Jean Hubbard (r) shown with a supporter in 2010. Photo / NZME.
Jean Hubbard, the Timaru widow of Allan Hubbard who founded the now-failed South Canterbury Finance empire, has appeared as part of a land sale just approved by the Overseas Investment Office.
Retrospective consent has been granted for the $6.2 million sale of a block of Canterbury land in 2012, in
a deal with British and New Zealand interests.
Margaret Jane Hubbard, also known as Jean, was married to Hubbard, late founder of South Canterbury Finance.
The firm's 2011 collapse led to a $1.5 billion taxpayer bail-out. Her name has now appeared - along with the Ashburton District Council and British man Andrew Phillip Turney - as the vendors of two blocks of Canterbury land.
Assets involved were a stake in Balrath Partnership, listed as owning 780ha of land in the Canterbury rural area of Mayfair and a further 14ha at Arundel Rakaia Gorge Rd near Ashburton. Consent was given for assets to be sold to British and local interests - including Turney - for $6.2 million.
