2 Apr 2013

Mainzeal creditors' meeting in Auckland

7:13 am on 2 April 2013

Mainzeal sub-contractors and former staff will learn more about the likelihood of getting paid money they are owed by the former construction company at a creditors' meeting in Auckland on Wednesday.

Mainzeal went into liquidation in February and owes about 1300 subcontractors and hundreds of former staff more than $24.5 million.

The liquidator, BDO, is holding a meeting for all creditors at the Ellerslie Event Centre in Auckland at 2.30pm on Wednesday.

Specialist Trade Contractors Federation president Graham Burke says he is hoping to get a solicitor appointed to a creditors' committee at the meeting to represent sub-contractors affected by the company's closure.

"We would like to make sure that the interests of our members are represented with the liquidators and especially given that most of our members are actually unsecured creditors. It's early days yet but the general assumption is that there won't be any money for unsecured creditors."