In a matter of days… not nine months?!
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The Crafar Saga; a time-line on the sale process,
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5 October 2009: Crafar Farms placed into receivership, owing $216 million to creditors.
22 December 2010: Government blocks bid by Natural Dairy to buy the 16 Crafar farms on ‘good character’ grounds.
27 January 2011: KordaMentha accepts offer from Shanghai Pengxin International Group Ltd to buy Crafar Farms.
13 April 2011: Shanghai Pengxin lodges application with the Overseas Investment Office (OIO) to buy the Crafar farms.
26 September 2011: Crafar farms receiver KordaMentha rejects a conditional NZ$171.5 million offer for 16 central North Island dairy farms from a group led by controversial former merchant banker Michael Fay.
26 November 2011: Parliamentary Election
27 January 2012: Government ministers approve Shanghai Pengxin’s application to purchase 16 Crafar farms.
15 February 2012: High Court over-rules Government’s decision consenting to Shanghai Pengxin’s application to purchase
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“The OIO spent nine months assessing the Pengxin bid, which is reported to have valued the farms at $210 million, some $40 million higher than the bid by a consortium of New Zealand bidders led by merchant banker Michael Fay.” – Source
“We don’t have a clear timeframe for this process but expect to receive the resubmitted recommendation report from the Overseas Investment Office in a matter of days, not weeks.” - Mr Williamson, Ibid
Interesting…
It took nine months for the OIO (Overseas Investment Office) to report their decision to Ministers Williamson and Coleman, for their rubber stamp approval…
But Minister Williamson now reckons it will only a matter of days to receive the resubmitted recommendation report from the Overseas Investment Office?!?!
… and this is the government that swears, hand-on-heart, that the extraordinary delay (applications normally take 50 – 70 days to process – not nine months) in processing and approving the Crafar purchase by Shanghai Pengxin, had nothing to do with the November election?!?!
The only thing worse than lying politicians?
Politicians who don’t lie very convincingly.
What a shabby, shonkey, shameful government we elected last year.
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Completely agree…and worry for New Zealand that so many people don’t appear to have any problems with voting for a shabby, shonky, johnkey government.
We aren’t the un-corrupt country we would have the world think we are.
I wonder what “donations” Key is getting for “services rendered”? Someone is getting an incentive for selling us to the Yanks and Chinese.