CDL & CDI ... Another Great Result

[BlackPeter]

well, some court action ..... somewhat out of the blue.

can't recall CDL having to vigorously defend anything before.

https://announcements.nzx.com/detail/379344

LOL - I assume (Winton - the applicant and a direct competitor to CDL) lost the deal and, being a bad looser tries now to reverse the deal by pi$$ing against the leg of the minister and the OIO for approving it.

There is a lot to say about businessmen who try to make business through the courts, but not a lot of it would be good.

Not sure though my money would be on the applicant , but I am sure another good day for the legal profession;

The judicial review action has been taken by the Applicant in relation to a
recent decision relating to CDLL's acquisition of land in Havelock North
which was advised to the market on 21 July and which has settled. The
Applicant is seeking, inter alia, an order setting aside the decision of the
Overseas Investment Office in respect of that approval and / or a declaration
that Ministers erred at law in making their decision to grant consent.

CDI and CDL Land are taking legal advice and will vigorously defend its
position insofar as it relates to the judicial review and the orders sought
by the Applicant. As the matter is now before the High Court, neither CDI nor
CDLL will be making any further comment at this stage.