The Ministry of Business, Innovation and Employment has settled its dispute with Emirates Team New Zealand over the use of public money
The Ministry of Business, Innovation and Employment has settled its dispute with Emirates Team New Zealand over the use of public money
22 December 2020
MBIE's announced it met with ETNZ and America's Cup Events today.
The parties have agreed there was 'reasonable basis' for the differing views.
The dispute arose after an audit prompted by allegations of 'financial impropriety' and misappropriation of funds.
This was investigated and found to be wrong.
MBIE is satisfied the Crown's investment into the event has been - or will be - properly incurred by ACE.
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