Allan Hubbard’s woes continue, as the Government places two more entities owned by the Timaru businessman into statutory management.

Churcher Trust Management and Forresters Nominee Company join Aorangi Securities and seven charitable trusts already under outside control.

Commerce Minister Simon Power says the moves follows a recommendation by the Securities Commission after it received a report from the statutory managers of Aorangi Securities.

Last week two other firms – The Temple Bar Family Trust and Barns Charitable Trust – were placed in statutory management on recommendation from the Securities Commission.