Wednesday, September 21, 2011


Sir Micheal Fay, as spokesman/leader of a consortium, including Dairy farm owners, Iwi and himself, bidding for the valuable carcass of the Crafar empire in receivership, is playing a very tactical game.

The receivers have already accepted an offer from a Chinese group going by the name of Pengxin early this year and it only requires OIO sanction to proceed. That application was lodged in April and there is not a snowball chance in hell it will be revealed before November 26th as after it clears OIO, if it does, it goes to the Minister of Finance for final sign off.

The good Knight and his followers have just upped their bid as a back up offer to include all 16 farms (only 9 in the earlier offer) but are reported to be somewhat lower in the cash component. However they are playing the xenophobia card by claiming the moral highground with their NZ based component. I find that just a little rich from the Knight who scuttled off to Europe with his millions acquired in the great asset sales of Mr Goff and his now invisible grubby little coterie of charlatans, presently bashing the Nats over the head for selling the "family silver" that is in fact the cheaper "plate" cutlery and is only to be offered as a minority share sale.

Sir Michael and his new Brown mates with enough actual dairy farm operators to give it credibility need to match the Pengxin bid or better it if they want to make the desired impression on the receivers whose central responsibility is to maximise the return for their principals.
However my very sketchy knowledge of receivership law allied with a reasonable understanding, if a little historical, of commercial sales law says their cause will only succeed if enough pressure can be brought to bear politically and that would be a total disaster for our nations reputation in international law, commerce and finance.

Sir Michael and your new mates leave the X card in the deck and "put up and/or shutup"


Anonymous said...

you are so right when it comes to selling off the silverware... that stuff was given to Minority of the population in what would be hoped to be the final full and final settlement figure. Although the way the warmists in the local councils are going about things, there will be a whole heap more claims in train against councils for minimising the right to subdivide low lying portions of land for economic benefit.

Sir Mick is nothing if not a shrewd bugger, he wants the opportunty to pay 80% of the going offer to aquire the properties, and thinks that the Govt's own penchant for rewarding the descendants of mass murderers will play favourably into his own pocketbook

kevin said...

On Close-Up last night it seemed that Maori were putting in 30%, Fay 20% with rest being borrowed (from a Fay banking entity maybe?). So, (possible)capital gain and banking business for Fay? That will make one winner anyway.

baxter said...

Don't know who I would trust least FAY,the Maoris, or the Chinese.

Anonymous said...

Trust Fay the least because he has a veneer of civility.

gravedodger said...

Been traveling all day, left Hawkes Bay at 0700 to ride the non stop to CHC and saw a headline somewhere that Fay will break up the assets. Gee that would be a surprise wouldn't it and he won't give a monkeys orgasm who buys the bits.
Chinee, Allutian, Korean, Koranian or a bloody Afgahn Rughead so long as ole money grubber gets his whack, and he sing songs about keeping it for New Zealanders.
Who is he think he is fooling this time.