December 18, 2016
Positive result for Tuwharetoa
The Tuwharetoa Settlement trust, which faced ruin four years ago after poor investment decisions by its initial trustees, has ended the year debt free and positive about the future.
Chair Rakeipoho Taiaroa says the trust, which administers Tuwharetoa’s share of the Central North island forestry settlement, is beginning to see daylight.
During the year it paid off all loans and increased its total net equity by 16 percent to $31.2 million.
He told Saturday’s annual meeting in Taupo the results show the trust has been getting good opportunities by working with other Tuwharetoa entities and central North Island iwi.
Because of its cash crisis, it invited other Tuwharetoa trusts into deals to buy crown properties, including the land beneath Taupo schools, the Taupo courthouse, and 8500 hectares of farm and forest land around Rangipo Prison.
Tuwharetoa Hapu Forum negotiators and the crown are close to a finalising Tuwharetoa comprehensive claims settlement, which will go out to the iwi for ratification.
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