Jenny Shipley says Mainzeal directors in "no doubt" about Chinese financial support

Mon, 15 Oct 2018

By Nikki Mandow Oct. 15 (BusinessDesk) - Directors of failed construction firm Mainzeal had no reason to question promises from its Chinese parent the company would get the financial support it needed to stay afloat, former Prime Minister Jenny Shipley told the High Court today. Mainzeal went into liquidation in February 2013 after Chinese company Richina Pacific didn’t provide the final funding it needed and the Bank of New Zealand pulled the plug. Mainzeal owed at least $115 million to unsecured creditors, many of them subcontractors...

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