SFO SCF INVESTIGATION IS HOTTING UP

And its NBR that the SFO is after. They want all the transcripts, tapes and documents into the dodgy saga over the ownership of the Hyatt Hotel.

Well done them. Media watchers will be taking a huge interest in how NBR plays this. They need to maintain the protection of their sources. However they are also facing some very heavy penalties if they don't comply with the SFO request for info.

And we reckon that the story clearly indicates that there really was something rotten at the core of SCF.

IS NGAI TAHU SEREPISOS NEW BESTEST FRIENDS?

Okay, while there doesn't seem to be too much surprise that Ngai Tahu is eyeing up the good pickins from the carcass of South Canterbury Finance apparently they are also mucking around in the Capital as well.

Sources say that Ngai Tahu picked up some high profile debt of about $10million for what in financial terms looks like a song.

So does this mean us southern white chocolate Ngai Tahu beneficiaries will get free tickets to see the Phoenix???

NGAI TAHU STILL BIDDING FOR A SLICE OF HUBBARDS PIE

Due Dillgence boys - due diligence...

While we were not overly surprised that Ngai Tahu is putting up a serious bid for some of the Hubbard baubles that still had a bit of a shine on them, we are still a bit concerned, as apparently are some of those at the Top Table. According to our sources the deal is still live. There is considerable nervousness about this deal and there was also considerable surprise that the details had been leaked.

Questions are being asked about just where those leaks have come from and this time it does not look like the info, that ended up in the hands of Labour party leader in waiting David Cunliffe, came from the cuzzies.

There remains considerable risk with the Hubbard portfolio, as we understand that there are still many unknowns. So we hope that everyone proceeds with caution.

We dont want to end up owning few choppers and a couple of farms if they are not long term strategic assets with viable long term returns.

However, some of the assets do present some real opportunities, so as we said before, due diligence boys, due diligence.

HUBBARD LOVERS - SPEND $89 AND WEEP

NBR has a fascinating yarn this morning about freezing workers and really flash hotels and big loans from South Canterbury finance.

Its behind the paywall but its worth the $89 bucks for a 6 month subscription just to read it.

If you still believe there were no dicky dealings in South Canterbury Finance after reading this then you are a financial pygmy.

CACTUS'S BEST YET - SOUTH CANTY FINANCE - READ AND WEEP.

Cactus really should take more time off. Everytime she ceases blogging for the while - she comes back with a show stopper....

Todays marathon effort is about South Canterbury Finance.. Read it.. but set aside some time - its a big fulsome read.

Well done her

BEST FACEBOOK COMMENT OF THE DAY

Mike King So, it took Maori 25 years to get one billion dollars in treaty settlements, yet it only took 25 minutes for Pakeha to get 1.6 billion dollars...? WTF? How does that work?