FE Investments placed into receivership

On 1 April 2020, Neale Jackson and Brendon James Gibson of Calibre Partners (formerly KordaMentha) were appointed Joint Receivers and Managers of all of the assets and undertaking of FE Investments Limited (‘FEI’ or ‘the Company’) pursuant to a Trust Deed dated 8 August 2003 as amended by a Deed of Amendment and Restatement – Deposit Trust Deed dated 18 November 2016 and a Deed of Amendment dated 29 March 2018 and security interest registered in accordance with the Personal Property Securities Register Act 1999 on 9 October 2003, granted in favour of Trustees Executors Limited.

The Receivers are now in control of the assets and undertaking of the Company.

FE Investments placed into liquidation

FE Investments Limited was put into liquidation by special resolution of the shareholders pursuant to section 241(2)(a) of the Companies Act 1993, on 24 July 2020 at 08:00 a.m.

Rees Logan of Auckland and Rhys Cain of Christchurch were appointed joint and several liquidators of the Company.

Both Rees Logan and Rhys Cain are RITANZ Insolvency Practitioners accredited by Chartered Accountants Australia and New Zealand.

If you have any questions concerning the liquidation, please contact Sue Fletcher from our office on [email protected] or 021 221 6969.

Information for deposit holders

As a consequence of the receivership, all payments of principal and interest to deposit holders have been suspended.

The Receivers have now issued a ‘Depositor confirmation form’ to all known depositors. If you have not received a ‘Depositor confirmation form’ please contact us on [email protected].

Further communication with deposit holders will likely be issued before the end of December 2020, when the Receivers will provide further information about FEI and the receivership.

Should you require any further information, please do not hesitate to contact us via email [email protected] or on 09 307 7865 if you do not have access to email.

Information for borrowers

Borrowers should continue to make their regular contracted payments, to the same bank account.

Please contact your normal account manager at the Company should you wish to discuss the status of your borrowings.

For the avoidance of doubt, the Receivers do not adopt personally or otherwise any agreement you have with the Company. Any such agreement shall remain between you and the Company.

For completeness, please note that FE Investment Group Limited (ASX listed) is not in receivership.

Should you require any further information, please do not hesitate to contact us via email [email protected] or on 09 307 7865 if you do not have access to email.