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![Bad lending led to Sth Canterbury's downfall - Key](/pf/resources/images/placeholders/placeholder_l.png?d=796)
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=796)
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=796)
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=796)
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.
![Govt pays $1.7bn to Sth Canterbury trustees](/pf/resources/images/placeholders/placeholder_l.png?d=796)
Govt pays $1.7bn to Sth Canterbury trustees
The Govt has already made a $1.7bn payment to the trustees of South Canterbury Finance, which today called in the receivers.
![English cancels trip as Hubbard decision looms](/pf/resources/images/placeholders/placeholder_l.png?d=796)
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=796)
<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.
![<i>Liam Dann: </i> Allan Hubbard owes New Zealand an apology](/pf/resources/images/placeholders/placeholder_l.png?d=796)
<i>Liam Dann: </i> Allan Hubbard owes New Zealand an apology
Allan Hubbard owes NZ an apology. Whatever happens from here it is clear that his failure as a businessman has put hundreds of millions of tax payer dollars at risk.
!['No certainty' on restructure, Sth Canterbury tells NZX](/pf/resources/images/placeholders/placeholder_l.png?d=796)
'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=796)
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.
![South Canterbury Finance trading halt likely to persist](/pf/resources/images/placeholders/placeholder_l.png?d=796)
South Canterbury Finance trading halt likely to persist
South Canterbury Finance is likely to remain in a trading halt into next week as it awaits fresh capital.
![SC Finance in trading halt](/pf/resources/images/placeholders/placeholder_l.png?d=796)
SC Finance in trading halt
South Canterbury Finance had its securities halted from trading on the NZX debt market pending an announcement on a new investor.
![Statutory managers confirm shortfall in Hubbard Funds](/pf/resources/images/placeholders/placeholder_l.png?d=796)
Statutory managers confirm shortfall in Hubbard Funds
The value of some investments were overstated by at least 25 per cent.