Mainzeal receivers recoup $28.3 mln from asset sales, recoveries, distribute $3.6M to liquidators

Tue, 08 Apr 2014

April 8 (BusinessDesk) – Receivers for Mainzeal Property & Construction and Mainzeal Living recovered some $28.3 million from asset sales and recoveries in their first 12 months and made payments of $26.5 million, including settling outstanding wages and distributing surplus funds to the liquidators. Bank of New Zealand, which was owed $11.3 million as secured creditor of the Mainzeal companies, appointed PwC’s David Bridgman and Colin McCloy as receivers on Feb. 6, 2013. Liquidators were appointed to the entire Mainzeal group later that mont...

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