New Zealand businesswoman May Wang was charged with corruption in Hong Kong late last year. Photo / Greg Bowker
The Overseas Investment Office has launched court action to force May Wang's company UBNZ to sell four Crafar dairy farms it bought without permission two years ago.
After being questioned on the matter in Parliament this afternoon by NZ First Leader Winston Peters, Land Information Minister Maurice Williamson made a
personal statement to the House.
He said initial Overseas Investment Office (OIO) efforts to force UBNZ to divest the farms were halted when it was notified by courts in Hong Kong that charges of corruption had been laid against Ms Wang and her business partner Jack Chen "and a stay had been put on those farms as they were assets involved in that court case".
However, that case had now finished and the stay removed.
"The Overseas Investment Office has decided to bring civil proceedings under section 47 of the Act to recover or to make those farms be down sold',' Mr Williamson said.
