Bad loans to bars, hotels, furniture makers, property investors and even a state house builder wiped out at least $100 million from South Canterbury Finance.

Companies Office records show a group of failed companies owe SCF but recovery prospects are bleak.

In many cases, the companies have huge deficits and the taxpayer stands little chance of recovering money.

Attempts are now being made to sell Auckland's five-star luxury Hyatt and Hotel So in Christchurch to recoup some of the $1.7 billion taxpayer bailout to investors in SCF after the disastrous lending. Hyatt is SCF-owned and Hotel So owes SCF millions.

SCF took the risky end of many loans, taking a subordinated position so major trading banks can sweep in and scoop up whatever cash is available to the first-ranking charge-holder.

Some of the biggest losses are expected to come from disastrous loans to three companies behind Hotel So by developer Dave Henderson's Property Ventures.

Reports from BDO Christchurch, due last week, are late, but the receivers won't say when they will file. Losses could be up to $30 million.

Treasury's hopes of recovering some of the millions now rest in the hands of Dean Humphries, national director at Jones Lang LaSalle Hotels in Auckland, who has launched an international marketing campaign to quit Hyatt and So.

SCF's next-biggest failure was lending to Auckland developer Greg Olliver's Leefield Vineyards at Marlborough, which owes it $17 million. Commonwealth Bank of Australia lent $33 million.

Napier apartment developer Satuit Properties got $14.7 million of SCF cash, failed and SCF pushed it into the hands of receivers BDO Spicers Hawkes Bay. Satuit was converting a woolstore on Napier's waterfront into units.

SCF has worn big losses on Wanaka's upmarket Oakridge Resort by Par Hallberg, liquidators Ashton Wheelans & Hegan noting a $7.8 million deficit.

New Zealand Malt Whiskey Company got $2.9 million SCF cash for what was to be a unique tourist attraction in Oamaru's historic precinct. In February, it was evicted from its building. SCF has first registered charge over its land and buildings: a 24ha block in the rural Queenstown area at Gibbston Highway, and receivers WHK say its security takes priority over other creditors including Glengarry Hancocks.

Four bar businesses, on Princes Wharf and in Vulcan Lane, were sold as going concerns although SCF was owed $1.9 million.

Stuart Laurie's upmarket Bloom Furniture is in liquidation, owing SCF $1.2 million. Liquidators ShephardDunphy blamed falling sales in three shops after last March, more competition and the retail downturn. Bloom sold from Ngaio, Plimmerton and Newmarket and borrowed from ANZ National and Geneva Finance, suffering a $2.1 million all-up deficit subject to liquidation costs.

Buster Holdings of Nelson owes SCF $391,000, receiver Grant Meikle saying the debt is secured by a personal guarantee from owner Dennis Kale which is increasing "due to interest not being paid".

Clarke Barnes, a property investment business owned by Christine Clarke and Peter Barnes, got $297,000 SCF cash and $200,000 from the BNZ, its only assets being two apartments in Volt, the high-rise block at 430 Queen St, although they had mortgages registered on their titles. The deficit was undisclosed in liquidator Kim S Thompson's report.

The fall of a big Auckland house builder run by the Casey family also cost SCF at least $363,000. Various Tribro businesses hit the skids, liquidator John Whittfield attributing the fall to fast growth and speed of acquisitions.

Tribro associates were building new houses for Housing New Zealand when it went down, the places in streets between Dominion Rd and Mt Albert Rd.

Dean Bowden's Nelson Bays Concrete Contracting owes SCF just over $119,000 and is in the hands of receiver Patrick Norris, who initially hoped to sell it for $25,000 to $50,000 and said Nelson Building Society was also owed money.