GWD Forestry Investment

Ninz

Hi,
I have the same problem. we can talk to each other , tks for sharing

Annoyed18

I’m also in the same boat, Ninz what land is mortgaged in Brazil? Canada? or has all the land been mortgaged? How did you find this out I thought everything was owned outright by them

Ninz

i invested in August 2015, and i never NEVER get any returns. I got false excuses a lot .....
you should know that this company took a mortgage on the lands and now there are in payment default. So , guess what, the amount due is apportioned on a pro rata basis.
It means that not only we lose the investment and the interests but we owe money to that bank.
someone did a calculation for me , they say i owe $15000 of morgage unpaid !!!!!!

Ninz

Canada New Bruswick

Annoyed18

Ninz, why would we owe money?, how did you find out the land is mortgaged? How did you find out this information?

Ninz

As i explain, the company took a morgage. GWD F stop paying that morgage .
So the sums due are prorated. I got that info through a friend of mine CEO of a large bank. i cannot say more about it .

Malthusian

Ninz wrote: »

It means that not only we lose the investment and the interests but we owe money to that bank.
someone did a calculation for me , they say i owe $15000 of morgage unpaid !!!!!!

Unless you signed something agreeing to be personally liable for the loan they are talking nonsense.

Investors in a company are not liable for any other debts it may take on.

A far more likely scenario is that the bank has a first charge, meaning that in the event that GWD is wound up, the bank is paid first and investors are paid second.

As the money is long gone anyway, this means investors are in the same position they were before. It doesn't matter where you sit in the queue if there is no money to dish out.

Despondent_Investor

Re GWD mortgaged land. Investors only invested in the growing of different type of trees. Investors do not own the land so they cannot be liable for a mortgage.


Within the last six months GWD did indicate that in order to compensate investors for possible losses they would transfer the land over to investors. This could be a poisoned chalice.

AdamO

I would be happy to hear anyone's ideas on what to do next.

Aretnap

AdamO wrote: »

I would be happy to hear anyone's ideas on what to do next.

Traditionally depression comes after bargaining. Get that out of the way as quickly as you can, because acceptance is next.

(Sorry, but the harsh truth is that your money is long gone, and anything you do to try to get it back is likely to be throwing good money after bad. The one exception would be if an actual regulated company or professional advised or facilitated this investment, in which case you may have some comeback against them, or possibly the FSCS if the regulated company has already shut up shop).