Little-known political party Social Credit has been seeking financial and legal support to lodge an urgent injunction to prevent the takeover of Westland Milk by the Chinese conglomerate Inner Mongolian Yili.
Party Leader Chris Leitch says the party and its lawyers are considering several grounds but have decided not to contest the scheme of arrangement or the High Court decision to approve it. The legal team are now focussing on the Overseas Investment Office decision.
Yili executives arrived in New Zealand last week, their first visit since the takeover received the final green light from the High Court.
