225:
Richina owned company, King Facade Ltd, went into voluntary liquidation. On 28 February 2013 Mainzeal
Property & Construction Ltd and other companies in the group were placed into liquidation – making a total of twelve companies in liquidation. The companies now under the control of the liquidators were: Mainzeal Group, Mainzeal Property and Construction, Mainzeal Living, 200 Vic, Building Futures Group Holding, Building Futures Group, Mainzeal Residential, Mainzeal Construction, Mainzeal, Mainzeal Construction SI, MPC NZ, RGRE. By 9 April, the company had only 14 full-time staff left, down from 500.
163:
240:, which found that although the directors had breached their duties, this had not caused any actual loss to creditors. However, the Court found that the directors had breached other duties by entering into obligations while insolvent. The Court sent the matter back to the High Court to reach a decision on the total amount of liability, as it did not have enough information to assess the amount owing. An appeal to the
224:
On 6 February 2013 Mainzeal
Property and Construction went into receivership, leaving workers and subcontractors locked out of worksites. On 13 February 2013 receivers took control of Vic 200 Ltd, the company that owns Mainzeal's head office building in central Auckland. In the same week another
145:
property and construction companies until being placed into receivership on 6 February 2013 and then being placed into liquidation on 28 February 2013. According to its website, Mainzeal was involved in delivering $ 7.5 billion of construction projects across New
Zealand. It was held by
720:
220:
Vero appointed the MWH Mainzeal joint venture as their preferred partner in their efforts to rebuild
Canterbury. In 2011 Mainzeal expanded its services to include facilities management and entered the residential market with a division called Mainzeal Living.
712:
208:
In 2006 Mainzeal experienced some financial setbacks, posting large losses associated mainly with the Scene One, Scene Two and Scene Three apartment developments in the
Auckland CBD and the nearby 12,200-seat
1067:
1057:
236:
36 million in penalties for breaching directors' duties and carrying on in a manner likely to create a substantial risk of serious loss to creditors. In March 2021 this order was overturned by the
205:(retaining the Mainzeal name for its construction unit) and started investing in China, where its owners saw major business opportunities. Richina Pacific delisted from NZX in January 2009.
645:
746:
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26:
213:
in Quay Park. The losses on these projects were recovered, with
Mainzeal's pre-tax earnings reaching US$ 1.6 million surplus compared to US$ 2.8 million loss in the previous year.
321:
671:
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964:
904:
515:
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343:
641:
1072:
201:
The
Richina holding company was created when Mainzeal acquired a New Zealand leather business (since sold) and in 1996 it changed its name to
693:
311:
1013:
667:
927:
713:"Mainzeal directors liable for reckless trading but overturn $ 36m penalties, Court of Appeal calls for legislation review"
615:
747:"Mainzeal could have gone 'down the gurgler at any time', during directors' 'policy of insolvent trading' - court told"
862:
797:
585:
416:
563:
830:
449:
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244:(which Mainzeal built) resulted in a ruling in August 2023 that the directors were liable for $ 36m in damages.
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154:, an independent and closely held New Zealand-headquartered Asia Pacific holding company.
124:
Construction, Interiors, Project
Definition, Infrastructure, Facilities Management, Living
8:
835:
178:, an Australian company, to develop 7 acres (28,000 m) of harbour-front land in the
119:
344:"Mainzeal Property and Construction Limited | Insolvency Watch – Solvency Matters"
284:
162:
167:
36:
773:"Former prime minister Dame Jenny Shipley's Mainzeal Supreme Court appeal fails"
109:
1051:
987:"Mainzeal directors lose appeal but unsecured creditors still owed thousands"
389:"Christopher Niesche: Being all over the place is normal for Richina Pacific"
210:
179:
46:
259:
142:
84:
71:
25:
277:
1068:
Construction and civil engineering companies disestablished in 2013
198:
in 1975 following a restructure by Peter
Menzies and Langer Avery.
65:
265:
1058:
Construction and civil engineering companies established in 1968
368:
Mainzeal (from the
Mainzeal website). Retrieved 16 January 2012.
377:
About Us (from the Richina website). Retrieved 16 January 2012.
271:
828:
1063:
Construction and civil engineering companies of New Zealand
1041:
194:, a publicly listed New Zealand company, adopting the name
925:
952:
926:
Burgess, Dave & Newton, Kate (24 November 2009).
919:
822:
530:
386:
694:"Mainzeal workers slashed to 14 full-time from 500"
190:was established from this base and in 1969, became
958:
887:
855:
790:
829:Fairfax NZ News; Stuff website (1 January 2009).
497:
469:
408:
380:
1049:
895:"NZDF give $ 30m contract to expand Ohakea base"
1014:"Beyond Mainzeal and into 'the twilight zone'"
503:
414:
961:"HVDC Pole 3 Project Wins Two Safety Awards"
477:"Richina gains 15pc after Mainzeal recovery"
447:
309:
831:"Mainzeal wins contract for $ 250m brewery"
539:"Residential Building with Mainzeal Living"
536:
232:ordered Mainzeal's former directors to pay
928:"$ 4m cut in Kilbirnie sports centre bill"
24:
1078:New Zealand companies established in 1968
668:"Mainzeal liquidators delay first report"
161:
642:"Mainzeal collapse creates aftershocks"
450:"Mainzeal takes loss on major projects"
166:Mainzeal managed the demolition of the
1050:
843:from the original on 23 September 2016
710:
648:from the original on 24 September 2015
417:"Directors need a message to cough up"
174:It was founded in 1968 as a branch of
139:Mainzeal Property and Construction Ltd
1073:2013 disestablishments in New Zealand
967:from the original on 13 December 2011
959:Transpower website (11 August 2011).
