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The liquidators of 19 companies linked to property company Blue Chip say some funds may be available to investors as early as May.
Liquidator Jeff Meltzer said while it was too early to give specific details, investors affected by the collapse of the New Zealand operation should get independent financial advice before deciding to sell their properties.
"If investors can meet their obligations in March and April and if the proposal we are reviewing is confirmed then there may be some financial relief for investors in May that means they may not have to sell their properties."
Earlier, a report from Meltzer Mason Heath said the companies could owe as much as $58 million, and that there was little hope of any money being available to pay people.
Its first report showed apartment developments would not proceed and most companies had either no assets or their debts exceeded the estimated value of any assets, according to the New Zealand Herald.
Blue Chip invested in housing and property developments on behalf of individuals, some of whom are reported to have had to sell their own homes to meet mortgage repayments.
- NZPA
