-
South Canterbury Finance - Source: ONE News -
Related
Some businesses are wasting no time in capitalising on the South Canterbury Finance situation.
Although the company went into receivership on Tuesday, depositors and stockholders have been covered by the government's deposit guarantee scheme.
The Treasury has already paid the trustee meaning thousands of New Zealanders will be getting a cheque pretty soon.
The majority of investors are located in Canterbury and that will mean a sudden cash injection into the economy.
Brokerage firm Forsyth Barr has taken out an advertisement in the Christchurch Press today specifically targeting SCF investors.
It says it is holding a seminar in a couple of weeks advising them on where now to re-invest their thousands.
People holding preference shares and majority shareholder Allan Hubbard are out of pocket though.
