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Information release

South Canterbury Finance - Repayment Information for Depositors - Retail Deposit Guarantee Scheme

Issue date: 
Monday, 1 November 2010
Status: 
Superseded
Corporate author: 

South Canterbury Finance was placed into receivership on 31 August 2010, triggering the Crown guarantee. Please read the media statement by Gabriel Makhlouf, Treasury’s Deputy Chief Executive: All South Canterbury Finance depositors to be repaid under Crown guarantee (31 August 2010)

Disclaimer: The information on this web page is provided for general guidance only. The full terms of the relevant deed signed by South Canterbury Finance Limited (not the terms of these guidance notes) are the rules that govern the Crown's guarantee and its obligations to eligible depositors.

South Canterbury Finance Preference Shares

South Canterbury Finance Preference Shares are not eligible for repayment under the Crown guarantee. The preference shares are subordinated unsecured securities, which means they are excluded, and always have been excluded, from coverage by the Crown guarantee.

Summary of the Repayment Process

The Crown paid all depositors (via the Trustee) on 31 August 2010. The Trustee sent money to bond holders on 23 September 2010 and to debenture holders and depositors on 20 October 2010.

If you have questions in relation to your payment, please call Computershare Investor Services (the Trustee’s paying agent) on their toll-free telephone number: 0800-222-061.

Documents

See the South Canterbury Finance listing in the list of Approved Institutions, for access to the deeds and other documents relating to South Canterbury Finance's participation in the Crown Retail Deposit Guarantee Scheme.

Contacts for Enquiries

Enquiries from depositors:

South Canterbury Finance Limited Claims Helpline | Operates Monday to Friday, 9am - 5pm
Free phone: 0800 222 061
Web: www.treasury.govt.nz/economy/guarantee/retail/claims
Last updated: 
Monday, 1 November 2010