Mudslingers Unite
By
I know more than many what it’s like to be attacked and accused of things falsely. It is both unpleasant and can be very highly destructive to your emotional health and relationships.
So when I heard about Allan Hubbard being done over I felt terribly for him.
Thanks to Kieran Trass it now appears there may be a very sinister side to this whole issue.
Kieran’s recent release is copied below, not so much for your information, but in the hope that some of my readers may be in positions of influence to make sure this is bought out into the open.
Have been watching with interest the developments of the Hubbard/South Canterbury Finance Ltd (SCF) case…
Allan is NZs wealthiest financier (worth @$500M) with an impeccable reputation and record of 60 years in the industry, has supported over 30,000 NZ businesses, donated many millions of $ to charity and it appears his empire is under seige…
Background
A) Hubbard owns most of Sth Canterbury Finance Ltd (SCF)
B) Hubbard also owns several charitable trusts and a company called Aorangi Securities Ltd (AOS). All of the trusts and AOS were recently placed into statutory management by the government after a single investor made a compalint… (AOS has over 400 investors).
The Scandal
It would appear that a group of ‘heavy hitters’ may be attempting to muscle Allans wealth from him… using none other than government authorities to support their cause… possibly for the purposes of eventually folding those assets into the proposed ‘Heartland Bank’.
The basic concept appears to be to muscle Hubbard out of SCF and discredit him.
The Smoking Guns
It appears there are several potential conflicts of interest surrounding the matter including:
1) Simon Botherway of the Securities Commission.
Botherway of the Securities Commission (which recommended Allan and Jean Hubbard) be placed in statutory management is also the brother of a businessman placed in receivership by SCF last year.
A formal complaint has now been made to the Ombudsman in relation to Botherways potential conflict
2) Trevor Thornton of Grant Thornton Accountants
Grant Thornton are the appointed statutory managers of Hubbards charitable trusts and AOS…
Trevor Francis THORNTON of 345 Withells Road, Christchurch is a Shareholder and Director of GRANT THORNTON LTD
Trevor Francis THORNTON of 345 Withells Road, Christchurch also has a shareholding in PROTEUS HOLDINGS LTD which has a shareholding in SECON TECHNOLOGIES LTD which is a shareholder in…
SOUTH CANTERBURY FINANCE LTD
It is likely a complaint will be lodged with the Ombudsman in relation to Thorntons potential conflict
3) Sandy Maier temporary CEO of SCF
Maier stated in a press release on 29th Dec 2009
“Alan’s desire to support the business was not totally altruistic. Alan believes this is a very good business,” Maier said.
WIKIPEDIA DEFINITION OF ALTRUISTIC
Altruism (pronounced /ˈæltruːɪzəm/) is selfless concern for the welfare of others… Altruism is the opposite of selfishness.
It seems odd that the CEO of SCF would utter such words about the cornerstone shareholder…
In contrast just read the glowing testimonials on Allans impeccable reputation at http://www.standbyhubbard.org/?page_id=10
Allan Hubbard has not lost 1c of investors funds in 60 years…
What You Can Do To Help
Please read what REAL people are saying about Allan on the facebook page titled ‘Leave Allan Hubbard Alone’ and please support his cause.
http://www.facebook.com/group.php?gid=126760207363172&v=wall&ref=search”
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