South Canterbury Finance Limited

[macduffy]

IT doesnt matter what kind of mud you put in a pot or how you stir it, it is still mud. I assume if SCF goes it will drag down PGW also?

If Brian Gaynor's statement that SCF had $322m cash or cash equivalents as at 31 December, 2008 is correct it might be a bit soon to write this company off.
Hubbard's willingness, and ability, to inject $40m new capital, effectively to meet the pre-tax loss, speaks volumes, IMO, unlike the situation with so many of our failed finance companies.

Disc: Not holding SCF debentures etc or PGW.