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

NZ tradies take up $11,000 Aussie emigration offer
Economy

NZ tradies take up $11,000 Aussie emigration offer

Nearly 100 skilled NZers have submitted a claim since January.

Gregor Thompson 21 Mar 2025
Council development charge hikes ‘may be illegal’
Property

Council development charge hikes ‘may be illegal’

Auckland Council is trying to charge 2055 prices now, a new report finds.

Maria Slade 20 Mar 2025
Houses overheating from poor design not more insulation
Property

Houses overheating from poor design not more insulation

MBIE is reviewing 2023 building code rules increasing minimum insulation levels.

Greg Hurrell 17 Mar 2025
$150m Manukau Supa Centa up for sale
Property

$150m Manukau Supa Centa up for sale

It's considered the largest centre ever offered for sale in New Zealand.

John Anthony 17 Mar 2025