Widow of the late SCF financier dies
The woman who stood by Timaru financier Allan Hubbard as his empire crumbled has died.
A family member of Jean Hubbard confirmed her death yesterday. No further details were available and the family has requested privacy.
Margaret Jane Hubbard, who was known as Jean and in her late 80s, was the wife of the late Allan Hubbard, the man behind South Canterbury Finance which collapsed on August 31, 2010, triggering a $1.6 billion taxpayer bailout.
Allan Hubbard died in September 2011, after the car he was a passenger in collided head-on with a four-wheel-drive utility towing a trailer, about eight kilometres north of Oamaru.
He was flown to Dunedin Hospital, but died on the way.
Jean, who was driving at the time of the crash, suffered fracture injuries.
At the time of the crash the Hubbards were subject to statutory management.
One of the Hubbards’ most vocal supporters, John Funnell, who administered the Help Allan Hubbard support group, was pivotal in supporting the couple after they were placed in statutory management.
Allan helped set up Funnell’s rescue helicopter business in the North Island more than 30 years ago.
Funnell was saddened to learn of Jean’s death.
‘‘Jean was always there in the background.
‘‘The thing that stuck out about Jean, and Allan, was the way they went out of their way to help others.
‘‘When they were in receivership and their accounts were frozen, a group of us had raised some funds to help them out but they insisted we use the funds to help those investors out who were owed money.’’
Funnell described the couple as a ‘‘package’’. ‘‘Everything I heard about them was good.
‘‘It was their old school business ethics that helped so many people.’’