Mainzeal directors remain liable, payout overturned

Mainzeal directors remain liable, payout overturned
Former Mainzeal director Jenny Shipley at an event at the end of 2020.
Victoria Young
The court of appeal has ruled former Mainzeal directors including Richard Yan and former prime minister Jenny Shipley were liable for reckless trading ahead of the construction company's collapse. However, the judges say there was no actual loss as a result of this breach, so creditors will not be compensated for that.Instead, on appeal, the judges found a breach of another section of the Companies Act relating to directors’ obligations and said the high court must now work out how much should be paid for that. In Febru...

More Law & Regulation

New structure, powers for ComCom
Markets

New structure, powers for ComCom

Groceries, aviation, building supplies, digital services carparking all get a mention.

Agribusiness NCEA removal will 'impact economy'
Law & Regulation

Agribusiness NCEA removal will 'impact economy'

Meanwhile, accountants are pleased at the reinstatement of the subject at Level 1.

Auckland housing project withdrawn from fast-track
Policy

Auckland housing project withdrawn from fast-track

The developer plans to lodge a fresh application after draft decline.

ANZ agrees to record A$240m fine for widespread misconduct
Markets

ANZ agrees to record A$240m fine for widespread misconduct

ANZ has agreed to pay the largest penalty its Australian regulator has ever issued an entity in one go, due to failings in the bank’s dealings with both the Government and its retail customers.ANZ and the Australian Securities and Investments Commission (ASIC) will ask the Federa...

Staff reporters 15 Sep 2025