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Media Statement South Canterbury Finance Depositors still covered by Crown Retail Deposit Guarantee

20 Jun 2010

All eligible South Canterbury Finance Ltd depositors remain covered by the Crown Retail Deposit Guarantee, Treasury Director of Financial Operations Dr Brian McCulloch confirmed today.

"The announcement today that Aorangi Securities Limited, Mr Allan James Hubbard, Mrs Margaret Jane Hubbard and various charitable trusts have been placed into statutory management does not apply to South Canterbury Finance,” Dr McCulloch said.

"The Retail Deposit Guarantee Scheme is not affected by today’s action," Dr McCulloch said.

ENDS

News media contact:

Angus Barclay | Senior Communications Advisor
Tel: +64 4 917 6146
Mob: +64 (0)27 337 1102
Email: angus.barclay@treasury.govt.nz
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