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)
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.