DOIA REQ 0018708 Stephen Prendergast Response letter.pdf

19 September 2025

Ref: DOIA-REQ-0018708

Stephen Prendergast
Email: [FYI request #31822 email]

Tēnā koe Stephen Prendergast

Thank you for your email of 30 July 2025 to the Ministry of Business, Innovation and Employment (MBIE)
requesting, under the Official Information Act 1982 (the Act), the following information:

On 7 Dec 2023 MBIE proactively released a report prepared by Calibre Titled Project White.
Apart from being a very odd name the other mentionable feature of this report was the complete
redaction of all but the Title or Cover page.
RAL is on the cusp of being wound up. The Administrators report has identified there are no further
assets to distribute and so it would seem a perfunctory wind up will now occur.
Given the passage of time, the public interest in the management of the RAL liquidation and the
significant amount of public money consumed during this process I am requesting an unredacted
version of the report.
I would also like all correspondence between Calibre and MBIE relating to this report.

On 27 August 2025 MBIE wrote to you advising it was extending the time available to make a decision on
your request, and that a response would be sent to you no later than 22 September 2025.

Your request specifically seeks the release of “a report prepared by Calibre Titled Project White” (the
Report). MBIE has decided that no additional information contained within the Report can be released,
and is withholding the report in full under the following sections of the Act:
• 9(2)(b)(ii), to protect information where the making available of the information would be likely
unreasonably to prejudice the commercial position of the person who supplied or who is the
subject of the information;
• 9(2)(ba)(i), to protect information which is subject to an obligation of confidence or which any
person has been or could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the supply of similar
information, or information from the same source, and it is in the public interest that such
information should continue to be supplied.

However, we can advise that ‘Project White’ refers to the proposal to operate the ski fields operated by
Ruapehu Alpine Lifts Limited (In Liquidation and Receivership) (RAL) under a new company. You will see
the placeholder ‘NewCo’ used throughout the released documentation to refer to the unnamed new
business entity.

The Report contains sensitive commercial information which was provided in confidence. By continuing
to withhold this information, MBIE can maintain access to commercially sensitive information required
for MBIE to carry out commercial activities and negotiations without prejudice. The Report was provided
to interested parties under non-disclosure agreements (NDAs), which are referenced within the released

documentation. The release of information which was provided under an NDA would discourage future
entities from disclosing critical information to MBIE and undermine future NDAs.
Although RAL is in the process of winding down, the information disclosed in the Report continues to be
sensitive to the current commercial operators of the ski fields, Pure Tūroa Limited and Whakapapa
Holdings 2024 Limited. The release of this information is likely to unreasonably prejudice their
commercial position and operations.

To satisfy public interest considerations, I am providing a summary of the information enclosed in the
Report. The Report contains financial information for the 2023 and 2024 financial years. This includes:
•  NewCo’s forecast performance and cashflow
•  NewCo’s opening position and balance sheet
•  NewCo’s forecast capital expenditure to the 2028 financial year
•  Ruapehu Alpine Lift Limited’s capital expenditure to the 2028 financial year
•  NewCo’s sensitivity analysis
•  Whakapapa Holdings Limited’s forecast business unit performance
•  Tūroa’s forecast business unit performance.

While we are not releasing a copy of the Report, please find below a schedule of the correspondence and
other documentation relevant to your request:
#
Date
Type
Description/Title
Withholding
grounds
1
9/12/2022
Email
RE: RAL - Options for Discussion
9(2)(a)
2
9/12/2022
Attachment  RAL_Project White_high level overview 9Dec22
Withheld in full
DRAFT
9(2)(g)(i)
3
20/12/2022  Attachment  AKLDOC01-#9609549-v3-Project_White_-
Withheld in full
_iwi_discussion_document
9(2)(g)(i)
4
21/12/2022  Attachment  AKLDOC01-#9609549-v4-Project_White_-
Withheld in full
_iwi_discussion_document
9(2)(g)(i)
5
21/12/2022  Email
RE: Project White - NewCo Finance Workstreams
9(2)(a)
9(2)(ba)(i)
6
21/12/2022  Email
RE: RAL - Discussion Document
9(2)(a)
9(2)(g)(i)
7
21/12/2022  Attachment  RAL - Discussion Document - 21 December
Withheld in full
9(2)(g)(i)
8
24/12/2022  Email
Re: Project White - NewCo Finance Workstreams
9(2)(a)
9
9/01/2023
Email
RE: Project White
9(2)(a)
9(2)(b)(ii)
10  15/01/2023  Attachment  FY23 underlying assumptions
9(2)(b)(ii)
11  16/01/2023  Attachment  2022-23 RAL Financial Statements - MBIE v
Withheld in full
15.01.23
9(2)(b)(ii)
12  17/01/2023  Email
Re: Project White - NewCo Finance Workstreams
9(2)(a)
9(2)(ba)(i)
13  24/01/2023  Attachment  AKLDOC01-#9662087-v4-Project_White_Proposal
Withheld in full
9(2)(g)(i)
14  7/02/2023
Attachment  AKLDOC01-#9662087-v5-Project_White_Proposal
Withheld in full
9(2)(g)(i)
15  7/02/2023
Attachment  Project White - FY23 and FY24 Forecasts Overview
Withheld in full
DRAFT
9(2)(g)(i)
16  9/02/2023
Email
RE: RAL - Project White - Update
9(2)(a)

