SECTIONS

south canterbury finance

BusinessJanuary 20

SCF fraud case adjourned

The five defendants accused in New Zealand's biggest corporate fraud case have been granted name suppression and an adjournment in Timaru District Court.
BusinessJanuary 15

SCF fraud case goes to court

The biggest alleged corporate fraud case in New Zealand history will be called for the first time in Timaru today.
NationalDecember 8

SCF charges to focus on guarantee scheme

The $1.7 billion fraud charges involving South Canterbury Finance are expected to allege the company duped Treasury when it applied for admission to the Crown retail deposit guarantee scheme, the Serious Fraud Office has indicated.
NationalDecember 7

SCF: five people charged

The Serious Fraud Office (SFO) has laid charges following its investigation into South Canterbury Finance, SFO chief executive Adam Feeley said in a statement yesterday.
NationalSeptember 13

Families could get SCF land

Land the Government "inherited" through its $1.7 billion South Canterbury Finance bailout may be offered to Christchurch residents forced out of their quake-damaged homes, Prime Minister John Key says.
BusinessSeptember 6

Receivers take care after Hubbard's death

The death of Timaru financier Allan Hubbard makes little difference to the ongoing sale of his businesses - but compassion is being exercised.
DunedinAugust 29

St Clair developer's companies forced into receivership

Receivers of South Canterbury Finance receivers have forced three companies of St Clair developer Stephen Chittock into receivership over a $1.5 million debt - just days after they were placed into voluntary administration.
St Clair developer's companies forced into receivership
St Clair developer's companies forced into receivership
BusinessJuly 6

South Canterbury Finance owed $188.6 million

South Canterbury Finance is owed $188.6 million by two Allan Hubbard-controlled companies, but receiver McGrath Nicol is withholding further details so as not to prejudice any legal proceedings.
BusinessMay 25

SCF receivers report milestone

South Canterbury Finance's receivers say they have reached a milestone with the sale of $100 million in commercial loan assets to the world's biggest finance company, GE Capital.
BusinessApril 14

No clues as to would-be SCF saviours

"Receivership appears to be the only alternative", insolvency specialists KordaMentha told the Treasury in a report just six days before South Canterbury Finance imploded into its billion-dollar demise.
No clues as to would-be SCF saviours
No clues as to would-be SCF saviours
BusinessApril 13

Receivers secure 'good price' for Helicopters (NZ)

Receivers of failed South Canterbury Finance have made their first major sale with a Canadian company paying about $160 million for Helicopters (NZ) Ltd, It was an asset ceded to South Canterbury by the finance company's founder, Allan Hubbard.
BusinessApril 6

Sale plan for SCF's commercial assets well advanced

Sale processes for South Canterbury Finance's commercial assets were well advanced, Finance Minister Bill English said yesterday, through a spokesman.
NationalApril 5

No good bids for SCF: Key

There were no good offers for South Canterbury Finance, Prime Minister John Key said today as Labour argued a spike in the cost of the Retail Deposit Guarantee Scheme due to the company's collapse was avoidable.
No good bids for SCF: Key
No good bids for SCF: Key
BusinessDecember 23

Accounts not complete for Southbury Group

The receivers of the Allan Hubbard family-controlled Southbury Group Ltd say accounts for the company prepared by the Timaru businessman were incomplete and unreliable.
BusinessNovember 29

Hubbard wants control of business

A statement by Timaru businessman Allan Hubbard that he is in advanced talks to take over Hubbard Managed Funds by the end of the year has caught the statutory managers of his affairs by surprise.
BusinessNovember 1

SCF report shows $315m shortfall

The receivers' first report into South Canterbury Finance shows a shortfall of nearly $315 million, with assets of $1.39 billion and liabilities of $1.71 billion.
BusinessOctober 29

New Hubbard report details shortfalls

The statutory managers of Allan Hubbard's business affairs have issued their fourth report on progress in unravelling his complex business affairs.
BusinessOctober 28

SFO to probe South Canterbury Finance

The Serious Fraud Office has launched an investigation into South Canterbury Finance (SCF).
BusinessSeptember 22

Auckland bars and clubs cost SCF

Never mind the cow cockies - South Canterbury Finance (SCF) and Allan Hubbard's woes were aggravated by glitzy property investments, including a number in upmarket Auckland bars and nightclubs.
BusinessSeptember 22

Bad lending led to SCF downfall: Key

South Canterbury Finance got itself into trouble by lending money to people who couldn't pay it back and on assets that had no value, and many of the loans were now bonfire material, Prime Minister John Key said today.
Bad lending led to SCF downfall: Key
Bad lending led to SCF downfall: Key
BusinessSeptember 22

Allan Hubbard: Rags to riches and back

South Canterbury Finance driving force Allan Hubbard has seldom given interviews about his life, but during a private encounter one evening two years ago, after meeting Prime Minister John Key at his Timaru offices, he opened up about his early years.
Allan Hubbard: Rags to riches and back
Allan Hubbard: Rags to riches and back
BusinessSeptember 10

Borrowers assured of funds

Failed South Canterbury Finance's receivers have confirmed funding support will continue for borrowers who meet the lending criteria.
BusinessSeptember 8

$1.6 billion bailout of SCF defended

Finance Minister Bill English is defending the Government's $1.6 billion bailout of South Canterbury Finance depositors, saying despite indications of the company's deterioration, there was no cause to remove it from the Crown's retail deposit guarantee scheme.
$1.6 billion bailout of SCF defended
$1.6 billion bailout of SCF defended
OpinionSeptember 2

SCF collapse exposes NZ's weaknesses

The failure of South Canterbury Finance once again exposes the glaring structural deficiencies in the New Zealand economy, writes Peter Lyons.
SCF collapse exposes NZ's weaknesses
SCF collapse exposes NZ's weaknesses
BusinessSeptember 1

Investor withdrawal hurt SCF

Wealthy investors pulling money out of South Canterbury Finance (SCF) to get below new limits for the Government's deposit guarantee scheme appear to have compounded the woes of the Timaru-based finance company.