No interest payments this month for Aorangi securities (Read about it in tomorrows paper)
Presumably because the freeze!
And another important day to today for AH. In his press statement re Aorangi he said: "In the past month I have been working on finding a solution to South Canterbury Finance affairs and hope to arrange an agreement with an overseas company, subject to confirmation by June 30 to inject a large amount of capital which would place South Canterbury Finance in a secure position for the future."
And another important day to today for AH. In his press statement re Aorangi he said: "In the past month I have been working on finding a solution to South Canterbury Finance affairs and hope to arrange an agreement with an overseas company, subject to confirmation by June 30 to inject a large amount of capital which would place South Canterbury Finance in a secure position for the future."
Will there be an announcement today?
A bit hard to accomplish when you've been banned from having control of your own business affairs - and even your credit card and cheque book confiscated!
A bit hard to accomplish when you've been banned from having control of your own business affairs - and even your credit card and cheque book confiscated!
Absolutely - I would say that AH is now hamstrung in this respect, and won't be able to make an announcement (if he has done a deal).
Another reason why it is silly of those that are claiming the Stat Mgt of AH does not affect SCF.
A bit hard to accomplish when you've been banned from having control of your own business affairs - and even your credit card and cheque book confiscated!
I'm not sure the Stat Man would stop AH from working on / discussing a deal. I doubt that whatever party he was talking to would have been a one-on-one discussion. There would have been several people involved and one of them would have the credit card to pay for lunch.
Clearly he wouldn't be able to negotiate / sign off any recovery Capital Plan - but then he wouldn't have done that prior to the Stat Man anyway. If he hadn't been put under Stat Man I would have thought that he and SM would have done a joint press release - Sandy fronting it and AH in the background wearing the cloak of "President For Life". I don't think there is much to stop that from happening today if a deal could be done.
What is likely to happen though is that any potential Saviour will have been scared off by the Stat Man - and again the regulators ought to have known that was a risk to SCF when the Stat Man was decided. The alternative is that the Stat Man will, understandably, be a major distraction for AH which will delay his ability to be part of any discussions.
Almost right minimoke .... I think that AH was playing too hard and protecting his own personal interests rather than the interests of the whole empire ..... with the Stat Man now doing the deciding maybe any negotiations SCF were doing might have just become a bit easier .... but AH obviously won't be buying the drinks
Almost right minimoke .... I think that AH was playing too hard and protecting his own personal interests rather than the interests of the whole empire ..... with the Stat Man now doing the deciding maybe any negotiations SCF were doing might have just become a bit easier .... but AH obviously won't be buying the drinks
You are the only one who actually gets it, I think. No way would Diplock and co have acted on the word of one guy from Waimate. They would only act in this manner on the word of someone they trust. I think you know who that person was.
No way would Diplock and co have acted on the word of one guy from Waimate. They would only act in this manner on the word of someone they trust.
Welcome to fascist New Zealand.
Do you actually think Diplock is calling the shots?!?
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
Do you actually think Diplock is calling the shots?!?
Hmm - nearly time to invoke Godwins Law and get this thread closed down. But to be fair you could perhaps see if there is any analogy between AH southern Advocates and those pulling Diplocks strings.
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Originally Posted by temuk
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