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Only last week when the New Zealand based Forex Brokers group has reportedly collapsed, its debt was estimated at just over $1 million. Now the figure has already ballooned to over $10 million owed to creditors, according to the New Zealand Herald.
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The New Zealandian accounting practice PFK Corporate Recovery & Insolvency was appointed as liquidators and is quoted today by the newspaper saying that “while liabilities were still to be confirmed they were substantial and exceeded $10m.” The assets of the company, “primarily around $10,000 in cash and ... (read more)