Mainzeal liquidation racks up $523k in legal fees as court battles drag

Thu, 27 Mar 2014

By Paul McBeth March 27 (BusinessDesk) - The liquidators of the Mainzeal Group of companies have racked up $523,000 in legal fees since taking on the administration, as they face several court battles with the failed construction firm’s principal, Richard Yan. BDO’s Brian Mayo-Smith, Andrew Bethell and Stephen Tubbs are seeking about $46.6 million in related party debt stemming from two significant restructures in the two years leading up to Mainzeal’s collapse, as they try to claw back funds to pay unsecured creditors. The legal fees have...

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