FEA’s Receivers Deloitte has at last found a buyer for FEA’s land and trees.
Resources Management Services LLC (RMS) a forestry investment manager from Alabama paid $125.5 million for land belonging to FEA and trees belonging to FEA’s MIS growers.
The sale price confirms that forest assets have continued to plummet in value. The sale price is a disaster for everyone waiting for a distribution, the secured and unsecured creditors and the growers.
The insolvency practitioners stand the best chance of getting paid in full.