“Substantial and identifiable” test shoots down Lochinver Investors

The relevant Ministers under the Overseas Investment Act 2005 (the Act) recently declined consent to the NZ$88 million deal by Chinese owned Pure 100 Farm Ltd, to purchase Lochinver Station, near Taupo.  The decision was reached on the grounds that the purchase of Lochinver Station would not meet a “substantial and identifiable” benefit to New [...]