Ref:13/09 FNPF moves on Momi Bay Project

The FNPF has recently taken possession of the Momi Bay property, which it is entitled to under the loan securities as mortgagee in possession following the decision by the Board to proceed with foreclosure to acquire and protect its assets. The Board has engaged a Security firm to provide basic security on-site while it undertakes basic clean up in preparation for the auction under the foreclosure. It has also appointed a marketing agent to conduct the marketing campaign.

At this stage, the Board is considering its options and is hopeful for a sale at the auction. The FNPF has no intention of being involved in developing the property in the immediate term.

For more information, please contact:

Wainikiti Bogidrau

Manager Public Relations & Corporate Communications

On 323 8459 or 999 8104 or on Email