Cabinet to be briefed on Hubbard statutory management today

UPDATED MONDAY: Commerce Minister Simon Power has met with Crown prosecutors to discuss the Hubbard's case, Prime Minister John Key told TVNZ's Breakfast.

He said Cabinet would be updated when it met in Christchurch (to mark the one year anniversary of the start of the earthquakes) and added he did not know whether Jean Hubbard would be released from statutory management.

"We need to make our way through those issues and see what happens next," he said.

While Mr Key extended his sympathies to the Hubbard family, he also noted "But you'll appreciate there is also an awful lot of taxpayer money involved here and we are trying to protect the interests of the New Zealand taxpayer."

The statutory managers of Jean and the late Allan Hubbard have told the Hubbard family they will cover funeral costs for Mr Hubbard. Mrs Hubbard remains in Dunedin hospital with broken bones.

UPDATED SUNDAY: More details will emerge tomorrow but the SFO charges Allan Hubbard was facing are expected to be formally dropped. Crown prosecutors are reported to be meeting today.

The status of the staturory management of his and wife Jean's assets is not yet clear. The Hubbards were due to head to court this week to fight the order.

UPDATED 9AM SATURDAY: Police have released a statement confirming that 83-year-old Allan Hubbard of Timaru died following a head-on crash which occurred between a car and utility, early yesterday afternoon on State Highway One about 5km north of Oamaru.

Mr Hubbard was assessed at Oamaru Hospital before being airlifted to Dunedin Hospital, Police said.

Police received notification from Dunedin Hospital about 7pm last night that Mr Hubbard had died. Police cannot confirm media reports that he died in transit to hospital.

The police investigation continues as to the cause of the crash. It could take a number of weeks.

No information was given on Mrs Hubbard's condition. The driver of the ute was not seriously injured.

UPDATED 7AM SATURDAY: The Timaru Herald has reported Allan Hubbard (83) died on the way to hospital following a car crash around 1pm yesterday.

His wife Jean is understood to have been driving the car the Hubbards were travelling in when it was involved in a head-on crash with another vehicle.

UPDATED FRIDAY 7PM: A police spokesman has told NBR that the names of the couple involved are unlikely to be released tonight. He would not confirm the elderly couple involved was the Hubbards.

Oamaru police released a statement saying the accident occured on State Highway One about 5km north of Oamaru about 1pm today.

Police and emergency services attended and a crash investigator was called in to investigate. The road was closed.

FRIDAY 5PM: The Timaru Herald has reported Allan Hubbard and wife Jean have been involved in a serious head on car crash.