South Canterbury Finance Limited

[fungus pudding]

Time to let go, Roger.

Enumerate is suffering from deep shock. I feel sorry for him - I really do.

All is well after all. Just heard Paul Carruthers interviewed on the radio - and the investigation is just a crock. No evidence. He said so - so there!

[Wolfman]

I should say that I am really referring to Aorangi Securities, HFM et al as described in today's report.

[Beagle]

Time to let go, Roger.

Enumerate is suffering from deep shock. I feel sorry for him - I really do.

He had so much faith in AH and so little trust that Simon Power, John Key, the government, Securities Commission, Companies Office and SFO had strong and worrying grounds to act decisively against AH.

There will be many investors out there who are relieved that they did not become victims of the "use Paul to pay John' money scheme run by AH. There are already enough victims in Aorangi & HFM. More were being lined up if AH was not put into SM.

Fair comment mate. I guess if you have been on the receiving end of one of Alan's friendly loans its hard to be objective.

[minimoke]

All is well after all. Just heard Paul Carruthers interviewed on the radio - and the investigation is just a crock. No evidence. He said so - so there!

Perhaps he's confusing the Stat Man efforts with those of the SFO.

To spell things out simply:
- Hubbard Management Funds reported value has been overstated by at least 25% with further losses likely
- HMF statements include investment's and cash balances that do not exist.

- Aorangi securities accepted on-call money and placed it in long term "investments"
- Aorangi investments are in farms, and some commercial entities which are of poor quality and do not generate enough interest to pay investors
- $10m in Aorangi went to Southbury
- $59m went to farms associated with AH
- $24m went to Te Tua Trust and they can't make their interest payments to Aorangi
- Te Tua has lost $10m with another $5m on the cards
- Aorangi money went into non-interest bearing trusts
- Many Aorangi investment's rank behind all other creditors.

Paul needs to take off those rose tinted glasses!

[fungus pudding]

Perhaps he's confusing the Stat Man efforts with those of the SFO.

To spell things out simply:
- Hubbard Management Funds reported value has been overstated by at least 25% with further losses likely
- HMF statements include investment's and cash balances that do not exist.

- Aorangi securities accepted on-call money and placed it in long term "investments"
- Aorangi investments are in farms, and some commercial entities which are of poor quality and do not generate enough interest to pay investors
- $10m in Aorangi went to Southbury
- $59m went to farms associated with AH
- $24m went to Te Tua Trust and they can't make their interest payments to Aorangi
- Te Tua has lost $10m with another $5m on the cards
- Aorangi money went into non-interest bearing trusts
- Many Aorangi investment's rank behind all other creditors.

Paul needs to take off those rose tinted glasses!

Undioubtedly. He was a real laugh. Stand him in a downpour and he'd swear black and blue it wasn't raining.

[GTM 3442]

Further to macduf's comments
The politicial angle must play a role here.....
Cantabs are a very loyal lot and SCF is one of their hero,s
The rural community is very close and SCF is part of that.
Note how the folks howled when they thought Allan might
go to the wall. Regardless of right or wrong
A hell of a lot of Tory vote comes from here and if SCF
was allowed to go under, then there is a big number of Coy's
and voters will go with them.
Canty is still a place of hand shakes and your word signs a deal.
BB
BB

Not a lot of votes down south.

[Enumerate]

Yeah it hasn't gone unnocticed that the resident cultist (Enumerate) has gone to ground.

Come out of your hole Enumerate and let's see how you defend your man now !!

The lynch mob has heard one side of the story and is prepared to return a guilty verdict (or at least execute mob justice).

It is usual, in our system of justice, to have both sides of a case argued. As far as I am aware, the Statutory Manager has not even spoken to Allan Hubbard. How could this "evidence" be accepted, by so many, when it is many months in the preparation by a hostile entity looking to "nail" Hubbard.

Most on the thread have not read (or at least understood) the report. Most loud drunken opinion aired today reflects the "headline" and not the substance.

In our system of justice, it is conventional to have an accused actually charged with something. The lynch mob on this thread completely overlooks there have been no charges laid and hence no charges to answer.

IT IS A COMPLETE SCANDAL THAT THE SFO SEEMS TO BE JUSTIFYING STATUTORY MANAGEMENT BY "PLAYING" PUBLIC OPINION AGAINST ALLAN HUBBARD.

THE SFO HAS IRREPARABLY DAMAGED ALLAN HUBBARD'S BUSINESS AND REPUTATION WITH NO RIGHT OF REPLY OR ABILITY FOR HUBBARD TO FACE HIS ACCUSERS.

ADAM FEELEY IS A COWARD

SIMON POWER WILL ANSWER AT THE NEXT ELECTION

Those weak minded fools on this thread who are prepared to execute their form of justice without any reasonable due process have earned my everlasting contempt. If I want the opinion of a drunken rabble - I will certainly know where to come. However, it is the death of our system of justice that really concerns me. Minister Power certainly has alot to answer for on this.

[Balance]

LOL - Why do I get the feeling that Paul Carruthers and Enumerate are the same person?

Did you guys see the sun shining ever so brightly at 3.00am last night? In fact, last night was daytime.

[Danthetitan]

totally unverified from Stand by Hubbard
Friday 27th August 2010
Yesterday the board of South Canterbury Finance received two
investment offers, the first of which was significantly higher than the
other offer.
The higher offer was declined by the board of South Canterbury Finance in favour of the significantly lower offer.
...The higher offer, which was significantly higher than the offer the
board of South Canterbury Finance accepted, would have been very
beneficial to South Canterbury Finance and its Investors.
We fail to understand how or why the board of South Canterbury Finance arrived at this decision.

[Balance]

totally unverified from Stand by Hubbard
Friday 27th August 2010
Yesterday the board of South Canterbury Finance received two
investment offers, the first of which was significantly higher than the
other offer.
The higher offer was declined by the board of South Canterbury Finance in favour of the significantly lower offer.
...The higher offer, which was significantly higher than the offer the
board of South Canterbury Finance accepted, would have been very
beneficial to South Canterbury Finance and its Investors.
We fail to understand how or why the board of South Canterbury Finance arrived at this decision.

Delusional is too gentle a word to describe some of the characters on that site!