Liquidators have today been appointed to eight companies within the South Canterbury Finance Group.
PricewaterhouseCoopers announced John Fisk and David Bridgman as liquidators to the group, which went into receivership on August 31 2010 owing about $1.8 billion.
The liquidations are the final step in the collapsed group's insolvency process, following the sale of the remaining non-cash assets to Crown Asset Management Limited last week.
A review of the eight companies will be carried out and liquidators will be looking to maximise returns to creditors, said Mr Fisk.
A statutory report will be provided to all known creditors of each company within the next five working days.