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Mainzeal - one of New Zealands largest construction companies - went into receivership in early February 2013 in a turn of events which appeared to come 'out of the blue'.

 

But it may be that their approach to resolution of leaky building problems may have contributed to the collapse.  Mainzeal had reportedly taken a proactive approach by fixing leaky building problems rather than going to court to battle out who was going to pay for problems. 

They may have been exposed to more claims following a law change. A Supreme Court ruling in 2012 means the law for residential and commercial buildings is the same, allowing for negligence claims on leaky commercial buildings.

Sources and more on this story:

NBR - Leaky buildings fell Mainzeal

Stuff.co.nz - Court decision hastens Mainzeals collapse

Stuff.co.nz - Mailzeal faces $93.5m in claims

PWC - update on Mainzeal receivership

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