Datasouth debt 'commercially sensitive'

Amount owed South Canterbury Finance veiled in secrecy

Receivers for failed office equipment lender Datasouth Finance have drawn a veil over the size of its debt to South Canterbury Finance, saying it was ''considered to be commercially sensitive information'', despite a Serious Fraud Office probe and reports the debt could be as large as $26 million. Datasouth Finance is a related company to IT firms Datasouth Business Solutions, Datasouth Technology Services and Datasouth.

In their first report to creditors yesterday, Stephen Tubbs and Colin Gower of accountacy firm BDO in Christchurch said there was unlikely to be any money for unsecured creditors, principally the IRD.

For more details, see Reseller News.

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