Mainzeal’s Richard Yan bankrupt

Richard Yan is now bankrupt in NZ. (Image: NZME)

Thu, 09 May 2024

More than a decade of litigation following the collapse of construction firm Mainzeal ended this morning with the bankruptcy of Richard Yan. The former Mainzeal boss had been found liable for trading while insolvent and ordered to pay almost $40 million alongside other directors Jenny Shipley, Clive Tilby and Peter Gomm. That came to more than $60m once interest was applied, according to liquidators BDO’s most recent report on the matter posted on March 22. While insurance had covered Shipley, Tilby and Gomm, the liquidator...

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