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![<i>John Armstrong</i>: A textbook example of crisis management](/pf/resources/images/placeholders/placeholder_l.png?d=795)
<i>John Armstrong</i>: A textbook example of crisis management
Watching John Key and Bill English dispose of South Canterbury Finance was a bit like watching a python swallowing an antelope.
![Rich lister's fund gets paid first](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Rich lister's fund gets paid first
A private equity fund is to receive a $100m taxpayer-funded payout from the Govt in order to make the receivership of South Canterbury Finance run more smoothly.
![South Canterbury bailout bill: $405 each](/pf/resources/images/placeholders/placeholder_l.png?d=795)
South Canterbury bailout bill: $405 each
The Govt yesterday paid $1.775bn - or $405 for every person in NZ - to take control of failed moneylender South Canterbury Finance's assets.
![SCF took more risks under govt guarantee, Maier says](/pf/resources/images/placeholders/placeholder_l.png?d=795)
SCF took more risks under govt guarantee, Maier says
South Canterbury Finance's exploiting of a Govt guarantee "violated a lot of prudent lending criteria", its CEO says.
![Bad lending led to Sth Canterbury's downfall - Key](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Bad lending led to Sth Canterbury's downfall - Key
South Canterbury Finance got into trouble by lending money to people who couldn't pay it back and on assets that have no value.
![Hubbard speaks out - Govt to blame](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Hubbard speaks out - Govt to blame
Allan Hubbard is blaming Government regulations for the failure of South Canterbury Finance.
![No Sth Canterbury fire sale - English](/pf/resources/images/placeholders/placeholder_l.png?d=795)
No Sth Canterbury fire sale - English
Finance Minister Bill English says its quick payout to cover losses by South Canterbury Finance investors will mean "minimal disruption" to the wider economy.
![Govt pays $1.7bn to Sth Canterbury Finance](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Govt pays $1.7bn to Sth Canterbury Finance
The Government has this morning paid out $1.7 billion to cover investor losses from the collapse of South Canterbury Finance.
![English cancels trip as Hubbard decision looms](/pf/resources/images/placeholders/placeholder_l.png?d=795)
English cancels trip as Hubbard decision looms
Bill English cancelled an overseas trip and John Key last night refused to rule out an injection of taxpayer funds as the Govt grappled with the fate of South Canterbury Finance.
![<i>John Armstrong:</i> Key walks a tightrope over ailing finance firm](/pf/resources/images/placeholders/placeholder_l.png?d=795)
<i>John Armstrong:</i> Key walks a tightrope over ailing finance firm
John Armstrong writes that John Key must reassure investors that their cash is safe, while minimising the taxpayers' burden.
![English delays trip to handle SCF fallout](/pf/resources/images/placeholders/placeholder_l.png?d=795)
English delays trip to handle SCF fallout
Finance Minister Bill English has postponed his departure overseas to deal with stricken South Canterbury Finance.
![English delays trip to handle SCF fallout](/pf/resources/images/placeholders/placeholder_l.png?d=795)
English delays trip to handle SCF fallout
Finance Minister Bill English has postponed his departure overseas to deal with issues that could follow tomorrow's announcement on the future of South Canterbury Finance.
!['No certainty' on restructure, Sth Canterbury tells NZX](/pf/resources/images/placeholders/placeholder_l.png?d=795)
'No certainty' on restructure, Sth Canterbury tells NZX
South Canterbury Finance has told the NZX "there can be no certainty" its recapitalisation and restructuring proposals will be successful.
![Deadline looms on $1.5b collapse bill](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Deadline looms on $1.5b collapse bill
Taxpayers are facing a bill for $1.55bn unless South Canterbury Finance can be pulled from the brink of failure before tomorrow night.
![Deal could still save SCF - Hubbard](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Deal could still save SCF - Hubbard
South Canterbury Finance needs a new backer or a government bail out to avoid receivership.
![Hubbard supporters appeal to PM](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Hubbard supporters appeal to PM
Supporters of businessman Alan Hubbard have written to John Key urging him to reconsider the Government's approach to inquiries into Mr Hubbard's affairs.