South Canterbury Finance Limited

[fungus pudding]

Hi Hamdrew,
Interesting article - are they 'softening up' the media for a potential back down? Alan.

I note some subscriber only comment in todays NBR. www.nbr.co.nz/ I'm not a suscriber so not aware of the details, but I doubt that it will reveal much.

[Newman]

I note some subscriber only comment in todays NBR. www.nbr.co.nz/ I'm not a suscriber so not aware of the details, but I doubt that it will reveal much.

Below are some key content in the NBR article:

"In a reserved decision just released from the High Court at Auckland, Associate Judge David Abbott said ASB received $540,000 more than it was entitled to under a $3.5 million mortgage priority linked to a multi-million dollar “farm park” development known as Serenity Cove."

"The judge found in SCF’s favour for the $540,000."

[fungus pudding]

Below are some key content in the NBR article:

"In a reserved decision just released from the High Court at Auckland, Associate Judge David Abbott said ASB received $540,000 more than it was entitled to under a $3.5 million mortgage priority linked to a multi-million dollar “farm park” development known as Serenity Cove."

"The judge found in SCF’s favour for the $540,000."

..which may ior may not be significant, depending on the size of the puddle you're pissing into.

[Danthetitan]

Below are some key content in the NBR article:

"In a reserved decision just released from the High Court at Auckland, Associate Judge David Abbott said ASB received $540,000 more than it was entitled to under a $3.5 million mortgage priority linked to a multi-million dollar “farm park” development known as Serenity Cove."

"The judge found in SCF’s favour for the $540,000."

Great news, that almost fixes them up for the loss they took on the pea trader

[peat]

this article by Fran Sullivan about the notion of placing Allied into Statutory Management makes comments about Alan Hubbard
Fran says
"But the only player put in statutory management by the state is Allan Hubbard - a businessman who has not defaulted on his investors and in my opinion is not going to go down (I doubt if he will be charged with criminal fraud) as a result of the Serious Fraud Office's subsequent investigations.

http://www.nzherald.co.nz/business/n...ectid=10665123

[Beagle]

Great news, that almost fixes them up for the loss they took on the pea trader

Some perspective:- If SCF are looking at posting a loss for the six months ended 30 June 2010 of around $100m as Michael Warrinton estimated the other day, $100m/183 days = a loss per day of $546,000, so after deducting lawyers fees they might have recovered about one afternoon's operational losses.....

[winner69]

wonder a low ball heavily discounted offer for SCFHA is?

This is a serious matter .... so seek professional advice

http://www.stocknessmonster.com/news...=NZSE&N=198209

[CJ]

wonder a low ball heavily discounted offer for SCFHA is?

This is a serious matter .... so seek professional advice

http://www.stocknessmonster.com/news...=NZSE&N=198209

I wonder how low he will offer. Surely they cant go much lower without people just throwing them into the bottom draw and forgetting about them.

[Alan3285]

this article by Fran Sullivan about the notion of placing Allied into Statutory Management makes comments about Alan Hubbard
Fran says
"But the only player put in statutory management by the state is Allan Hubbard - a businessman who has not defaulted on his investors and in my opinion is not going to go down (I doubt if he will be charged with criminal fraud) as a result of the Serious Fraud Office's subsequent investigations.

http://www.nzherald.co.nz/business/n...ectid=10665123

Fran Sullivan is one of the few truly professional journalists in NZ.

I don't actually agree with her that ALF should be in Stat Mgt, but you have to respect her opinions.

Alan.

[Balance]

Fran Sullivan is one of the few truly professional journalists in NZ.

I don't actually agree with her that ALF should be in Stat Mgt, but you have to respect her opinions.

Alan.

She completely misses the point about Stat Mgmt - action is taken before the company defaults.

What's the point of doing anything after the company defaults - as has been the case with Hanover, C&M, Bridgecorp, Blue Chip etc.