Sir Hepi denies land offered as collateral
PA Wellington The chairman of the national Federation of Maori Authorities, a Maori elder, Sir Hepi Te Heuheu, said yesterday that the federation was not involved in any way with the $6OO million Maori Affairs loan.
Sir Hepi was responding to reports that Maori land was to be offered as collateral for the $6OO million loan and that the proposal to use Maori land in this way came from the Federation of Maori Authorities.
The Opposition spokesman on Maori Affairs, Mr Winston Peters, said yesterday that Maori land throughout New Zealand had been offered as security for the loan, and Television New Zealand reported that the proposal came from the federation, the “Evening Post” said. 1'
Sir Hepi said the federation was not in a position to offer land as collateral for the loan and had not contemplated recommending such an action to its membership. Maori authorities that administered land were autonomous and independent bodies, he said, and the federation could not commit any authority’s assets as security or collateral for loans. The federation was formed in Rotorua in August to bring together the business and political interests of members, to provide a well organised Maori economic-based lobby and a single, unified Maori voice in Maori economic affairs, said the interim secretary, Mr Stephen Asher. There are 170 Maori land incorporations in New Zealand. The
ing Post” approached the interim chairman of the large Wakatu Incorporation, Mr Steve Marshall, to find out if he knew of plans to offer Maori-land as collateral. “ The South Island Wakatu Incorporation is believed to have a capital base of about $5O million but is not a federation member. Mr Marshall, who is also director of advocacy for the Employers’ Federation, said there had been no approach to Wakatu over the use of its land assets as collateral for the loan. Such a matter would have to go to the shareholders before a decision was made if there were an approach, Mr Marshall said, and he had a feeling that the board would be “loath to get involved in that sort of
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Press, 24 December 1986, Page 5
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354Sir Hepi denies land offered as collateral Press, 24 December 1986, Page 5
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