Is Severe Headache A Sign Of Pregnancy They involve the scope and application of duties under ss 135 and 136 of the Companies Act 1993 the 1993 Act provisions that address the interests of creditors and how compensation for breach of these duties should be assessed
Ave the ability to meet the assurances On 25 August 2023 the Supreme Court upheld the findings of the Court of Appeal awarding compensation similar to the High Court and finding the directors had breached section Aug 25 2023 nbsp 0183 32 The Supreme Court has today released its decision in Yan v Mainzeal Property and Construction Limited in liquidation Mainzeal upholding the Court of Appeal s finding that Mainzeal s directors were liable for insolvent trading and ordering Mainzeal s directors to pay 39 8 million plus interest with the liability of three of the four
Is Severe Headache A Sign Of Pregnancy
Is Severe Headache A Sign Of Pregnancy
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Aug 25 2023 nbsp 0183 32 The liquidators of Mainzeal brought proceedings against the company s directors alleging that they breached their duties to the company and its creditors under sections 135 and 136 of the Companies Act 1993 May 20 2014 nbsp 0183 32 There were no grounds to exercise the Court s discretion to decline to put the company into liquidation 10 Mr Yan challenges these findings on appeal and raises a further issue in relation to the appointment of the BDO liquidators for RGREL contending that they have a conflict of interest
Aug 25 2023 nbsp 0183 32 The Supreme Court has released its decision in the claim against the former directors of Mainzeal upholding the Court of Appeal s decision 5 July 2012 Mainzeal s financial position was such that that the directors did not have reasonable grounds to believe that any obligations entered into after that time would be met
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An application has been made by RGREL to set that judgment aside 1 2 3 Mainzeal Property and Construction Ltd in rec and in liq v Richina Global Real Estate Ltd 2014 NZHC 277 Mainzeal v RGREL Aug 31 2023 nbsp 0183 32 The Supreme Court found Mainzeal s directors breached the Companies Act as follows Section 135 prohibits directors from allowing the business to be carried on in a manner likely to create a substantial risk of serious loss to the company s creditors
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