3c in the Dollar

No, it’s not the GST increase, it’s what Hubbard investors are getting back.

Investors in Allan Hubbard’s Aorangi Securities have been told they might get an initial repayment of up to three cents in the dollar later this month, but will have to wait till the middle of next year for any more.

The Government put South Canterbury Finance majority shareholder Allan Hubbard and his wife Jean under statutory management on June 20, with charitable trusts, Aorangi Securities, and later, Hubbard Management Funds.

That deserves a Tui Billboard – I was going for something more pithy, but this is almost a direct quote of what his supporters are saying, so I though it appropriate.

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