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South Canterbury Finance Ltd Information Release

Page updated 14 Apr 2011

Information release in response to Official Information Act (OIA) requests received by the Treasury and the Minister of Finance relating to the participation of South Canterbury Finance Ltd (SCF) in the Retail Deposit Guarantee Scheme, including the company's default and the triggering of the Crown guarantee.

The initial information release on 15 October 2010 included Treasury and Reserve Bank advice to Ministers; correspondence with South Canterbury Finance Ltd; reports and advice to the Treasury from external parties; and correspondence with Trustees Executors Ltd (the Trustee) and the receivers of South Canterbury Finance Ltd.

Links to material that has previously been released, such as signed deeds and Treasury advice to Ministers, are included for completeness.

The Reserve Bank of New Zealand also released material relating to South Canterbury Finance Limited on 1 November 2010. See: Reserve Bank of New Zealand Information release: South Canterbury Finance (Reserve Bank of New Zealand website).

The Treasury's second South Canterbury Finance information release on 14 April 2011 covers the entire period of SCF's participation in the Retail Deposit Guarantee Scheme and includes emails. Some new documents have been inserted in chronological order into the three sections initially published on 15 October 2010 and two new sections covering intervening periods have been created.

The Treasury has prepared a Chronology of South Canterbury Finance Limited in the Crown Retail Deposit Guarantee Scheme: scf-chronology-oct10.pdf (132 KB) (October 2010).

Sections of Documents

The Treasury's information release is organised into five sections of documents relating to the following periods:

Information Withheld

See Information Withheld from the SCF Release for an explanation of the grounds for withholding some information from this information release under the Official Information Act.

Contact for Enquiries

Enquiries from media:

Angus Barclay | Senior Communications Advisor
Tel: +64 4 917 6146
Email: angus.barclay@treasury.govt.nz

 

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