[The Society poses the question: When should the courts bankrupt a business woman and ban her from being a company director? Answer: when “the IRD believes allowing her to continue normal business activity will put the public at risk” and the action will serve the greater public good by helping to maintain the integrity of the New Zealand taxation system].
[May Wang] is “an insolvent dining at the table of a rich man, while her creditors’ receive the crumbs”. IRD lawyer, Nick Malarao.
NZ Herald Article by Kelly Gregor. 10 Nov. 2010
Crafar farm deal frontwoman May Wang has claimed more than $30 million in GST refunds for companies of which she is the director, a court heard yesterday. Wang is fighting Inland Revenue’s attempt to bankrupt her over a $1.3 million debt it is owed after the collapse of her property development company the Dynasty Group.