Thursday, 14 March 2019 08:57

Toxic loan?

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More questions are being asked about the Government’s contentious $10 million loan to Westland.

It was revealed this month that the Treasury argued against the Government lending Westland Milk Products $9.9 million but its advice was ignored. One reason the Treasury was against the loan was because Westland was having problems obtaining a loan from its bank on acceptable terms and the Government would then be acting as a lender of last resort.

The money had not been handed over as contract negotiations were continuing.

 

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