Du Val debts $237m: First report shows how far down the list investors are

Du Val debts $237m: First report shows how far down the list investors are
Du Val director Kenyon Clarke is still on the books, but others have departed. (Image, BusinessDesk)
Garth Bray
Du Val investors owed $41 million sit behind $18.6m in debt to unsecured creditors, a tax bill of $7.5m, employees owed $83,000 and $170.7m in secured creditors ranked ahead of them all. The first report of the statutory managers released today withholds the value of assets and liabilities in Du Val property development and notes discussions with China Construction Bank as the mortgagee of the Du Val Build To Rent Fund that “seeks to preserve and maximise the value in the properties”. Bowing outTwo Du Val directors stepped...

More Property

Liquidated brothel struggled with slow trade
Property

Liquidated brothel struggled with slow trade

One33 Vincent owes ‘north of $100k’ in rent, the liquidator says.

Kāinga Ora properties sit derelict while reviews continue
Property

Kāinga Ora properties sit derelict while reviews continue

The pared-back state housing agency must decide what to do with hundreds of projects.

Te Awa Lakes a good fast-track candidate
Property

Maria Slade: Te Awa Lakes a good fast-track candidate

Explanation of why some other projects made the list would be helpful.

Maria Slade 27 Jan 2025
Brothel goes into liquidation
Property

Brothel goes into liquidation

One33 Vincent had been in dispute with its landlord over covid-related rent arrears.

Maria Slade 23 Jan 2025