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Full Coverage: Sth Canterbury Finance receivership
Gordon Campbell: On The South Canterbury Finance Bailout
Like the war in Iraq, there doesn’t seem to have been an exit strategy for the Retail Deposit Guarantee Scheme – and the extension of the scheme until the end of 2011 has been the government’s way of mutely recognizing the ongoing fragility of the sector.
The $1.775 billion bill that the taxpayer currently faces for South Canterbury Finance is a consequence of finance companies being let into the scheme in the first place by the Clark government in October 2008. It is also an indictment of the reluctance and/or inability of the Key government to amend the scheme to limit the taxpayer’s liability ... More>>
ALSO:
- Scoop Business - NZ dollar holds below 70 US cts after SCF failure
- Scoop Business - NZ stocks edge lower after SCF failure, PGW down
- Scoop Business - NZ rating not immediately affected by SCF: S&P
- Federated Farmers - South Canterbury Finance
- TV3 Video - SCF: Govt agrees to $1.6B bail out - SCF chief exec on where the money has gone - Retail Deposit Guarantee scheme called into question - SCF made unwise property ventures - CEO - Bill English on SCF's woes and the taxpayer bailout
Smellie
Sniffs The Breeze: Not Quite Lehman Bros
Its affairs are in the hands of receivers, as has
happened to many a company in corporate history. What makes
it special is that it has also triggered the provisions of a
government guarantee scheme that was put in place to ensure
such a collapse did not derail the economy. That makes
things better, not worse. More>>
ALSO:
- NZ Govt - Govt moves swiftly to repay all SCF depositors
- Labour - Government fails to sort out mess
- Greens - Will Govt. stop land sell-off to overseas owners?
- South Canterbury Finance - SCF asks for recievership
- Allan Hubbard - Allan Hubbard Responds to SCF Receivership
- Scoop Business - South Canterbury Finance calls in receiver
- Scoop Business - Scales Corp. unaffected by SCF receivership
- Scoop Business - Keep South Canterbury in perspective: NZIER
- Scoop Business - SCF process will take up to five years: English
- Scoop Business - SCF receivership triggers $1.6B Crown payment
- Scales Corporation Ltd - Scales Not Part Of SCF Receivership
- Rory MacKinnon - PM’s Presser – South Canterbury Finance
- Scoop Business - Govt liability for South Canterbury is $600M: Key
- Scoop Business - NZ dollar falls as SCF deadline arrives
- Scoop Business - SFO to keep probing Hubbard vehicles
- TV3 Video - English: Gov to repay SCF investors swiftly - SCF live updates - Hubbard speaks out - SFC's Sandy Maier - full news conference - SCF dug its own hole - Key - SCF decision due as govt looks to reassure investors - English cancels holiday to sort SCF
PM’s Presser Audio: South Canterbury
Finance
Most investors in the foundering lending firm South Canterbury Finance will get paid from the public purse if the company collapses, John Key says. More>>
Scoop Business: Statutory Manager Airs More
Concerns Over Hubbard
The government-appointed
statutory manager over Timaru millionaire Allan Hubbard and
part of his empire has flagged more concerns over the state
of the businesses. More>>
ALSO:
- Serious Fraud Office - Investigation into Hubbard related co's continued
- Labour - Labour will hold Govt to account over Hubbard
- Labour - Financial Markets Authority needs wide powers
- Greens - Risk of foreign ownership with finance collapse
- Scoop Business - SFO to keep probing Hubbard vehicles
- Scoop Business - EXCLUSIVE: Three bidders eye South Canterbury
- Scoop Business - Government won’t help, says Allan Hubbard
- Scoop Business - Statutory manager airs more concerns over Hubbard
- TV3 Video - Hubbard: Offer on table for South Canterbury Finance - Key refuses to speculate over South Canterbury's future
- TVNZ - Q+A Interviews Finance Minister, Bill English
- Grant Thornton - Statutory Managers confirm Hubbard shortfall
- TV3 Video - Hubbard investigation began with anonymous complaint
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