- HUNTER LAMINATES 2014 LIMITED | CIV 2018-442-14
- CBL INSURANCE LIMITED | CIV 2017-404-306
- JUPITERZOOK LIMITED | CIV 2018-485-122
- IDRIVE LIMITED | CIV 2017-4585-110
- MORRIS PR LIMITED | CIV 2017-485-142
- FORTIS CARS LIMITED | CIV-2018-404-258
- HERON POINT PROJECTS LIMITED | CIV 2018-404-278
- FIL NZ SERVICES LIMITED | CIV 2018-404-289
- NCR CONTRACTORS LIMITED | CIV 2018-404-257
- GUNSLINGER PROJECTS LIMITED | CIV 2018-404-250
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