- MANAIA GROVE LIMITED | CIV 2017-435-15
- GPL LIMITED | CIV 2017-404-1423
- ABSOLUTE INSULATION LIMITED | CIV 2017-404-1414
- SOUTH SIDE STEELYZ LIMITED | CIV 2017-404-1459
- SUPER TURF LIMITED | CIV 2017-404-1701
- VELTMEYER ROOFING LIMITED | CIV 2017-404-1089
- LAVENDER HOUSE LIMITED | CIV 2017-470-103
- HEAVY HAULAGE NORTHLAND LIMITED | CIV 2017-488-74
- DALE STRIMLING ENGINEERING CONTRACTORS LIMITED | CIV 2017-406-14
- SEACHANGE BEACH CAFE LIMITED | CIV 2017-488-81
FMA concerned as Forex Brokers hole deepens
The collapse of a foreign exchange firm has sparked the interest of regulators and police as anticipated losses ballooned out to more than $15 million.
Expected losses from Queen Street firm Forex Brokers, whose offices and website have been shuttered since earlier this month, have rapidly widened to $15.4 million since the company appointed PKF as liquidators on April 11.
The first liquidators published on Wednesday by PKF's Chris McCullagh and Stephen Lawrence said the company likely had only $56,656 to satisfy creditors, largely made up of forex clients, owed $15.4m.
Russell Maher, Forex Brokers' managing director, told liquidators he blamed the failure on "too many 'out of money' contracts," and competition that forced him to adopt an overly-large position.
Read the full article by Matt Nippert > New Zealand Herald - nzherald.co.nz