Reporoa farmer Allan Crafar believes he may be able to get his farms back.

It was revealed yesterday that a group of anonymous investors, fronted by Bay of Plenty-based lawyer, Vinay Deobhakta, says it can raise the money for Mr Crafar to redeem his debt.

In a news report on Thursday Mr Deobhakta said there was a 70 to 75 percent chance that his group of investors, which would be a mix of New Zealanders and foreigners, would put in a bid by the end of the year.

Mr Deobhakta says he has a strong personal network of potential investors in India.

He says he is a close friend of the Crafar family, and the point of the bid would be to put the Crafar’s back in control of the dairy empire they built from scratch. 

"‘We have people that have always been interested in helping Allan get his farms back, but the issue has always been at what price. 

"Of course the legal issue that has been hanging over everyone is whether or not Alan has first rights over and above anyone else that is interested."

The Overseas Investment Office is still considering whether or not to allow a $200 million bid from Chinese investors Shanghai Penqxin group.

The office has been assessing its bid since February.