Allan Hubbard uses the $1,000, per week, the Statutory Manager gives him out of Allan's own money, to help those investors in Aorangi who are in distress due to the Statutory Manager freezing all scheduled payouts.
The money is there, as Allan has always said. It was a viable business, until the government agent started running it.
Such is the measure of the man.
Compare this with Petricevic, Bryers, Watson and Hotchkin ... the point has been made, before, that their extravagant lifestyles are in stark contrast to the way Mr Hubbard conducts himself. Have any of these men acted like men? It would be well within their means to compensate and redress - when, it is certainly true, they have much to compensate and redress.
Mr Hubbard, on the other hand, has no reason to check his conscience - he has behaved impeccably before and during this crisis. Yet he is the one, even with limited means, to redress and overcome harm caused by others.
SCF, according to the Trust Deed, maintains sufficient assets as security for the various debenture holders.
In my view, the most valuable form of security that can apply to any SCF investment is the knowledge that you have the backing of Allan Hubbard's integrity.
This, in my view, is much more valuable that an government guarantee.