22 November 2024

Marine Precinct sale process paused

Mayor Mahé Drysdale has advised that Tauranga City Council was served with judicial review proceedings last night relating to the Marine Precinct transaction.

The proceedings raise concerns about the Council’s processes. Injunction proceedings were filed at the same time.

The Council is currently assessing the documents to understand the nature of the claim.

In the meantime, the High Court granted an interim injunction at 8.20pm last night (21 November), which prevents the sale from being completed today.

Mayor Drysdale says the Council has requested information and legal advice. "This is of significant importance to our city and the Council will meet promptly to consider this matter, after it has had an opportunity to assess the claim and its advice."

The Council will meet at 1pm on Monday to discuss possible next steps. Given the sensitive legal and commercial nature of the information and advice to be considered, the meeting will not be open to the public.

The Council is not in a position to make any further comments in relation to the Marine Precinct sale at this time, as the matter is before the court.

Posted: 22 November 2024
Categories: News
Tags: City centre

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