Brookfields
Added: Feb 22, 2012
Ministers directed to reconsider decision to approve sale of Crafar Farms
The High Court has ruled that the decision to approve the sale of 16 North Island farms to an overseas buyer should be set aside and that the relevant Ministers must reconsider their decision. The court's ruling appears to create a higher threshold for overseas buyers who wish to invest in New Zealand farm land by applying a different test for assessing economic benefits of proposals to that applied to date by the Overseas Investment Office (OIO).