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- Release Date: 09/07/12 10:30
- Summary: GENERAL: CNU: TelstraClear and Chorus announce TSO settlement
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CNU
09/07/2012 08:30
GENERAL
REL: 0830 HRS Chorus Limited (NS)
GENERAL: CNU: TelstraClear and Chorus announce TSO settlement
MEDIA STATEMENT
9 July 2012
TelstraClear and Chorus announce TSO settlement
TelstraClear and Chorus have agreed settlement terms covering claims in
respect of seven years of determinations under the previous
Telecommunications Service Obligation (TSO) regime.
As a result of a Supreme Court decision late last year, TelstraClear sought
partial repayments from Chorus in relation to TSO payments made for 2003/04
through to 2007/08 and a reduction in the payment for the outstanding 2008/09
and 2009/10 TSO years. Under the de-merger arrangements, Chorus has assumed
responsibility for any issues arising from the TSO litigation.
The settlement will bring about the full and final settlement of all claims
between TelstraClear, Chorus and Telecom on TSO-related issues arising out of
the Supreme Court decision.
The terms and amount of the settlement are confidential between the parties.
Chorus had an accounting provision for the potential liability at the time of
demerger. The parties have notified the Commerce Commission of the
settlement.
ENDS
Background
Under the Telecommunications Act 2001 the Commerce Commission made annual
determinations to calculate the cost of providing the TSO for local
residential calling.
As a result of the Supreme Court decision in Vodafone New Zealand Limited v
Telecom New Zealand Limited in 2011, TelstraClear made claims against Chorus
for partial repayment of some payments and a reduction in payment for its
share of the outstanding TSO financial years.
For further information:
Robin Kelly - Chorus
Mbl: 027 655 5139
Email: [email protected]
Gary Bowering - TelstraClear
Mbl: 029 772 3375
Email: [email protected]
End CA:00224738 For:CNU Type:GENERAL Time:2012-07-09 08:30:04
