South Canterbury Finance Limited

[Beagle]

I suspect there will be a "no expense spared" final meal at Robbies Timaru tonight on the company credit card. Then the plug will be pulled. Its really not that hard a decision. Its just about making sure as many ducks are in a row before the inevitable axe falls. Sandy has done all he can now - there ain't anything left to be done. The receivers will be brought in to extract maximum value as there is no potential in resurrecting the corpse that once was a vibrant finance company

I agree, its riddled with so much toxic debt, in effect the cancer has spread past the point of no return.

AH has been putting out scrub fires since the GFC began, how else does anyone explain the exponential growth in related party transactions ?

The reality is he's now out of resources to the point where he has to committ fraud to make his private investment companies look satisfactory in a vain attempt to keep the Titanic afloat.

Game over for Mr Hubbard, he built his wealth off extremly high leverage and played the capital gains game on asset values. Its time for him to admitt defeat, the GFC has beaten him and now he's just a silly old fool who doesn't know when he's finished. He's become an embarrassment to the South Island now.