I have invested over a period of time a reasonable amount into Forestland shares,mainly for my future grandkids.Anyone have an idea how Forestlands are travelling.I hear from them about twice a year but maybe more often would ease my concerns.
Forestlands.
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10-08-2015, 03:56 PMbeetillsForestlands.
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11-08-2015, 07:16 PMHRM
I was wondering the same for Green Plan. You can purchase 1 hectare block of pines trees for around $8k and ready to harvest in 10 years. But the original investment statements do seem optimistic compared to today's log prices.
Forestry investments - are they worth it? -
12-08-2015, 09:58 AMbeetillsFrom memory Forestlands have started harvesting a block that i have a share in,so hopefully an update shouldn't be far away.Quote:
Originally Posted by HRM
As far as returns are concerned i don't really know however i am working on at least a 7% increase of the value of my investment per year in good times.
Of course if things go bad it might be nothing. -
03-02-2017, 02:05 PMbeetills
Interesting news letter from FORESTLANDS today.Seems like the have sold up if i read it correctly and will be paying out or retaining funds for other purchases eg forests,farms or property investment.Shareholders choice.
Not to sure what way i will go at this stage. -
05-10-2017, 01:22 PMbeetills
NBR reporting Forestlands may be struck off.
The news just gets rosier. -
18-10-2017, 08:24 AMbeetills
NBR headline this morning
''''false address used in filings''''
Under paid sub,anybody able to enlarge on comment. -
18-10-2017, 12:23 PMbigbz
Hi beetills,
there is a Facebook group setup for forestland's shareholders with some good information on it. Let me know if you cant find it. -
19-10-2017, 03:43 PMbeetillsThank u for that.Quote:
Originally Posted by bigbz
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27-04-2018, 10:29 AMbeetills
FMA now alleging misappropriation.
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22-07-2018, 09:59 PMSideshow Bob
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09-03-2022, 01:43 AMnztx
https://www.stuff.co.nz/business/pro...e-by-receivers
Forestlands founder's home for sale by receivers
Quote:
The 1144sq m home and sprawling rural estate at 64 Thorpe-Orinoco Rd in Ngatimoti, near Motueka, has been placed up for sale by BDO accountants and insolvency practitioners Rees Logan and Diana Matchett, who have been appointed receivers of the Kearns Family Trust.
Quote:
The Financial Markets Authority (FMA) has filed criminal charges against Kearns in relation to the Forestlands group of companies he was founder and sole director of, for alleged disclosure and financial record keeping breaches.
It's certainly taken a while to reach this point !Quote:
In 2018, 18 Forestlands subsidiary companies were put into liquidation, with that process still ongoing.
The FMA has previously said that after Motueka-based Forestlands group ran into financial difficulty it started a process to sell forestry assets in mid-2015, but investors were allegedly not notified or consulted. In October 2016, the forestry was sold for about $23.5 million and in early 2017, at the direction of the FMA, $18 million was placed in a trust for investors.
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09-03-2022, 01:48 AMnztx
https://www.stuff.co.nz/business/111...investors?rm=a
Disappointment at large losses for Forestlands investors
3 Apr 2019 Article with a mugshot of Mr Kearns
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https://www.stuff.co.nz/business/ind...mpanies-by-fma
Criminal charges filed in relation to Forestlands companies by FMA
9 Sep 2020 Article
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https://www.stuff.co.nz/business/ind...orting-charges
Forestlands founder Rowan Kearns defends financial reporting charges
20 Oct 2020 Article -
09-03-2022, 01:53 AMnztx
https://www.stuff.co.nz/business/107...-mum-over-sale
Forestlands director explains why he kept mum over sale
13 Oct 2018 Article -
09-03-2022, 03:27 PMSideshow Bob
Would be interesting what the value of those forests would be worth now....??
Obviously not a golfer by the state of his back yard!! ;) -
20-07-2023, 08:08 PMnztx
https://www.stuff.co.nz/nelson-mail/...l-new-ventures
Failed company director borrowing money from family to bankroll new ventures
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The director of a failed group of forestry companies has been left “financially destitute”; and has borrowed money from his adult children to bankroll new business ventures.
On Thursday afternoon, founder and sole director of the failed Forestlands group of companies Rowan Kearns was sentenced to four months’ community detention in Nelson District Court. About a dozen shareholders watched proceedings via an audiovisual link.
In January, Kearns pleaded guilty to a representative charge of making a false statement under the Financial Reporting Act relating to the non-disclosure of financial details when taking out a bank loan, two representative charges of failing to deliver financial statements, and a representative charge of failing to lodge financial statements.
The Forestlands group invested in forests, raising money from “mum and dad” investors.
Look what just showed up in Nelson Court pleading poverty and destitute ;)
but borrowing from family not a problem for their new ventures ;)
Quote:
However, forests owned by the group were not harvested before the companies were put into liquidation in 2018 by the High Court in Nelson at the request of the Financial Markets Authority Te Mana Tātai Hokohoko (FMA), after investors protested to the regulator.
Instead, the forests were sold in 2015 without the knowledge of investors who owned non-voting shares in the Forestland companies.
Stuff reported in 2019 that Kearns said he didn't tell shareholders at the time because he feared that if the general market found out he would never obtain the price he did for the forests in Southland, Hawke’s Bay and Wairarapa.