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.
South Canterbury Finance
SCF fraud case goes to court
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.
SCF charges to focus on guarantee scheme
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.
SCF: five people charged
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.
Families could get SCF land
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.
Receivers take care after Hubbard's death
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.
St Clair developer's companies forced into receivership
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.
South Canterbury Finance owed $188.6 million
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.
SCF receivers report milestone
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.
No clues as to would-be SCF saviours
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.
Receivers secure 'good price' for Helicopters (NZ)
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.
Sale plan for SCF's commercial assets well advanced
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.
No good bids for SCF: Key
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.
Accounts not complete for Southbury Group
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.
Hubbard wants control of business
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.
SCF report shows $315m shortfall
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.
New Hubbard report details shortfalls
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.
SFO to probe South Canterbury Finance
SFO to probe South Canterbury Finance
The Serious Fraud Office has launched an investigation into South Canterbury Finance (SCF).
Bad lending led to SCF downfall: Key
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.
Allan Hubbard: Rags to riches and back
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.