Jude Petheram
Rowan Kearns, director and controlling shareholder of Forestlands NZ Ltd. Shareholders say Kearns has cut contact with them except for updates on his website. (File photo)
Investors in Forestlands NZ Ltd say they have little hope of receiving their promised returns as the company goes into liquidation.
Forestlands put up no contest when the Financial Markets Authority (FMA) sought the liquidation of 18 of its subsidiary companies, the latest development in an ongoing series of troubles for the company. The application was heard in the High Court at Nelson on Thursday.
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Read the full article at: https://www.stuff.co.nz/business/money/106864413/forestlands-has-gone-into-liquidation-owing-millions-to-investors