Leaky buildings, Chinese supply botch fell Mainzeal over just $20M

Wed, 06 Feb 2013

By Pattrick Smellie Feb 6 (BusinessDesk) - One of New Zealand's best-known commercial construction firms, Mainzeal, placed its operating business in receivership as a combination of leaky homes suits and a botched supply chain from China combined to take the company down. In a dramatic afternoon on New Zealand's national day, Waitangi Day, Mainzeal Property and Construction (MPC) was placed in the hands of receivers at the accounting firm, PwC. At the same time, the former Prime Minister Dame Jenny Shipley, former head of Brierley Investmen...

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