust owns 77.3% of Horizon and is trying to move to full ownership.
The poll of consumers, who are beneficiaries, was required under the trust's deed.
