Business victims of Rena losing faith

Nevan Lancaster

Business owners wanting compensation for the effects of the Rena grounding are being worn down by the process, the Tauranga Business Action Group claims.

The group of 53 business owners, who lost more than $5 million in the summer of 2011, were hoping a mediation with the Rena's insurers in June would finally see them get compensation, Business Action Group spokesman Nevan Lancaster said. However, no business owner had yet been compensated for the losses suffered when the Rena struck the Astrolabe Reef in October 2011, he said.

"Not only are we out of pocket for lost business during the weeks of closure but we are still waiting for resolution. We have a mediation in June but the Rena's insurer is fighting all the way."

Mr Lancaster said small business owners had been held up by court proceedings and delays while the ship's owners and insurers argued they had little or no liability.

The two-and-a-half year wait for compensation had been wearing many business owners out.

All the businesses represented in the group had evidence of losses due to the oil spill in their annual accounts, Mr Lancaster said.