17  15/02/2023  Attachment  Project White - FY23 and FY24 Forecasts Overview
Withheld in full
DRAFT 15Feb22
9(2)(g)(i)
18  15/02/2023  Email
RE: RAL Report
9(2)(a)
9(2)(g)(i)
19  21/02/2023  Email
Kānoa-RDU / Tuwharetoa: RAL discussion
9(2)(a)
20  21/02/2023  Attachment  Project White - FY23 and FY24 Forecast Summary
Withheld in full
DRAFT 21Feb23
9(2)(g)(i)
21  21/02/2023  Email
RE: RAL - Options Memorandum - 20 February
9(2)(a)
2023
22  22/02/2023  Email
RE: Ruapehu Alpine Lifts Limited (Administrators
9(2)(a)
Appointed)
9(2)(b)(ii)
23  2/03/2023
Email
RE: Ruapehu Alpine Lifts Limited (Administrators
9(2)(a)
Appointed) (RAL) - Selective Release of the Calibre
9(2)(g)(i)
Partners' Report
24  2/03/2023
Attachment  AKLDOC01-#9723752-v2-RAL_-_Process_Letter
Withheld in full
9(2)(g)(i)
25  2/03/2023
Attachment  AKLDOC01-#9723555-v3-RAL_-_NDA
Withheld in full
9(2)(g)(i)
26  2/03/2023
Attachment  AKLDOC01-#9723752-v2-RAL_-_Process_Letter
Withheld in full
9(2)(g)(i)
27  2/03/2023
Attachment  RPs Draft Email to John Fisk re RAL
Withheld in full
9(2)(g)(i)
28  3/03/2023
Email
FW: Calibre Partners report
9(2)(a)
29  5/03/2023
Email
FW: Calibre Partners report
9(2)(a)
30  5/03/2023
Attachment  RAL FY23 and FY24 Forecasts Overview_DRAFT to
Withheld in full
VA 5Mar23
9(2)(g)(i)
31  5/03/2023
Attachment  Project White - FY23 and FY24 Forecasts Overview
Withheld in full
DRAFT
9(2)(g)(i)
32  6/03/2023
Email
RE: FW: RAL
Withheld in full
9(2)(b)(ii)
33  6/03/2025
Report
REQ-2223-3015 Ruapehu Alpine Lifts Limited –
9(2)(b)(ii)
Calibre Partners Report
34  7/03/2023
Email
RE: RAL
Withheld in full
9(2)(b)(ii)
35  13/03/2023  Email
FW: RAL
Withheld in full
9(2)(b)(ii)
36  13/03/2023  Attachment  230313 - Response to Calibre_Project White
Withheld in full
report March 2023
9(2)(b)(ii)
37  13/03/2023  Email
FW: RAL
Withheld in full
9(2)(b)(ii)
38  4/04/2023
Email
RE: Ruapehu Alpine Lifts Limited and Tūroa Alpine
Withheld in full
Limited
9(2)(b)(ii)
39  20/06/2023  Email
RAL
9(2)(a)
9(2)(b)(ii)
40  26/06/2023  Email
RE: Project White Report
9(2)(a)
41  26/06/2023  Email
Calibre Partners Report
9(2)(a)
42  3/07/2023
Email
RE: Signed NDA
9(2)(a)
9(2)(b)(ii)
43  3/07/2023
Email
RE: Signed NDA
9(2)(a)
9(2)(b)(ii)

44  6/07/2023
Email
FW: Ruapehu Alpine Lifts Limited (In Liquidation)
9(2)(a)
(RAL) - Discussion with John Fisk 06.07.2023
9(2)(b)(ii)
45  11/07/2023  Email
FW: Ruapehu Alpine Lifts Limited (In Liquidation)
9(2)(a)
(RAL) - Project White Report
9(2)(b)(ii)
46  7/08/2023
Email
RE: Follow up questions from RAL meeting
9(2)(a)
9(2)(b)(ii)
47  9/12/2022
Email
RE: RAL - Options for Discussion
9(2)(a)

Where information is being released to you, copies are attached. Please note some information has been
withheld under the following sections of the Act:
•  9(2)(a), to protect the privacy of natural persons, including that of deceased natural persons;
•  9(2)(b)(ii), to protect information where the making available of the information would be likely
unreasonably to prejudice the commercial position of the person who supplied or who is the
subject of the information;
•  9(2)(ba)(i), to protect information which is subject to an obligation of confidence or which any
person has been or could be compelled to provide under the authority of any enactment, where
the making available of the information would be likely to prejudice the supply of similar
information, or information from the same source, and it is in the public interest that such
information should continue to be supplied;
•  9(2)(g)(i), to maintain the effective conduct of public affairs through the free and frank expression
of opinions by or between or to Ministers of the Crown or members of an organisation or officers
and employees of any public service agency or organisation in the course of their duty;
•  9(2)(h), maintain legal professional privilege.

I do not consider that the withholding of this information is outweighed by public interest considerations
in making the information available.

If you wish to discuss any aspect of your request or this response, or if you require any further assistance,
please contact [email address].

You have the right to seek an investigation and review by the Ombudsman of this decision. Information
about how to make a complaint is available at www.ombudsman.parliament.nz or freephone 0800 802
602.

Nāku noa, nā

Tane Dewes
Manager Operations Support and Improvement
Kānoa – Regional Economic Development & Investment Unit