Tag Archives: Shanghai Pengxin

ILN Today Post

Overseas Investment in Crafar farm deal supported by Court of Appeal

The New Zealand Court of Appeal this morning released its much awaited decision in relation to the lastest challenge to Chinese company Shanghai Pengxin purchasing the Crafar farms.

It was accepted that Mr Zhaobai Jiang,  the principal shareholder, is a highly successful businessman with significant business experience.  The issue was his lack of dairy farming experience.  Dimissing the appeal, the Court found that the “investor test” had been met on the basis that Shanghai Pengxin was entitled to enter into arrangements with parties who had the lacked industry-specific experience in order to demonstrate that it in turn had the necessary experience to successfully promote the investment. More…

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