Thursday, 14 March 2019 08:57

Toxic loan?

Written by 

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.

 

More like this

Ironic end to champion co-op

Westland Milk Products’ sale to Chinese interests is an ironic end to the co-op, which last August was named New Zealand’s 2018 Cooperative Business of the Year.

They knew the terms – Chairman

Westland chair Pete Morrison has reiterated the terms under which protesting former suppliers had surrendered their shares that they say are worth millions.

Ex-Westland suppliers seek OIO help

A group of former suppliers of Westland Milk Products has formally asked the Overseas Investment Office to block or delay the sale to Yili.

Westland bonuses defended

Westland Milk Products’ board chair, Pete Morrison has defended bonus payments to chief executive Toni Brendish and other top executives, criticised as having conflicts of interest.

 
 

» The RNG Weather Report

» Latest Print Issues Online

Milking It

No tea, we’re vegan

UK vegans are demanding a law change to ban discrimination against plant-based eaters in workplaces.

Fake cows

Even more fibreglass cows may join those seen ‘grazing’ Morrinsville streets for four years.

» Connect with Dairy News