810:from the original on 27 November 2010
770:
744:
740:
738:
574:from the original on 19 December 2013
518:from the original on 16 November 2011
506:"Quake city needs army of rebuilders"
441:
429:from the original on 19 December 2013
387:Niesche, Christopher (6 March 2006).
616:"Mainzeal subcontractors locked out"
596:from the original on 6 February 2013
19:Mainzeal Property & Construction
940:from the original on 24 August 2023
622:from the original on 24 August 2023
504:Frances, Helen (16 November 2011).
324:from the original on 24 August 2023
312:"Red ink reins in builder Mainzeal"
303:
287:Pole 3 Project Haywards and Benmore
192:Mainline Corporation of New Zealand
13:
907:from the original on 18 March 2016
735:
723:from the original on 31 March 2021
14:
1089:
1035:
1011:
875:from the original on 4 March 2016
700:. 9 April 2013 – via Scoop.
674:from the original on 9 March 2013
586:"Mainzeal goes into receivership"
247:
1005:
979:
863:"Hospital contract to Mainzeal"
764:
704:
686:
660:
634:
608:
556:
564:"Mainzeal enters receivership"
415:Gaynor, Brian (3 April 2010).
371:
362:
336:
254:Fisher & Paykel Healthcare
1:
771:Stock, Rob (24 August 2023).
711:Hurley, Sam (31 March 2021).
537:Horan, Noel (December 2011).
448:Gibson, Anne (2 March 2006).
310:Gibson, Anne (5 March 2006).
296:
218:Christchurch earthquake, 2010
291:Supreme Court of New Zealand
262:Integrated Beverage Facility
188:Mainline Contractors Pty Ltd
184:Mainline-Dillingham-Fletcher
7:
745:Stock, Rob (9 March 2022).
10:
1094:
903:. NZPA. 20 December 2010.
798:"F&P chooses Mainzeal"
157:
148:Richina Global Real Estate
114:Richina Global Real Estate
1044:(Parent company homepage)
806:. NZPA. 9 November 2010.
230:High Court of New Zealand
128:
118:
108:
98:
90:
78:
60:
52:
42:
32:
23:
196:Mainzeal Corporation Ltd
141:was one of the largest
900:The New Zealand Herald
868:The New Zealand Herald
803:The New Zealand Herald
590:The New Zealand Herald
511:The New Zealand Herald
485:. NZPA. 30 August 2006
482:The New Zealand Herald
455:The New Zealand Herald
422:The New Zealand Herald
394:The New Zealand Herald
317:The New Zealand Herald
171:
165:
871:. 10 November 2009.
644:. 16 February 2013.
176:Mainline Corporation
836:Fairfax New Zealand
618:. 7 February 2013.
592:. 6 February 2013.
570:. 6 February 2013.
150:, which is part of
100:Number of employees
20:
1018:businessdesk.co.nz
172:
18:
1012:Young, Victoria.
933:The Dominion Post
543:Mainsite Magazine
285:HVDC Inter-Island
280:ASB Sports Centre
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993:. 25 August 2023
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670:. 6 March 2013.
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350:on 13 April 2013
346:. Archived from
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268:Hospital Upgrade
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132:www.mainzeal.com
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238:Court of Appeal
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203:Richina Pacific
170:in Christchurch
168:Clarendon Tower
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37:Private company
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1036:External links
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1021:. Retrieved
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698:BusinessDesk
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676:. Retrieved
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352:. Retrieved
348:the original
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326:. Retrieved
315:
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274:MSS Building
227:
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215:
211:Vector Arena
207:
202:
200:
195:
191:
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183:
180:Auckland CBD
173:
151:
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138:
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94:Construction
61:Headquarters
47:Construction
33:Company type
15:
1042:Richina Inc
1023:30 December
997:30 December
782:30 December
756:30 December
626:10 February
260:Lion Nathan
182:as part of
152:Richina Inc
143:New Zealand
85:New Zealand
80:Area served
72:New Zealand
1052:Categories
971:12 January
944:12 January
911:12 January
879:12 January
847:12 January
814:12 January
600:6 February
578:6 February
548:13 January
522:13 January
489:19 October
461:19 October
433:13 January
400:19 October
297:References
278:Wellington
256:building 3
717:NZ Herald
678:24 August
652:24 August
328:25 August
120:Divisions
965:Archived
938:Archived
905:Archived
873:Archived
841:Archived
808:Archived
721:Archived
672:Archived
646:Archived
620:Archived
594:Archived
572:Archived
516:Archived
427:Archived
354:13 March
322:Archived
91:Services
66:Auckland
43:Industry
727:1 April
266:Rotorua
158:History
129:Website
53:Founded
272:Ohakea
110:Parent
777:Stuff
751:Stuff
568:Stuff
1025:2023
999:2023
973:2012
946:2012
913:2012
881:2012
849:2012
816:2012
784:2023
758:2023
729:2021
680:2023
654:2023
628:2013
602:2013
580:2013
550:2012
524:2012
491:2011
463:2011
435:2012
402:2011
356:2013
330:2023
234:NZ$
56:1968
991:RNZ
283:NZ
104:500
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1016:.
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897:.
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737:^
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
