The door opened by Mainzeal ruling

The door opened by Mainzeal ruling
Former Mainzeal director Jenny Shipley. (Image: The Office of the Governor General)
Victoria Young
While providing clarity for directors’ duties for the Companies Act provisions in play at Mainzeal, one legal expert points out a door may have opened for bigger awards under other reckless trading rules.Mainzeal’s liquidators had used sections 135 and 136 to sue the construction company’s former directors, and the supreme court awarded almost $40m against Richard Yan, Jenny Shipley, Clive Tilby and Peter Gomm, plus interest.The top court mostly cemented the lower courts' findings and decided the amount the directors neede...

More Law & Regulation

Auckland flagship guides SkyCity through troubled waters
Markets

Auckland flagship guides SkyCity through troubled waters

IH net profit was $22.5m, down 1.3% on the year. 

Monopoly slugfest: Air NZ vs Auckland airport
Infrastructure

Monopoly slugfest: Air NZ vs Auckland airport

The national carrier trades more blows with NZ's gateway airport.

Pattrick Smellie 21 Feb 2024
Colin Rath won't be pursued over potential director duties breach
Finance

Colin Rath won't be pursued over potential director duties breach

He's also had another nine months added to his sentence.

Riley Kennedy 21 Feb 2024
Property managers need to be reined in, realtor organisation says
Property

Property managers need to be reined in, realtor organisation says

Unregulated industry has few checks and balances and bond fraud is 'common'.

Brent Melville 20 Feb 2024