Mainzeal directors lose appeal, liable for more than $40m
Liquidators vow to pursue directors, insurer QBE, after landmark directors’ duties Supreme Court decision following more than eight years of litigation.
A long-awaited Supreme Court decision in what has been dubbed the directors’ duties case of a generation has dismissed appeals from the four directors of failed construction company Mainzeal that they breached the Companies Act and ordered they are liable for more than $40 million.
The ruling
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