Bankruptcy threat looms for Mainzeal directors

Two of the Mainzeal directors, Jenny Shipley and Richard Yan. (Image: NZME)

Mon, 25 Sep 2023

The liquidator of the failed Mainzeal construction group will pursue bankruptcy proceedings if the directors holding the $60 million can for unpaid debts don’t cough up the money. In the latest update lodged with the Companies Office, liquidator Andrew McKay of BDO said the firm had received the supreme court ruling in its favour and has made a demand of the directors to pay the judgment sum of $39.8m, plus interest that was estimated at $20.9m at the time of the ruling. The supreme court last month unanimously found&n...

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