New Zealand-based litigation funder LPF Group is calling on the insurance industry to support its call to have the courts award 100% of the successful parties’ actual costs so that, when justice is delayed, it does not advantage the wrongdoer.
Mainzeal liquidators Andrew Bethall and Brian Mayo-Smith are appealing the Court of Appeal ruling which found the directors’ decision to continue trading the company recklessly, while technically insolvent for nine years, did not result in a material loss to creditors. The directors include former prime minister of New Zealand, Dame Jenny Shipley. The liquidators are backed by the litigation funder LPF.
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