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  • Risky loans followed guarantee
    South Canterbury Finance ramped up its risky real estate loans after it signed up to the Government's scheme that protected its investors' money, the company's chief executive Sandy Maier said last night.SCF went into receivership...
  • Finance and Banking
    As a source of steady income, trust companies had been taking loans off the books of banks and repackaging them up as trust products. China Banking Regulatory Commission ( "CBRC" ) became alarmed when the volumes grew too big and in early July, CBRC abruptly closed down the entire business by ordering trusts to halt all cooperation with banks.
  • SCF 'bad' loans may rise
    Speculation is rife that the $700 million of "bad bank" loans of failed South Canterbury Finance - now owned by the Government - may climb higher, adding to projected taxpayer losses. read more
  • Farmers with $250m in loans anxious about company's future
    South Canterbury Finance's collapse with hundreds of rural sector loans worth more than $250 million raises questions about the risk to the nation's agricultural engine room.The company said in its April prospectus that it had...
  • 'Bonfire' loans kill $1.8b South Canterbury Finance
    Taxpayers face a wait of up to four years to find out how much they will get back from their $1.8 billion bailout of South Canterbury Finance's depositors.
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