A bond of $36 million is being sought by the Bay of Plenty Regional Council as part of a draft resource consent to leave the wreck of the Rena on Astrolabe Reef.
Council's financial demands are contained in a draft consent filed on October 8 – the second-to-last day of the Rena resource consent hearing.
The bond is being sought by the Bay of Plenty Regional Council. Photo: File.
The conditions contained in Memo XXIV (24), will only be required in the event of consent being granted, says panel chairman and retired environment court judge Gordon Whiting.
'In order to adequately assess adverse effects, we need to know what the resource consent conditions would be to avoid, remedy or mitigate any adverse effects,” says Gordon.
Parties involved in the hearing have been given until October 23 to comment on the proposed conditions of consent.
Council want the $36 million to be included in a letter of undertaking from Rena insurer The Swedish Club.
The funds would cover any future contingency measures relating to the removal of the bow pieces of the wreck.
In addition to the $36 million, council also want the insurer to post and maintain a bond in their favour of of $6.2 million, for a period up to ten years after expiry of the consents.
The bond is to ensure compliance with the conditions in the draft consent, which include monitoring plans and remedying any environmental affects that may arise during its ten-year term.
Other restoration and mitigation funds required by council include $1.5 million for the Motiti Island community, to provide the establishment of projects aimed at benefiting the island's community.
6 comments
Stupidity!
Posted on 19-10-2015 16:16 | By DAD
Just make them take it away!
PEOPLE IN GLASSHOUSES***
Posted on 19-10-2015 17:06 | By ROCCO
Fair enough to have a contestable bond lodged for $6.2million but it is absurd for the Council or the Panel to require an additional bond for $36m .If I were the Rena owners or its insurer I would wash my hands of these tossers and walk away until they came to their senses.Let us just remember the Port in which the Bay Regional Council has substantial shares must bear some responsibility for the initial adverse environmental effects because it did not have suitable vessels on tap to expeditiously mitigate the effects of the any grounding and lets not even start on the topic of the delays in getting A's into G's.for openers.
Current Photo
Posted on 19-10-2015 22:31 | By trevorm
Is that a current photo of the state of the Rena? I understood that all the superstructure above the low water line had been removed. The photo used gives the impression that there are still parts of the ship (including containers) above the water line. It would be good to know the reality of the situation.
money money money
Posted on 20-10-2015 08:16 | By Lone Star
If I were them I'd walk away
IT's A PROPAGANDA PHOTO
Posted on 20-10-2015 09:17 | By kellbell
@trevorm Rest assured all the Rena superstructure is at least 30metres below the surface and apart from some instability in the bow section which will probably eventually fall off on to the ocean floor it is stuck firmly on the Astrolabe Reef.The wreck poses no risk to navigation or to anything else currently.Photos like this taken years ago are pure spindoctoring trying to make the state of play something which it is not otherwise you would just see a photo of the water and that would not disturb you at all!!!!!
rena
Posted on 20-10-2015 14:04 | By dumbkof2
How can i get on this gravey train so ican get my share of all this money
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