Direct Agreements – Back from the dead?

In what will be a relief for contractors, the Court of Appeal has overturned the High Court decision, and held that payments made to contractors by financiers pursuant to a direct agreement are not voidable transactions recoverable by a liquidator. While some may see this as a return to the previous position there are a…

Mainzeal – End of an era (Receivership)

Mainzeal was one of the largest construction companies in New Zealand when it was put into receivership in 2012, liquidation followed shortly afterwards. Fast-forward five years and the receivership stage process has just been completed with the Receivers retiring on 15 May 2017. The completion of the Receivership means that the secured creditors (bank) and…

Steel mesh allegations head to court

The Commerce Commission have announced today that 29 charges for making false and misleading representations have been filed against Steel & Tube. The charges relate to representations made about steel mesh products between 1 March 2012 and 6 April 2016. The charges allege that Steel and Tube made misleading representations on their batch tags, batch…