Matauri Bay tribal land decision

A Far North Maori group in danger of losing its tribal land over a multi-million-dollar loan should learn its fate by next month.

Matauri X Corporation, which owns 500ha of tribal land at Matauri Bay in the Far North, is in danger of losing the land over a $2.5 million loan taken out to invest in a mineral water company.

The loan and investment was made without the approval of the corporation's shareholders.

The Maori Land Court is investigating the loan deal and the affairs of the corporation's committee of management at the time it entered into the deal.

The matter will go back before the court in Whangarei on December 3, when Judge Andrew Spencer is expected to receive the results of the inquiry and determine if anybody is at fault.