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Waterstone Insolvency

Waterstone Insolvency

Corporate & Personal Insolvency Specialists

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The Failure & Judgment of Mainzeal

Damien and Brent discuss the rise and fall of Mainzeal and the issues around the recent judgement.

 

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?

Audio Version

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