Many farm businesses believed their loans were personally with Allan Hubbard, not Aorangi.

Allan Hubbard has offered to subordinate his own interests and make up any losses to investors.

Hubbard investors have been told they'll be paid three cents in the dollar this month, but will have to wait till next year for possibly another 20 cents.

Simon Botherway, accused of a conflict of interest in the Hubbard case, had no operational role in putting him into statutory management, says the Securities Commission.

Allan Hubbard believed his self-righteous hype - sadly, so did we.

It was the earthquake New Zealanders have been told for years to expect. And Christchurch got it.

Christchurch Mayor Bob Parker says there is "significant structural damage" to his city after this morning's 7.1 quake, with some eastern suburbs facing possible evacuation.

Dear Allan Hubbard. Please take responsibility for the mess created by the boom and now bust of the South Island's largest financial institution, writes Bernard Hickey.

Police and Fire Safety officers are investigating after a body was found in a burnt-out campervan in the South Island this morning.

Allan Hubbard's finance company is near receivership and is understood to be in last-minute talks with the Govt and overseas investors to avoid NZ's largest corporate collapse in decades.

South Canterbury Finance is likely to remain in a trading halt into next week as it awaits fresh capital.

South Canterbury Finance had its securities halted from trading on the NZX debt market pending an announcement on a new investor.

The value of some investments were overstated by at least 25 per cent.

Cabinet is bracing itself for the possibility that the SFO probe into Allan Hubbard will not find any evidence of complex fraud.