Legal

Investors ‘follow money trail’ at troubled forestry firm GWD

Dublin company that raised €30m for plantations in Brazil and Canada is facing liquidation calls over link with another firm, WFS, which is being investigated for fraud

GWD Forestry Ltd is currently facing a High Court application to appoint a liquidator from a creditor who said he was concerned about how the company was being run

A Dublin-registered forestry company that raised around €30 million from investors has alleged that a separate forestry scheme “took over” its Spanish office and gained access to confidential data, according to documents filed in the High Court.

GWD Forestry Limited, which raised money for plantations in Brazil and Canada, is currently facing a High Court application to appoint a liquidator from a creditor who said he was concerned about how the company was being run.