A political party headquartered in Northland is seeking monetary and legal support to legally block the sale of financially embattled Westland Milk Products to a Chinese dairy giant.
Social Credit has to file an urgent injunction in the High Court by Wednesday this week, before the takeover of the Hokitika-based company on August 1 by Inner Mongolian Yili which is 25 per cent owned by the Chinese government.
The buyout deal is worth $588 million, including Asia's biggest dairy producer taking on Westland's debt and liabilities.
Whangārei-based Social Credit Leader Chris Leitch said there were a number of grounds his party was considering for the injunction but it didn't have the financial and legal resources to lodge an application before the takeover date of August 1.
The takeover, he said, would leave Fonterra as the only significant New Zealand-owned processor of milk products.