Du Val Group was 'technically insolvent' last September

Du Val co-founder Kenyon Clarke. (Image: Du Val)

Mon, 12 Feb 2024

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...

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