FMA halts Forestlands plan to distribute $18M after asset salew

Wed, 22 Mar 2017

By Paul McBeth March 22 (BusinessDesk) - The Financial Markets Authority is talking to Forestlands over $18 million the forest owner planned to distribute to investors after selling its assets. The market watchdog said it received a number of complaints from Forestlands investors about the group and has asked the firm to place the $18 million set aside for distributions into a trust account until more inquiries are made. Last month Forestlands told its shareholders it was finalising payment details after selling its forests with a vi...

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