Those NBR comments are heating up a bit .... accusations of the supporters being SCF employees and one guy going to sue another
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Those NBR comments are heating up a bit .... accusations of the supporters being SCF employees and one guy going to sue another
So with the $75m loan facility and new $22m thats Torchlight with a bit of skin in the game. They clearly have plans and in the meantime SCF appears to be doing what it can to present a set of accounts that meet a variety of interests requirements. It probably had to take the money from Torchlight since their prospectus expired on Wednsday and doesn't look like it will be up again until the Auditors have signed it off. And is it $300m they still need?
Hi Winner,
Sorry for confusing things!
I agree - Torchlight might rank top inside Southbury (I have no idea what the situation is in there), but in SCF the equity injection is all positive for other investors (debenture, bond, and preference share holders).
Alan.
Just as well Easter falls when it does this year .... gives then a few extra days to get their interim report completed .... surely they will have it completed by next Friday .... surely they wouldn't let the NZX suspend trading
Announcement today:
interest.co.nz
Looks like they'll be around for a while longer ;-)
Perhaps that why the didn't rush out a new prospectus.
Alan.
Can anyone confirm if the interest payment went through on the SCFHA (and wasn't immediately reversed)?
Link from NBR :
http://www.lostsoulblog.com/2010/04/...her-south.html
So, looks like more debt rather than real equity.
But good news for SCF RETAIL depositors re extended government guarantee.
Looks like it.
Treasury certainly did not want to trumpet the extension, did they? Releasing the news late on the eve of a major 4 day holiday to ensure minimal media coverage and serious scrutiny - so typical of governments and companies trying to hide bad news.
So what's the bad news ......