Former New Zealand prime minister ordered to pay $3.9 million after company collapse

Former New Zealand Prime Minister Jenny Shipley has been ordered by the country’s highest court to pay NZ$6.6 million ($3.9 million) plus interest as compensation for her role in the collapse of a construction company, a judgement released Friday said. Shipley was New Zealand’s first female prime minister holding the role from 1997 to 1999. The liquidators of the company bought charges against Shipley and directors Richard Yan, Clive Tilby and Peter Gromm, arguing they had let the company operate in a way that created a risk of serious loss to creditors and took on debts that could not reasonably have been repaid.