9 Oct 2011

Hubbard's daughter says he was hit by "perfect storm"

5:15 pm on 9 October 2011

One of Allan Hubbard's daughters has told his memorial service her father was hit by a perfect storm which lead to his financial difficulties.

Allan Hubbard, who was 83, died in a car crash last month.

The financier who was behind the embattled company South Canterbury Finance died while awaiting trial on 50 fraud charges laid by the Serious Fraud Office.

About 1000 supporters attended a public memorial service for him in Timaru on Sunday.

Mr Hubbard's daughter Lesley Limbe was the last speaker to address the crowd.

She said she wasn't going to go into the political aspects of her father's recent problems, but says she believes he was hit by a perfect storm.

"An unavoidable collision of powerful forces that lead to a disaster. For him it was the world's financial crisis of 2008, his significant health problems and a variety of personal and interpersonal ways of working created the storm that was such that it was impossible for him to navigate out of it," she said.