- TILE ACCESSORIES LIMITED | CIV 2017-404-2207
- PACIFIC NATURAL GUT STRING CO. LIMITED | CIV 2017-443-59
- KARAMEA HOLIDAY HOMES LIMITED | CIV 2017-409-765
- SCOTTISH MASONRY LIMITED | CIV 2017-425-97
- MR MERLIN LIMITED | CIV 2017-425-98
- DERMA BRANDS LIMITED | CIV 2017-409-749
- CURRY CORNER LIMITED | CIV 2017-404-2098
- DBS TECHNOLOGY LIMITED | CIV 2017-404-2151
- HYDRA CONSTRUCTION LIMITED | CIV 2017-419-237
- LIGHTWEIGHTROOF LIMITED | CIV 2017-404-2135
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