Wednesday, 30 September 2020 13:59

Sale under scrutiny

Written by  Milking It

OPINION: The sale of one of New Zealand’s oldest dairy cooperatives will be in the spotlight this week.

The Government’s involvement in the decision to approve the sale of Westland Milk Products to Hong Kong Jingang Trade Holding Ltd, a company wholly owned by Chinese conglomerate Inner Mongolian Yili Industrial Group, will come under scrutiny in the High Court this week.

The hearing of Social Credit’s judicial review of last year’s Overseas Investment Office decision to approve the sale starts Monday.

Social Credit’s position is that the OIO applied the wrong legal test.

It wants Hong Kong Jingang’s consent to be declared to be unlawful and potentially invalid.

Milking It hopes the Westland executives who did the deal haven’t spent the big bonuses they got – they might have to give them back!

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