While it appears the receivers have a view on their value which is based on what cashed up international investors are prepared to talk about, protecting the interests of foreign owned bankers who lent Crafars far too much should not be a consideration for Bill English when he makes this decision.
I’ve banged on before about how Landcorp should buy, develop and on sell the farms, preferably with a NZ ownership caveat on the title and to a sharemilker.
The proposed sale of the Crafar farms to Chinese interests is an important national issue.
Such a sale will establish an important precedent because China has enormous savings and foreign exchange reserves that could be used to buy large tracts of New Zealand farmland.
Based on the experience of the forestry industry, which is now mostly overseas-owned, this would not be in New Zealand’s best economic interest.