Battle over Du Val begins, with other secured lenders likely to act

Du Val founders Kenyon and Charlotte Clarke are in interim receivership. (Image: Supplied)

Thu, 08 Aug 2024

Insolvency experts say there will likely be a flurry of action from lenders against failed property developer Du Val following the Financial Markets Authority’s move on the group last week.On Friday, the High Court placed 64 Du Val entities and its founders, Charlotte and Kenyon Clarke, in interim receivership at the market regulator's request.Commercial lawyer David Friar said that a secured creditor usually appoints receivers under their security agreement with the company in question.However, the regulator also had powers unde...

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