10 Jul 2009

Treelord settlement prunes balance sheet at Crown agency

8:58 am on 10 July 2009

The central North Island Treelord settlement has pruned the balance sheet of an agency that funds research and negotiation of forestry claims.

In its latest report, the Crown Forest Rental Trust says spending on claimants increased by 80% to $31 million in the year to March.

Waatea News reports $8 million of that went to CNI and Urewera claimants, who are sharing $280 million in accumulated forest rentals.

Chief executive Ben Dalton says the trust will run at a deficit in future, but it has the funding set aside to resource the remaining forestry claims.

He said the 20-year-old trust has waited a long time for an opportunity like the CNI settlement.