Mainzeal directors failed first step of a crisis, Supreme Court told

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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