Mainzeal’s Yan staves off bankruptcy proceedings - again

Fri, 10 Jul 2020

Former Mainzeal director Richard Yan has fended off bankruptcy proceedings yet again. A High Court judge said today that while Yan was clearly wealthy by New Zealand standards, he couldn’t work out whether he had enough to the pay $18 million he was ordered to pay in 2019. The liquidator for Mainzeal sought to bankrupt Yan, having won a $36 million judgment against Yan and other former directors of the construction firm. Yan, who has been resident in China since 2016, has not paid personally to secure the sum awarded against him as the pa...

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