The Supreme Court has brought the Mainzeal saga to an end by holding the directors liable and awarding compensation of $39.8 million (plus 10 years of interest). The outcome effectively endorses the lower courts' criticisms of the directors' conduct and awards a similar amount of compensation to that of the High Court in February 2019.
New Zealand, Company & Commercial, Compliance Management, Insolvency & Restructuring, Litigation, Russell McVeagh, Corporate governance