Scoop has an Ethical Paywall
FMA update on Forestlands
The FMA has decided not to seek costs arising from
its application to put the Forestlands companies 2-12 and
14-20 into liquidation.
The FMA has informed the liquidators, KordaMentha, accordingly.
When the FMA applied to the High Court to put the Forestlands companies 2-12 and 14-20 into liquidation, it reserved its position in terms of costs. It did so because the length and complexity of the case was not clear at that time. An organisation seeking to put a company into liquidation is entitled to claim costs under legislation. The amount that the FMA would have been entitled to claim in this case was approximately $32,000.
The FMA considers its position in terms of claiming costs on a case by case basis.
KordaMentha has now published its first liquidators’ reports in relation to the Forestlands companies 2-12 and 14-20. Copies of those reports can be found here.
The FMA’s investigation into the Forestlands director remains ongoing.
ENDS
University of Auckland: Junk Food Designed To Make Us Eat More, Study Finds
Spark: New Report Sets Out Outcomes-Led Approach To Lift Rural Connectivity Using The Right Mix Of Technologies
Bill Bennett: Fixed Voice Rules Head For Deregulation
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
