For immediate release 23 February 2001
STATEMENT FROM NEW ZEALAND POST ON HIGH COURT JUDGEMENT
New Zealand Post Chief Executive Elmar Toime said the company appreciated the undertaking given by Mr Prebble not to
release any further information relating to the business case for the new bank until 5.00pm Monday.
“The case raises an important point of principle that a State Owned Enterprise operating in a competitive market must
have the ability to develop its commercial strategies in confidence.
“At no time has New Zealand Post sought to gag Mr Prebble or to prevent legitimate public policy debate regarding the
new bank.
“New Zealand Post’s concern has been the release of detailed commercial strategies that we will use to build the new
bank.
“New Zealand Post will consider the court’s judgement over the weekend, before making a decision on how to proceed.”
ENDS
For further information:
Simon Taylor, New Zealand Post Media Relations Manager
025 248 6715