High Court orders Forestlands IRD debt can be paid from $18M funds in trust; liquidation sought by FMA

Sun, 22 Apr 2018

By Sophie Boot April 23 (BusinessDesk) - The Financial Markets Authority has applied to the High Court for 18 Forestlands companies to be put into liquidation, with the court having ordered that the companies' tax debts can be paid from money held in trust. The FMA began investigating Forestlands in March last year, with concerns about fair distribution to investors across the companies, and the companies having failed to file financial statements. It referred the issue to the Serious Fraud Office and investigations by both agencies are o...

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