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

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
Government looks to sell 35 homes in Waikanae
Policy

Government looks to sell 35 homes in Waikanae

Ministry to pay $21.5m and on-sell homes after developer triggers underwrite.

Oliver Lewis 21 Jan 2025
Clarkes hand over 'certain items' to Du Val receivers
Property

Clarkes hand over 'certain items' to Du Val receivers

The failed property group's founders had until Wednesday to front up with the assets.

Maria Slade 16 Jan 2025
Analysts expect RV companies to raise equity
Property

Analysts expect RV companies to raise equity

“We expect investor support for a capital raise," Jarden's Arie Dekker said.

Gregor Thompson 15 Jan 2025