Te Arawa Federation of Maori Authorities deputy chairman Te Taru White said the organisation had been asked to bring together a group of iwi stakeholders to discuss the possibility of investigating the purchase of the business.
Invited were members of the Te Arawa Lakes Trust and Te Arawa Group Holdings (the commercial arm of Te Arawa treaty settlement organisation Te Pumautanga O Te Arawa Trust) and other trusts and corporations involved in forestry and primary sector industries.
Mr White said Friday's meeting found there was unanimous interest in pursuing the matter further. "There is a lot of conjecture out there about why the company failed, but it's all just that, conjecture.
"We decided to seek further information from the receivers in the form of a prospectus which they say we will have in the next few days.
"We are also seeking additional industry intelligence and want to find out what others in the industry think about it.
"It's about painting a picture of the entire situation before we take anything further."
Mr White said it was an important move by the iwi as they "didn't want to just walk away".
He said another meeting would be held between iwi stakeholders in the coming weeks.
"It's important we take a serious look at it. There will be other investors sniffing around I'm sure. We are just another one of those groups.
"But, most importantly, the business case has to stack up," Mr White said.
Mrs Chadwick said Rotorua District Council staff were preparing to help interested parties with the due diligence process and were working closely with the receivers.
"It shows our iwi moving into the next phase of development after their major treaty settlements. I wish them all the best and hope they can pull it off. They have a natural synergy with the industry and I think it would be an excellent fit."
But Mrs Chadwick said any purchase would be a long way off.
