- Release Date: 12/12/13 10:54
- Summary: GENERAL: VCT: Vector to consider merits decision
- Price Sensitive: No
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VCT 12/12/2013 08:54 GENERAL REL: 0854 HRS Vector Limited GENERAL: VCT: Vector to consider merits decision Vector has received the High Court's judgment relating to the company's Merits Appeal. Vector Chief Executive Simon Mackenzie said the Court has allowed one of Vector's appeal points and an issue raised by the airport companies, but had dismissed all other appeals. "The Court has advised it did not agree with a number of elements of the Commerce Commission's reasoning process, however it did not believe the alternative approaches proposed by Vector and six other infrastructure companies passed what appears to be an exceptionally high hurdle that the Court considers must be achieved before the Commission's approach could be overturned. "Given this, the Government's recent announcement that it intends to review regulatory arrangements under the Commerce Act, together with the Productivity Commission's work around regulatory best practice, is both timely and welcome. "While the overall outcome is disappointing the judgment is extensive and we will take time to consider the implications of the decision before commenting further," said Mr Mackenzie. The decision can be viewed at: www.courtsofnz.govt.nz/cases/wellington-international-airport-ltd-ors-v-comme rce-commission -Ends- End CA:00245073 For:VCT Type:GENERAL Time:2013-12-12 08:54:07
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