Oil tycoon contests judgment
PA Auckland The American oil tycoon, Nelson Bunker Hunt, sought yesterday in the Supreme Court at Auckland to set aside a foreign judgment registered against the multimillionaire’s New Zealand assets. His’ assets, including the Waikato Stud at Matamata, were frozen last year after, a judgment issued to the British Petroleum Exploration Company (Libya) was registered in New Zealand. The judgment, for almost $34 million, was obtained by BP in the High Court in England.
The litigation between the parties dates back to the nationalisation of western oil operation in Libya about seven years ago. Mr Justice Barker is being asked to set aside registration of the judgment against Mr Hunt’s New Zealand assets. His Honour reserved decision.
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Press, 27 February 1980, Page 3
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121Oil tycoon contests judgment Press, 27 February 1980, Page 3
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