Arbitration Award Made

As previously disclosed, Windflow Technology Ltd provided NZ Windfarms Ltd with notice of arbitration in August 2012, in respect of maintenance fees due amounting to $366,000 plus GST for the part period until 19 October 2011, when NZ Windfarms took over maintenance obligations at Te Rere Hau wind farm.

 The matter was arbitrated by Robert Fisher QC who preferred Windflow’s method of calculation (pro rata to time).  As Windflow had already offset the claim against sums owing to NZ Windfarms for warranty liabilities, there are no present cash implications of the award.

 For further information: 

Geoff Henderson
CEO/Director
Ph 03 365 8960