Marlborough Lines completed its takeover of the wine company, paying an entity controlled by Peter Yealands almost $23m for his remaining stake. The trustees of Marlborough Electric Power Trust - the owner of Marlborough Lines - are facing court action from local business adviser, David Taylor, who says he represents a wider consumer group. In mid-2018, Marlborough Lines completed the takeover, paying an entity controlled by Peter Yealands almost $23m for his remaining stake. Hints as to Yealand's performance were contained in the Marlborough Lines statement of corporate intent, which was released at the start of November. David Dew, chairman of Marlborough Lines confirmed the loan and dividend expectations, but declined to answer questions about Yealands' performance.

Source: New Zealand Herald November 29, 2020 15:56 UTC