Simon Hartley

Upturn in value of goods made

Manufacturing values have hit an 18-month high, but the Statistics New Zealand data is tempered by sales volumes falling to their lowest levels during the decade.

Oceana Gold again loses CEO

Triple-listed Oceana Gold - with its share price attaining a record high - has lost its second chief executive in 16 months with the surprise resignation of Paul Bibby.

Scott Technology business award finalist

Listed Dunedin-based Scott Technology is one of 25 finalists announced in the 2010 New Zealand International Business Awards.

L&M Energy to boost Southland gas exploration

Coal seam gas explorer L&M Energy has completed a $10 million capital raising programme, having raised $1.4 million from small shareholders.

Warehouse tipped to stay on par

Overall financial results for the past year and 2011 are expected to reflect a slow, hard grind...

Warehouse tipped to stay on par

Bellwether retailer The Warehouse is expected to post flat full-year results tomorrow amid declining market share, discounting to shift stock, and scoured profit margins.

$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.

Quake cut sales $8 million

Canterbury retailers dropped more than $8 million in sales in the 24-hour aftermath of Saturday's 7.1 magnitude earthquake which devastated much of Christchurch's central business district.

Case for business interruption cover

Business interruption insurance is one the most complex on the market but crucial.

SCF assets expected to attract attention

Premium South Canterbury Finance assets - Scales Corporation, Helicopters (NZ) Ltd and Dairy Holdings Ltd - will attract a lot of attention as receivers McGrathNicol look to dispose of them.

NZFSU 'now recommends' Olam bid

Directors of listed-New Zealand Farming Systems Uruguay have switched to recommending shareholders sell part of their stakes to allow Singapore-based Olam take a cornerstone 50.1% stake in the offshore dairying company.

Torchlight first to be repaid in SCF bailout

Business George Kerr's Torchlight Fund No 1 LP was yesterday repaid the $100 million it lent to South Canterbury Finance.

$149,000 owed by Leith

Creditors are owed about $149,000 following the voluntary liquidation of Dunedin food and drinks wholesaler Leith Distributors, liquidators estimate.

Preference holders will get no payout

Preference shareholders in collapsed South Canterbury Finance will get no payout, as the shares are not secured against any company assets.

SCF 'bad' loans may rise

Speculation is rife that the $700 million of "bad bank" loans of failed South Canterbury Finance - now owned by the Government - may climb higher, adding to projected taxpayer losses.

SCF fate 'of its own doing'

South Canterbury Finance chief executive Sandy Maier talks to the media during a press conference...

SCF fate 'of its own doing'

Blame for the demise of South Canterbury Finance lies fairly and squarely with itself, according to South Canterbury's chief executive Sandy Maier, but he kept clear of apportioning individual blame.

Swift action boost for South Island economy

Treasury moved swiftly yesterday to assure payment to investors caught out by New Zealand's largest corporate collapse after South Canterbury Finance was placed in receivership owing about 35,000 investors $1.7 billion.

'Business as usual' for mortgagors

Businesses, farmers and homeowners with mortgages to South Canterbury Finance are likely to see little immediate change to their debts as receiver McGrathNicol begins unravelling the company's loan book.

'Significant blow' to South avoided

A "significant blow" to the Southern economy was avoided by having the Government's extended deposit guarantee scheme in place, but the loss of South Canterbury Finance could leave a "lending hole" for several years, Massey University centre of banking studies director David Tripe says.

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Simon Hartley