Flames leap from the ventilation shaft at the Pike River Mine after the November 2010 explosion. Photo / Mark Mitchell
New Zealand Oil and Gas shareholders voted yesterday not to pay reparation of $3.41 million to the Pike River families.
NZOG was the largest secured shareholder in the mine when the disaster occurred.
In July, Judge Jane Farish said the award was being made in spite of the Pike company's
parlous financial state, in the hope that the directors or shareholders might contribute.
But at New Zealand Oil and Gas's annual meeting yesterday, the vast majority of shareholders voted against the proposal.
A second motion, put by an individual shareholder, was also lost.
