New Zealand / Business

Warning to RNZ over America's Cup injunction

14:06 pm on 3 July 2020

RNZ has been warned by lawyers acting for the 36th America's Cup organisation about an injunction to media company NZME.

Emirates Team New Zealand unveil their new test boat Te Kāhu, meaning the Hawk. Photo: Supplied: Emirates Team New Zealand

Lawyers acting for Emirates Team New Zealand and a subsidiary say an accounting report, provided to NZME, is the subject of a High Court order preventing publication.

RNZ has been notified about the injunction.

It comes after this week's allegations of spying, claims of misappropriated funds and a police investigation into a scam which led to money being sent to a Hungarian bank account.

The Ministry of Business, Innovation and Employment is investigating the claims swirling around Team New Zealand's events arm.

Yesterday, the ministry suspended any further payments from a $40 million hosting fund - of which $29 million has already been paid.