Legal

Troubled forestry firm GWD branded a ‘scam’ as part of High Court liquidation hearing

GWD Forestry Limited, which raised money for plantations in Brazil and Canada, is facing a petition to be wound up by a creditor who alleges the company was a fraudulent endeavour

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 been dubbed a “scam” which perpetrated “clear fraud”, the High Court has heard.

GWD Forestry Limited, which raised money for plantations in Brazil and Canada, is facing a petition to be wound up by a creditor who alleges the company was a fraudulent endeavour.

Franco Bertellino, a creditor from Rivoli in Italy who says he is supported by 19 other investors, wants to ...