Forsyth Barr and South Canterbury Finance

Well-respected independent stockbroker, Chris Lee, has written a newsletter with interesting comment about the role of Forsyth Barr (of Forsyth Barr Stadium fame) in the demise of South Canterbury Finance. Note that it is the New Zealand taxpayer who will suffer the losses in SCF's collapse, just as it is the Dunedin rate-payer who will bear the cost of the Stadium.