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Home arrow Articles by Topic arrow LandCo arrow 'Bad bank' sent another 20 firms to wall
'Bad bank' sent another 20 firms to wall PDF Print
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Articles - LandCo
Written by Anne Gibson, The New Zealand Herald   
Thursday, 02 September 2010

One of SCF's largest exposures was to a Marlborough vineyard venture by Auckland developer Greg Olliver.

South Canterbury Finance's "bad bank" was in a desperate last-ditch race for cash, tumbling a string of property and business empires as it entered its death throes.

SCF's receivership pitched at least 20 other companies into receivership as loans and interest slipped into default in the last year.

Full story...

Earlier, related story: Leefield winery finances examined
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