Mainzeal directors should have seen 'writing on the wall'

Lawyer for Mainzeal's liquidators, Mark O'Brien QC (Photo: Supplied)

Wed, 09 Mar 2022

Several former directors of Mainzeal failed to recognise the crisis the company was in and continued to trade because of “vague assurances” that its Chinese parent company would pay back $44 million worth of loans, the supreme court was told today.The comments follow arguments from a lawyer representing the former directors that they didn’t trade recklessly because the assurances were clear and definite, despite being neither formalised nor honoured.The directors appealing two court rulings against them are former Prime M...

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