Māori Court Dismisses Appeal for Investigation into Investment Loss

A Māori Land Court judge has dismissed a request from shareholders of **Mangatu Blocks Incorporation** seeking an investigation into the entity’s significant overseas investment losses. The ruling, delivered by **Judge Nathan Milner**, stated that the applicants failed to demonstrate the necessary support from at least **10%** of shareholders to warrant the court’s jurisdiction for an investigation.

In a decision released earlier this month, Judge Milner emphasized the lack of sufficient evidence presented by the shareholders. This dismissal affects ongoing concerns regarding the financial management of the incorporation, which is based in **Tairāwhiti**. The shareholders involved in the application, however, have expressed their intention to appeal the decision, indicating their determination to seek accountability regarding the multimillion-dollar losses.

Alan Haronga, chairman of the Mangatu committee of management, previously stated that the incorporation aims to “be guardians of our ancestral lands and optimise resources to create a sustainable future for our people.” This mission underscores the importance of the financial stability and transparency of the incorporation, pivotal for the community it serves.

Despite the court’s ruling, the shareholders maintain that the losses necessitate further scrutiny. The appeal process could potentially bring renewed attention to the financial practices of Mangatu Blocks Incorporation and the implications for the shareholders involved.

As the situation develops, stakeholders and community members will be watching closely to see how the appeal unfolds and what measures may be taken to address the concerns raised by the shareholders. The outcome could have significant ramifications for the management and future operations of Mangatu Blocks Incorporation.