1992 Treaty Settlements signed

A comprehensive Treaty settlement on commercial fisheries was signed, vesting $170 million with the Waitangi Fisheries Commission to enable it to buy 50 percent of Sealord Products Ltd, a large, Nelson-based fishing company. But the allocation of the fishery resource and proceeds has since caused much disagreement among Māori, particularly between coastal and inland tribes, traditional iwi and newer urban authorities, and the allocation issue remains unresolved more than a decade later. Major settlements were subsequently signed with Tainui in 1995 and Ngāi Tahu in 1998, each at an estimated total value of $170 m.