The Institute of Directors is backing calls for a review of insolvency laws, following a Court of Appeal ruling on the failed construction company Mainzeal.
The Court of Appeal says the current insolvency law is unsatisfactory and needs to be reviewed.
Photo: RNZ / Rebekah Parsons-King
However, it ruled the directors breached a separate part of the Companies Act by entering into new contracts with various parties in 2011 while the company was unable to meet its obligations.
It has sent the case back to the High Court to determine damages on that count.
The Court of Appeal commented that the current insolvency law was unsatisfactory and needed to be reviewed to provide a clear and coherent regime that protects creditors.
Mainzeal court case throws Companies Act into limelight
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Personal millions at stake as Mainzeal directors win and lose
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Dunedin City Council s CEO Sandy Graham looks for integrity, adaptability and good communication when interviewing candidates. People don’t realise how broad their skills are, she says, and adaptable people are an advantage to organisations having to make do with less money in a Covid-19 world. She advises people – in particular women – not to undersell themselves in a job interview, and to be authentic. When she’s interviewing people, she likes to have a conversation on top of the standard questions, giving them a chance to be at their best. When recruiting, she always wants to do the final interview face to face. There’s something that you miss in remote interviews that you just can’t quantify, she says.