Two trustees have been caught up in the Financial Markets Authority's case against six former Hanover directors or promoters and are now trying to remove themselves from the proceedings.

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The Serious Fraud Office has confirmed it has laid 50 charges against failed Timaru financier Allan Hubbard, but his supporters are continuing to back the beleaguered businessman.

The head of a major financial industry body facing criminal charges for his part in allegedly misleading investors in a failed finance company may lose his position.

Pyne Gould Corp's security trustee has agreed to lend extra millions to Timaru-based South Canterbury Finance.