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The High Court dismissed an attempt by Lady Jenny Shipley and other leaders of the bankrupting construction company Mainzeal to challenge how their liability for millions of dollars in losses had been calculated.
Lady Jenny Shipley and other Mainzeal directors lost their case in the High Court for millions of dollars in losses incurred by the company.
Photo: RNZ
Earlier this year, the court had declared the director Richard Yan liable for $ 36 million, while Dame Jenny, Clive Tilby and Peter Gomm had been found jointly liable with Mr. Yan for $ 6 million for breach of their obligations.
The judge left the door open to the parties to challenge the amounts awarded.
The directors baderted that the manner in which the court badessed the losses suffered by the creditors of the company was exaggerated because it did not take into account the amounts likely to be recovered from the liquidation of Mainzeal.
At the same time, the liquidators asked the court to process their claim for interest in addition to the $ 36 million in damages.
But the judge rejected both claims, relying on his original decision.
The liquidators and administrators have filed an appeal and cross-appeal against the judge's decision, which should be heard by the Court of Appeal this year.
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