Mainzeal liability profoundly wrong, 'defeats Companies Act', court hears

Mainzeal liability profoundly wrong, 'defeats Companies Act', court hears
Jenny Shipley's lawyer is arguing Mainzeal's directors didn't breach the Companies Act.
Victoria Young
Two court rulings that former prime minister Jenny Shipley, Richard Yan and other Mainzeal board members had breached directors’ duties have created a “minefield for directors”, the supreme court heard today.The nation’s top court is hearing an appeal into whether directors should be liable for the construction company’s downfall. Mainzeal's liquidator has put the debt owed at $110 million. The court of appeal found the directors had traded recklessly and undertook obligations they shouldn’t have, br...

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