Quote Originally Posted by Jaa View Post
Well here's one impairment for the year and what a headline!
http://www.stuff.co.nz/business/indu...nt-in-14m-debt
Interesting timing - Nov 2009!

Things were already 'difficult' for SCF by then, so seems odd that they would actually advance $14m in cash. I wonder if that was actually a rollover of pre-existing loans, becuase if not, it certainly looks like a bad decision irrespective of whether the loans perform or not (which they probably aren't from that article).

Alan.