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The proceedings in what is known as the BIT (bilateral trade) case are governed by the United Nations Commission on International Trade Law Rules of Arbitration 2010 (UNCITRAL Rules), and are being overseen by a three-member arbitral tribunal

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The figure was equal to the average for 1893 and both years represent the lowest prices ever paid in the recorded sales history of the market

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In an interview with TV's Newshub Nation, Willis said, "we have to remember that the changes to the smoke-free legislation had a significant impact on the government books, with about $1 billion there." As those remarks made headlines, both Willis and Luxon portrayed the change of heart on tobacco as a policy decision rather than an economic tradeoff, citing potential regulatory problems