Save some some research
http://www.lostsoulblog.com/2010/04/...anterbury.html
Quote .... There seems to be a theme developing: SCF announces a transaction, and claims it shows a creditor or investor is showing confidence in SCF's prospects and future. Months later, when their prospectus or accounts come out, the full story emerges that the transaction was secured by prior charge on SCF's assets in some way or other, perhaps along with further impairments, losses or other bad news. I wonder how long it will take to find out what assets the latest convertible notes are secured over. As for the quality of the accounts themselves ... struth!
A complete disgrace ... those accounts are rubbish .... and us taxpayers do all we can to ensure they survive
The NZX should makes comment .... yeah right