World
Former PM of New Zealand ordered to pay $3.9 million
Former prime minister is accused of taking so many loans that it became difficult to repay.
Wellington: New Zealand's Supreme Court has ordered former Prime Minister Jenny Shipley to pay $3.9 million with interest.
According to details, the court has pronounced this order for former prime minister’s involvement in the bankruptcy of a construction company.
Shipley was the first female Prime Minister of New Zealand from 1997 to 1999, she was the chairman of the board of a construction firm.
The company was put up for sale in 2013 after several years of financial difficulties.
The sellers of the company alleged that former Prime Minister Shipley and the directors had run the company in a manner that caused heavy losses.
Former prime minister is accused of taking so many loans that it became difficult to repay.
Supreme Court said in the order that the four directors and the former prime minister should pay 3.9 million dollars with interest to the lenders of the company.
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