SCF receivership in last days having recovered $774.4M

Mon, 25 Mar 2013

By Paul McBeth March 25 (BusinessDesk) - The receivers for failed Timaru lender South Canterbury Finance will wrap up their administration at the end of the month, having clawed back $774.4 million in the two-and-a-half year administration. McGrathNicol's Kerryn Downey and William Black handed over the remnants of deceased business Allan Hubbard's empire to Crown Asset Management last year, and remained in office to wind up one more transaction, according to their latest report on the receivership. That has since been concluded and the rec...

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