In my opinion our Chair must now act decisively because
(A) Te Kauhanganui Parliament its members and Te Arataura the sub-committee executives are so intrinsically linked with the business and affairs of Waikato-Tainui Incorp and
(B) the annual financial report for the purpose of preserving the interests of Waikato-Tainui beneficiaries has not been declared/made available – enabling the affairs of Te Kauhanganui Incorp to be dealt with in a orderly manner.
I therefore, propose the following recommendations to deal with our current situation commensurate with the exit strategy discussed previously! Both options before us are designed to operate with minimal involvement from the High Court (final option).
- Statutory management – appointment of an external manager (interim) to oversee the affairs of its executive arm Te Arataura A statutory manager will exercise wide powers to resolve the difficulties currently faced by our Incorporation well into the future by applying a wide reaching moratorium – without the need for a members vote.
- Voluntary administrator (interim) – appointed privately by Te Kauhanganui to maintain control over the affairs of Te Arataura ensuring a better return to its beneficiaries. Voluntary administrators play dual roles to facilitate a meeting of all parties and to investigate the business. (A) The administrator will facilitate the best way forward for the future course of Waikato-Tainui and (B) hold a watershed meeting so Te Kauhanganui can resolve whether it’s in their best interests to enter into a deed arrangement.
Big thanks to Whanau Observer for the wonderful feedback!