PwC appointed Receivers to Mainzeal

Thursday, 7 February 2013, 9:51 am
Press Release: PricewaterhouseCoopers

PwC appointed Receivers to Mainzeal Property and Construction Limited and associated entities

[6 February 2013]

Colin McCloy and David Bridgman, Partners from PwC, today have been appointed Receivers to Mainzeal Property and Construction Limited and associated entities as a result of a request made by its director to BNZ.

Mainzeal’s Director, Richard Yan advised that following a series of events that had adversely affected the Company’s financial position coupled with a general decline in major commercial construction activity, and in the absence of further shareholder support, the Company could no longer continue trading.

Receiver Colin McCloy says "we are committed to doing the best we can for the suppliers, staff and subcontractors of Mainzeal. We will work closely with all parties involved with Mainzeal contracts to determine the best way forward."

A dedicated page on the PwC website can be found at pwc.co.nz/mainzeal. It will be updated as appropriate.

-End-

Business Headlines | Sci-Tech Headlines

BUSINESS, SCIENCE & TECH > >

GDP: Chch Rebuild And Drought Lead To Modest Economic Growth

Gross domestic product (GDP) rose 0.3 percent in the March 2013 quarter, with the Canterbury rebuild and the 2013 drought having offsetting effects... This modest growth in economic activity follows a rise of 1.5 percent in the December 2012 quarter. More>>

ALSO:

Scoop Business - NZ economy grows at half expected pace in 1Q on drought
NZ Govt - Growth continues despite drought

Metservice: Where Will Snow Fall And What To Look Out For

Wednesday: The deep Antarctic air that is expected to sweep across the country this week is bringing very significant weather to many provinces.Here's the official MetService view of the key weather concerns for the country... More>>

ALSO:

MetService - Winter storm still on track
Image Out-Link - 3 day Rain Forecast - Weather Radar Imagery, Rain Forecasts and more from MetService.com
Civil Defence - Civil defence information about snow and other storms
Unison Networks - Unison Advises Customers to Prepare for Power Outages
Orion NZ Limited - Orion Prepares For Stormy Weather In Canterbury
NZ Police - Weather blast may pose hazard for drivers
NZ Red Cross - Red Cross Prepares for Severe Weather Conditions
Christchurch City Council - Council advises to leave out your wheelie bins - Banks Peninsula should conserve water during bad weather - Council ready to assist throughout bad weather
Otago Regional Council - Otago flood conditions update 1700 19/6/13 - Otago people urged to be prepared for snowstorm
Canterbury Civil Defence - Be prepared for hazardous winter conditions
Dunedin City Council - First the Rain, Then the Snow?
Canterbury DHB - Canterbury Health System - Snow Update 1

The Remarkables - 'Best snow conditions in years
The Civilian Out-Link - Snow Watch 2013

Sky Loses To Coliseum Bid: TVNZ Scores Free TV Rights For English Premier League

TVNZ has confirmed it is partnering with Coliseum Sports Media to bring TV coverage of football’s Barclays Premier League to Kiwi sports fans. TV ONE will present a match of the week game every Sunday from the start of the season. The channel will also broadcast an hour long highlights show on Monday nights. More>>

ALSO:

Out-Link - The future: be careful what you wish for • Hard News • Public Address

Company Fails To Provide Records: Initial Action Over $4-An-Hour Wage Claims

The Ministry of Business, Innovation and Employment has filed action with the Employment Relations Authority (ERA) in Auckland against an Auckland restaurant chain following complaints that workers are being paid less than $4-an-hour. More>>

Greens: Fonterra To Avoid Drilling-Waste Farms

Fonterra has released information to Radio New Zealand detailing costs of $80,000 a year to test milk from a few farms which have been used as sites for drilling waste from the oil and gas industry and it announced a policy not to collect milk from any new land farms. More>>

ALSO:

Climate Justice Taranaki - "Good on Fonterra"
Audio Out-Link - Radio NZ : Fonterra to stop taking milk from some farms

Earlier:

Greens - Fonterra should suspend milk from oil and fracking land
Organic NZ - Toxic Fracking Waste Entering Food Supply?
Federated Farmers - Taranaki political opportunism appals farmers

Beer: Tuatara Set To Grow With New Investor

In a sale sealed over ale, Tuatara Brewing Company has announced it has sold a 35 percent stake in the business to a Wellington-based investment company. Rangatira Limited paid an undisclosed sum for its share which will see Tuatara are look to increase exports to the United States and boost production volume. More>>

ALSO:

Scoop Business - Rangatira buys 35% stake in Tuatara Brewing
Tuatara Brewery - Tuatara Gains Cornerstone Shareholder - Rangatira Limited

Stat! New Statistics NZ Chief Executive Appointed

State Services Commissioner, Iain Rennie, today announced the appointment of Liz MacPherson to the position of Chief Executive of Statistics New Zealand and Government Statistician. Ms MacPherson is currently Deputy Chief Executive, Strategy and Governance at the Ministry of Business Innovation and Employment (MBIE). More>>