7 Apr 2016

NZ Pacific Business Trust denies it's being wound up

7:33 pm on 7 April 2016

The head of New Zealand's Pacific Business Trust has angrily denied that it is being wound up.

Labour's Pacific spokesperson, Su'a William Sio, said in a statement that the organisation was being put into liquidation, with its assets being sold off.

He said the Pacific Peoples minister needed to explain what was happening to an iconic body is tasked with growing Pacific businesses in New Zealand.

But the chair of the trust, Fa'amatuainu Tino Pereira, said the liquidation claim was rubbish.

He said changes were coming, but he would not say exactly what they would be.

"We have decided to take a different tack, we have decided to change direction, we have decided to change our focus. That is what we have done.

"The mechanics of how we are doing that is exactly what we are doing at the moment, we are discussing it, we are putting it front of our staff," Fa'amatuainu said.