Friday, 06 November 2020 10:19

Long-running Pokeno land battle over

Written by 

A long-running legal battle between milk processor Synlait and New Zealand Industrial Park Limited over historic land covenants on a Pokeno processing site is over.

 

Synlait has announced that it has reached an agreement with NZ Industrial Park and its owner Karl Ye.

Further details of the settlement agreement will not be disclosed due to confidentiality, but the Canterbury processor says the settlement price was reasonable and not material to Synlait.

“Synlait and New Zealand Industrial Park are committed to working collaboratively for the benefit and integration of the Pokeno community and are pleased to have this behind us,” says Synlait chief executive Leon Clement.

“We are also pleased to provide certainty for Synlait’s shareholders, customers, farmer suppliers and staff.”

In February last year, Synlait announced the conditional purchase of 28 hectares of land in Pokeno to establish its second nutritional powder manufacturing site. 

In November, the High Court removed covenants over the land which would hinder Synlait's development of the land. Synlait then took ownership of the land.

In May 2019, the Court of Appeal overturned the High Court decision to remove historic covenants. Synlait then filed an appeal in the Supreme Court.

Synlait says the Supreme Court has been informed that a settlement has been reached.

More like this

Synlait's back

OPINION: After years of financial turmoil, Canterbury milk processor Synlait is now back in business.

Wyeth to head Synlait

Former Westland Milk boss Richard Wyeth is taking over as chief executive of Canterbury milk processor Synlait from May 19.

Synlait sweetens milk supply deal

Canterbury milk processor Synlait is confident of retaining its farmer supplier base following a turnaround in its financial performance.

Featured

EU regulations unfairly threaten $200m exports

A European Union regulation ensuring that the products its citizens consume do not contribute to deforestation or forest degradation worldwide threatens $200m of New Zealand beef and leather exports.

Bionic Plus back on vet clinic shelves

A long-acting, controlled- release capsule designed to protect ewes from internal parasites during the lambing period is back on the market following a comprehensive reassessment.

Editorial: Winston's words of wisdom

OPINION: Foreign policy is a real strength of Winston Peter and this is recognised by Ministry for Foreign Affairs and Trade (MFAT) officials who, so the story goes, wanted him in his present role because of his experience in that field.

National

Top ag scientist to advise PM

A highly experienced agricultural scientist with specialist knowledge of the dairy sector is the Prime Minister's new Chief Science Advisor.

Machinery & Products

Hose runner saves time and effort

Rakaia-based equipment manufacturer Pluck’s Engineering will soon start production of a new machine designed to simplify the deployment and retrieval…

» Latest Print Issues Online

Milking It

Science fiction

OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the…

Bye bye Paris?

OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter