4 Mar 2013

Maori Council monitoring promises to asset sale investors

6:04 am on 4 March 2013

The Maori Council says it will scrutinise the sale of shares in state assets after losing its bid to block partial privatisation of power companies.

The council and other claimants were defeated in their legal attempts to stop the sale of shares in hydro generators.

However they were buoyed by a section of a Supreme Court decision that said the Crown is bound to comply with the principles of the Treaty before deciding to float the shares.

A lawyer for the Maori Council Felix Geiringer says there'll be a close eye on what investors are being told.

He says promises made to the courts need to be made to share buyers and the council will be reading the prospectus with care.

Mr Geiringer says he wants to see an acknowledgement that the Crown is committed to resolving rights for Maori.