Leader Winston Peters, who has been a vocal opponent of the deal, is now calling on the Overseas Investment Office to suspend deliberations until the complaints are dealt with.
Silver Fern Farms is awaiting regulatory approval from the OIO and was hoping for the announcement of a positive decision either this month or next month.
A capital-raising process culminated with a vote in October last year, when Silver Fern Farms shareholders overwhelmingly voted in favour of selling a 50% stake to Shanghai Maling. Shareholders of Shanghai Maling later also overwhelmingly endorsed the venture.
While he would not go into details, Mr Peters said the complaint to the FMA related to the Silver Fern Farms notice of meeting and shareholder information pack issued in September.
The other complaint related to ‘‘some highly creative interpretations'' of New Zealand companies law which, if left unchallenged, would ‘‘seriously compromise'' shareholder protection, he said in a statement.
Copies of the complaints were also being forwarded to the OIO, the Takeovers Panel and the Commerce Commission.
It was ‘‘unthinkable'' the OIO would give the green light to the application because the complaints related to the sale itself, Mr Peters said.
‘‘The issues we highlight are highly serious, with implications well beyond Silver Fern Farms,'' he said.
In response, Silver Fern Farms said the proposed investment by Shanghai Maling was approved by Silver Fern Farms Ltd and its shareholders in compliance with all relevant laws, regulations and the company's constitution.
The board took extensive external legal and financial advice throughout the process. All qualifying shareholders were entitled to vote, there was a ‘‘significant and representative'' turnout, and 82% of votes cast at the meeting supported the proposal.
