In addition on April 17, ASF announced that they would suspend all new lending. A notice from Managing Director John Thomas said:
“While ASF does not source its funding from the global capital markets it is nevertheless still indirectly impacted by the turmoil and this directs us to adopt and implement a more conservative approach to lending.”
According to Stuff, Sentinel in New Zealand (owned by the ASF group) has also pulled back from new lending.
ASF has also announced that Jeff Kennett has resigned as Chairman of the board, effective immediately.