Crafar farms sold for a third their value by the receiver - Michael Stiassny?

"The receivers of Crafar Farms sold 7893 hectares to Chinese investors for $200 million which equals $25,338 per hectare.

The South Canterbury Finance receivers sold SCF's 33.6% share in Dairy Holdings, valued at $535 million, for $54.6 million.

(33.6% of $535 million is $178 million - not $54.6 million).

Dairy Holdings owns 14,243 hectares, which means that the 33.6% stake equals approximately 4747 hectares.

This means that the directors of Dairy Holdings purchased Alan Hubbard's/SCF's 33.6% share for $11,502 per hectare.

So.......the Chinese paid $25,338 per hectare, but the Kiwi's paid $11,502 per hectare, and the taxpayer (you and me) foot the bill for the shortfall.

Allan Hubbard is DEAD and milk solid payouts are at a record high anyway, so he can't be blamed.

On this basis, the Chinese investors have been screwed over just as much as Kiwi taxpayers.

What is wrong with this picture...?

Just to be clear, the 33.6% is not valued at $535m, the whole of Dairy Holdings is valued at $535m. 33.6% = $178m, so why did they sell the 33.6% for $54.6m? That's less than ONE THIRD of it's value!" - Captain Carruthers

- Then there's the matter what's really going on regarding South Canterbury Finance.

Kiwisfirst editor Vincent Seimer ended up in Mt Eden after he exposed Michael Stiassny and Korda Mentha.

Latest reports from NBR refer to "Stiassny's Racing Board faces damages claim in"pokie pub fraud" case", and "Stiassny's racing board accused of trying to cover it's butt".