No interest payments this month for Aorangi securities (Read about it in tomorrows paper)
Presumably because the freeze!
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No interest payments this month for Aorangi securities (Read about it in tomorrows paper)
Presumably because the freeze!
And another important day to today for AH. In his press statement re Aorangi he said: "In the past month I have been working on finding a solution to South Canterbury Finance affairs and hope to arrange an agreement with an overseas company, subject to confirmation by June 30 to inject a large amount of capital which would place South Canterbury Finance in a secure position for the future."
Will there be an announcement today?
I'm not sure the Stat Man would stop AH from working on / discussing a deal. I doubt that whatever party he was talking to would have been a one-on-one discussion. There would have been several people involved and one of them would have the credit card to pay for lunch.
Clearly he wouldn't be able to negotiate / sign off any recovery Capital Plan - but then he wouldn't have done that prior to the Stat Man anyway. If he hadn't been put under Stat Man I would have thought that he and SM would have done a joint press release - Sandy fronting it and AH in the background wearing the cloak of "President For Life". I don't think there is much to stop that from happening today if a deal could be done.
What is likely to happen though is that any potential Saviour will have been scared off by the Stat Man - and again the regulators ought to have known that was a risk to SCF when the Stat Man was decided. The alternative is that the Stat Man will, understandably, be a major distraction for AH which will delay his ability to be part of any discussions.
Almost right minimoke .... I think that AH was playing too hard and protecting his own personal interests rather than the interests of the whole empire ..... with the Stat Man now doing the deciding maybe any negotiations SCF were doing might have just become a bit easier .... but AH obviously won't be buying the drinks
Welcome to fascist New Zealand.Quote:
Originally Posted by Capitalist
Do you actually think Diplock is calling the shots?!?