Mainzeal was a large construction firm that went into liquidation in 2013 owing $110m to creditors.
The liquidators pursued the directors through the High Court, who were found to have been recklessly trading.
The judgment found the directors liable for $36 million.
Damien and Brent discuss Mainzeal’s situation and answer some key questions:
- How did the company ended up owing $110 million to creditors?
- Was there any preventative action that could have been taken?
- What does the High Court judgement mean for directors and creditors moving forward?