Mainzeal directors saddled with $39.8m penalty plus interest

Mainzeal directors saddled with $39.8m penalty plus interest
Jenny Shipley. (Image: NZME)
Paul McBeth
The supreme court has ordered the directors of Mainzeal to pay $39.8 million plus interest for letting the construction firm keep trading while insolvent while owing $110m to unsecured creditors, sheeting much of the blame on principal Richard Yan.About 17 months after the country’s highest court heard the appeal and more than a decade since Mainzeal’s collapse, Chief Justice Helen Winkelmann and Justice William Young delivered the 142-page judgment rejecting the appeal by directors Jenny Shipley, Clive Tilby, Peter Gomm and Yan.The...

More Infrastructure

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024