Tuhoe forms trust for Treelords assets

The Tuhoe trust enables the iwi to take its share of the Central North Island 'Treelords' deal reached last year. Photo / Mark Mitchell

The North Island iwi Tuhoe has settled a new trust that in July will receive $66 million from its share of the $400 million "Treelords" deal - the Central North Island Forests Iwi Collective settlement.

Seven trustees signed the Tuhoe Establishment Trust deed at Waimako Marae in Waikaremoana, 67km northwest of Wairoa.

Tuhoe was required to establish a trust to receive its forestry assets.

The trust deed was endorsed during a series of hui this month.

Thirty-two marae supported the deed and three - Ngati Haka Patuheuheu, Waiohau; Tamakaimoana, Maungapohatu; and Tuhoe Potiki ki Rotorua, Mataatua Marae - opposed it.

Two marae abstained.

The establishment trustees are Tamati Kruger, Tamati Cairns, Aubrey Temara, Karauria Tihi, Cliff Akuhata, Rongonui Tahi and Lance Winitana.

The trustees will remain in place until the trust's second annual meeting, in 2011, when a revised deed for consideration will be presented.

The cash is made up of $63 million in backdated forest rentals to last June and rent of $3.1 million for the year to June 30 this year.

The income is based on the settlement reached last year between the Government and iwi on claims to central North Island forests - referred to as Treelords.

The Tuhoe deed has been prepared in a way that enables the possible future acquisition of fisheries assets from the Tuhoe Fisheries Charitable Trust and land and other assets worth $30 million from the Tuhoe Waikaremoana Maori Trust Board.

- NZPA