Since 2010 the trust had lost $19 million in assets and was today in considerable debt, and the Mapuna Atea property was sold in February to Taranaki buyers despite Ngati Kahungunu ki Wairarapa attempts since the late 1990s to reclaim the land.
About 50 iwi members had occupied the land in April in protest against the sale and a gathering of members was told at a meeting in Masterton last week the Taranaki-based new owners were happy to sell the farm back to the Ngati Kahungunu ki Wairarapa iwi.
Ian Perry, Ngati Kahungunu ki Wairarapa Tamaki-nui-a-Rua Treaty Claimants Trust, earlier said the new owners had been keen to negotiate a buy-back. They had been unaware of the history of the land until told of the protest.
Iwi members at the meeting in Masterton last week also gave their approval by vote for the Crown to buy Mapuna Atea farm as part of the Tiriti o Waitangi settlement for Ngati Kahungunu ki Wairarapa Tamaki-nui-a Rua, according to a Maori Television report.
Crown representatives meet the new owners of Mapuna Atea farm next week to negotiate the buying back of the property.