SCF was the biggest call on the government guarantee, under which the Crown stumped up about $2 billion and expects to write-off $1.1 billion. The Timaru-based lender was singled out in the ...

Under the Crown Guarantee Scheme, the Government would have to pay investors interest from when SCF defaulted to when the investors were actually repaid. With SCF, that rate could be up to 15 per ...

No cash will be paid to complete the acquisition, with settlement by way of the Crown releasing some of the debt that SCF owes after the Crown paid depositors $1.58 billion under the terms of the ...

The Crown is calling 40 witnesses to give evidence in the South Canterbury Finance fraud trial, which began today at the High Court at Timaru, and among the list is a who’s who of the agribusiness ...

SCF was the biggest call on the government guarantee, under which the Crown stumped up about $2 billion ... with the promise of a return of up to $6,000. The review has found that the phase ...

BUSINESSDESK: The Crown has clawed back $645 million of the $1.78 billion it stumped up to pay out depositors of South Canterbury Finance and is in negotiations to finalise its takeover of the failed ...