The receivers for South Canterbury Finance are moving to sell on the company’s core assets.

McGrathNicol has appointed the local branch of Deutsche Bank as sale advisor for South Canterbury’s branch network and subsidiaries.

Receiver Kerryn Downey says the complexity of the company means it needs to work closely with advisors to ensure the best possible return for the Crown and other stakeholders.

The formal sale process won’t start until the first quarter of 2011.