Home / Knowledge / News / Textiles / Former Wool Board pays out to sheep farmers
Former Wool Board pays out to sheep farmers
02
Aug '11
New Zealand's former Wool Board has paid out the money it owned to 1300 sheep farmers, nearly eight years after it was shut down.

At the time of winding up, the Wool Board had reserve funds of nearly NZ$ 7 million, which were since been lying with the Wool Board Disestablishment Company (DisCo).

The DisCo was supposed to distribute the money to sheep farmers or Wool Equities, a farmer-owned company, within a year of the closure of the Board. The release of the money was, however, delayed due to a legal challenge from specialist wool growers.

The case over funding of wool marketing programmes adopted by the former Wool Board went on for seven years. It finally ended earlier this year when the Supreme Court rejected an application for further appeal.

This paved the way for DisCo to send the final cheques to sheep farmers amounting to NZ$ 6.805 million. While most of it was directly sent to individuals, around NZ$ 2.75 million is being to Wool Equities.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search