Mainzeal liquidator facing off with related companies over tangled affairs

Wed, 25 Sep 2013

By Paul McBeth Sept. 25 (BusinessDesk) - The liquidator for the failed Mainzeal construction group is preparing to face off with several related entities over some “highly intermingled” transactions. BDO’s Brian Mayo-Smith, Andrew Bethell and Stephen Tubbs are chasing $46.6 million in related party debt in separate actions as they try to untangle the effects of two significant restructures two years prior to the collapse that had a “significant impact on related party positions,” they said in their second report. The liquidators have receive...

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