Commercial

Mainzeal case – highlights director responsibilities The recent high-profile Mainzeal case[1] has highlighted the importance for directors to know and understand their duties under the Companies Act 1993. Four of Mainzeal’s directors were found liable for $36 million in damages for breaching section 135 of the Act which is headed ‘reckless...

Can be a real risk for business When the Personal Property Securities Register (the PPSR) was established in 1999, most businesses were quick to catch on that it was a good idea to register security over goods that were sold under a line of credit. What wasn’t so easily...

As expected the government’s The Wellbeing Budget, presented by the Minister of Finance, the Hon Grant Robertson, on 30 May focussed very much on mental health and child wellbeing. The wider economy was looked after with increases in funding to KiwiRail, the establishment of a new venture capital...

Monday, 6 May 2019 is D-day Last year saw many changes in the employment law sphere, with the Labour-led government delivering on promises of reform in this area. Of particular significance are the changes incorporated into the Employment Relations Amendment Act 2018 that was passed late...

High Court provides useful guidance for subcontractors The collapse last year of Ebert Construction Limited took many in the construction industry by surprise, particularly its subcontractors who were owed retention moneys. In our Spring 2018 edition (No 50) we published an article on Ebert Construction and...

Directors have personal liability for company debt in liquidation A recent decision in the Court of Appeal[1] has made a director liable for almost $500,000 of company debt due to the company’s failure to keep adequate accounting records. The decision highlights the importance for directors to...