Du Val Group was 'technically insolvent' last September

Du Val Group was 'technically insolvent' last September
Du Val co-founder Kenyon Clarke. (Image: Du Val)
Brent Melville
Du Val Property Group’s financial forecasts show the firm's liabilities of $210 million exceeded its $188.6m in assets by $21.4m in September last year, which a lawyer for investors says made the firm technically insolvent at the time.The disclosure is in Du Val’s information memorandum (IM), prepared as an offer of shares for fund investors in December. The offer is structured to try to force investors, who have had interest payments frozen since October 2022, to swap their outstanding loans to the company to shares, effec...

More Property

Officials move on Richard Yan’s castle
Property

Officials move on Richard Yan’s castle

Richard Yan's extensive heritage property is being sold following his bankruptcy.

Tom Raynel 26 Jul 2024
Action against Hawkins directors stalled
Property

Action against Hawkins directors stalled

Proceedings by the failed group's liquidators relate to a leaky building claim.

Maria Slade 24 Jul 2024
Arvida buyout lifts retirement sector
Property

Arvida buyout lifts retirement sector

On Tuesday, Arvida traded volumes of $127 million. Its competitors followed suit.

Gregor Thompson 24 Jul 2024
The change of heart behind Arvida’s US private equity buyout
Property

The change of heart behind Arvida’s US private equity buyout

The company’s share price rose 55% after the announcement.

Gregor Thompson 23 Jul 2024