South Canterbury Finance Limited

[Balance]

I'm not a reader of womans weekly Enumerate so I'll have to take your word for that. I heard that the investigation (in this particular case) was raised in front of a parliamentary Select Committee and used as an example of how government agencies are working together.

PS please don't ask me to read Womans Weekly to keep up with the real oil on Alan I'm going to struggle getting to the novel you've already recommended without further authoritative articles.

You are a bad boy (or gal?), Mini.

This is Enumerate's lastest attempt at humor and you took the wind off his sail.

Meanwhile, he carries the 'book' everywhere he goes now and quotes from it. Shudder!

[minimoke]

Owesome
I always look forward to my daily dose of SCF ranting after a hard day’s work and a few beers.
I’ve heard the best way to kill a thread is to accuse people of being Nazi’s and comparing them to Hitler.
Can I?
Pleeeease?

Its Godwins Law and I really do think Enumerate is the best to invoke that. Yours is probably a subordinated right to Enumerates senior investment. After all there are a few posters here whose extreme views (which run contrary to the AH Supporters Club) which are likely to be the tipping point for Enumerate. And why kill a great thread - its one of the others which just keeps on giving.

[minimoke]

Shorlist includes
· Aorangi Securities
· B'On Financial Services
· Bridgecorp
· Capital+Merchant Finance
· Dominion Finance
· Five Star
· Hanover Finance
· Kiwi Finance
· Nathan Finance
· National Finance
· South Canterbury Finance
· WSD Global Markets

Lets work through the list:

Aorangi - Due for review. $90 - $110m. so out of frame.
B'On financial Services $29m decision on charges due early in Dec - In Frame
Belgrade - $20m under investigation. partly in frame
Bridgecorp - Charges already laid - out of frame
capital and Merchant $167m under investigation. Sum too large partially in frame.
Dominion - Investigations continuing out of frame
Five Star - guilty pleas already - out of picture
Hanover - investigation only just upgrade - out of frame
Kiwi - Only $1.7 - out of frame
Nathan - $174m too high not enough evidence out of frame
National - $20 m sentencing done - out of frame
SCF - thats billions not millions so out of frame
WSD - too early out of frame.

So the scaffolds won't be going up in Timaru tomorrow

[Enumerate]

... he carries the 'book' everywhere he goes now and quotes from it. Shudder!

Two points, Balance.

When did I last quote from:

Allan Hubbard: A Man Out of Time
Author Green, Virginia
ISBN 9781869794828

How would you know I am quoting when you haven't read the book?

The Japanese have an art form, expressed in terms of printed woodblock pictures, called Ukiyo-e (literally "pictures of the floating world"). Balance, you seem to actually inhabit an equally fantastical world in which bare faced opinion and rumour are accorded the same standing as holy verities and eternal truths. Maybe you should float off and inhabit that other financial floating world - Aussie small cap mineral producers. Roger has gone there - he seems happy, in his way.

... please don't ask me to read Womans Weekly to keep up with the real oil on Alan I'm going to struggle getting to the novel you've already recommended without further authoritative articles.

I fear the only thing you do read on the matter is from the tabloid business press. If you need to understand why Australia is better place to do business try comparing the NBR with TheAustralian.

The thread is awash with tittle tattle from the Aorangi and SCF Receivers reports. There is no concern that no financial statements of any substance have been published. The "analysis" is packaged for release by press conference as the "investigations" continue - as theatrical exercises.

This new style Adam Feeley SFO - with it's American DA swagger - will not do.

It is a pity that bread and circuses seem to be enough to amuse the plebeians on this thread. However, the real and fundamental issues remain.

[winner69]

Wonder if there will be live TV coverage of the 'arrest' today .... hasn't been anything exciting on TV for a few days

Just imagine ..... a posse of cop cars with lights flashing and sirens going chasing a VW down SH1 at 40kph .... great TV eh

[Balance]

SFO now making no sense whatsoever.

30 Nov 2010 - "The Serious Fraud Office (SFO) has finished investigating Timaru businessman Allan Hubbard and is near to making decisions. SFO chief executive Adam Feeley told the Timaru Herald newspaper that the investigation was no longer active. "We are weighing up a few things," he said. "We have said all along this should be concluded by Christmas and as each day passes we are getting nearing to a conclusion.""

9 Dec 2010 - "Prominent legal and accounting experts will be needed to complete the investigation into former South Canterbury Finance boss Allan Hubbard, says Serious Fraud Office boss Adam Feeley. Anyone involved would be vetted to ensure no conflicts of interest existed. "If we are to get through with the speed that I think the public reasonably expect, and with a level of detail into what are very complex transactions, we will need the assistance of some very prominent people within both the accounting profession and the legal profession," Mr Feeley said."

[Beagle]

I don't get Feeley's theatrical manner. Why make a big song and dance about a big arrest the day before it happens. Is he that desperate to prove to the world his worth ?

In normal cicumstances don't the regulators just get on with the arrest and announce it afterwards ? e.g. Madoff... oh I can't remember, did the SEC grandstand that as well, maybe Feeley is following their lead ?

Seems a bit of a desperate attempt to say, "look at us, we're doing a great job" job insecurity perhaps ?

[winner69]

Just shows you dodgy people live in remuera and not timaru

Liquidators report on B'On is hilarious .... well done SFO in working out it was fraud .... good one

http://www.business.govt.nz/companie...4490B250ECDB33

[Balance]

Oh wow! That was a hard one for the SFO to work out, wasn't it?

[Awamoa]

It looks like todays arrest is Capital and Merchant directors.
This will disappoint the lynch mob.