The liquidators had reached repayment agreements with 21 of the 95 clients who got paid out more than they put in. Just over $190,000 has been recovered from them so far.
The liquidators are in negotiations with some other clients, although say others are refusing to speak to them or will not enter into repayment arrangements.
"We intend to take further action against these clients," Jackson said.
While Arena Capital marketed itself as a foreign exchange trader, Jackson said last August there was no evidence that it had traded or generated profits for itself or its 1100 clients, who were owed around $7 million.
The liquidators, in the last six months, recovered two vehicles purchased with Arena's money and a $1.18 million block of land that the company paid for. The land, in the Auckland suburb of Coatesville, will now be sold by the liquidators.
The liquidators have also recovered $80,000 Arena had paid as deposits for two luxury vehicles which were never purchased. NZME
