The receivers of the Central North Island Forestry Partnership are battling with the Inland Revenue Department to get back $127.5 million of good and services tax they claim was paid by mistake.
The receivers are Michael Stiassny and Grant Graham of Ferrier Hodgson, which is now called Korda Mentha.
The National Business Review is reporting that the complex dispute over GST is being heard in the High Court at Auckland and IRD is opposing the action and arguing to have it struck out.
The partnership owned cutting rights to huge forests in the central North Island, once developed by the state, including Kaingaroa Forest. It was placed in receivership in 2001 and was later sold by the receivers.
