Du Val debt balloons to $306 million

Du Val debt balloons to $306 million
The shuttered Du Val Verge apartments site in Mt Wellington. (Image: Jason Dorday)
Maria Slade
The amount owed by failed property development group Du Val has grown to almost $310 million, the second statutory managers’ report reveals.On Thursday, the Government put up just over $1m to pay statutory managers’ PwC's fees until funds can be recovered from unwinding the complex group.PwC initially estimated the group owed around $240m, but its report on Friday said $306.36m was estimated owing to externally or to investors. This comprised $224.77m to secured creditors, $7.59m to preferential creditors, $10.18m to unsecu...

More Property

Liquidators flag ‘problems’ with Hart-funded developer
Property

Liquidators flag ‘problems’ with Hart-funded developer

The six-month report said unsecured creditors were facing losses exceeding $2.7 million.

Gregor Thompson 10 Oct 2025
Ryman HY sales down but improving 'more quickly than expected'
Property

Ryman HY sales down but improving 'more quickly than expected'

The retirement firm said it's tracking ahead of its full-year sales guidance.

Staff reporters 09 Oct 2025
Property sector welcomes quake reforms, savings vary
Property

Property sector welcomes quake reforms, savings vary

Kiwi Property says Minister Penk's reform will likely be beneficial to its business.

Gregor Thompson 09 Oct 2025
Bankrupt rugby rep accused of fraud
Property

Bankrupt rugby rep accused of fraud

Building systems company feels ‘betrayed’ by Damian O'Brien.     

Maria Slade 08 Oct 2025