Westpac NZ Becomes First Bank to Accept Zespri Shares as Lending Security
Westpac NZ has become the first New Zealand bank to receive approval from the Reserve Bank of New Zealand (RBNZ) to secure and leverage kiwifruit growers' Zespri shares.
Grower after grower stood up and attacked instigator and fellow orchardist Rob Thode, challenging his mandate to call a meeting, slamming his publicising of the event, lambasting the voting process, and alluding to him as a rat.
But despite those opening salvos, and a below expectation attendance of around 200, Thode's motions raising concerns over PSA-v and Zespri, received support, albeit far from unanimous (see table).
Thode says his aim was to give growers an opportunity to air views outside of the traditional Zespri dominated forums, but it was clear this was a meeting many in the tight-knit kiwifruit industry didn't want to occur and were keen to derail.
From the start KGI chairman Neil Trebilco ensured the meeting heard more than its fair share from the usual industry suspects.
He urged those present not to vote and repeatedly said the meeting was counterproductive to the industry's good.
He also defended Government's $25 million dollars' funding and championed the industry's work with the banks.
Thode told Rural News he believes there was a coordinated attempt by Zespri and Kiwifruit Growers Incorporated (KGI) to disrupt the meeting.
"Zespri and KGI attempted to hijack the meeting and influence people there but in terms of the vote outcome the people weren't swayed by what they said."
Only a couple of growers publicly questioned whether MAF and the government's response to the PSA outbreak has been sufficient but Thode's motion for a formal Commission of Inquiry into the PSA outbreak still received 70% support.
Thode says he is now trying to present vote results to Government but has had his request turned down by Prime Minister John Key and has not heard from Primary Industries Minister David Carter.
