Du Val liquidation hearing to proceed despite FMA raid

Du Val kicked its construction firm off the Mountain Vista Estate job. (Image: NZME)

Tue, 06 Aug 2024

A liquidation hearing involving Du Val’s former construction subsidiary is set to proceed on Monday despite regulators swooping on more than 60 of the property group’s companies.On Friday, the High Court placed 64 Du Val entities and the group’s two founders, Kenyon and Charlotte Clarke, in interim receivership at the Financial Markets Authority's (FMA) request.The regulator and police entered the Clarkes’ Remuera home early on Friday morning carrying filing boxes and canisters.Meanwhile, the High Court at Hamilton i...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Bloomberg Opinion

US bonds have never been risk-free, and never will be

It will still be a low-risk asset and in high demand.

Bloomberg 5:00am

World

Morocco volunteers on Sahara clean-up mission

Some 50 people, gloved and equipped with rubbish bags, toiled away for five hours.

AFP 5:00am

Morocco volunteers on Sahara clean-up mission

On the Money

On The Money: Passports, road love and more ...

Our weekly round-up of things you didn't know that didn't make the news.

Pattrick Smellie 5:00am

On The Money: Passports, road love and more ...

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Property

Property

RoofBuddy founder's previous venture was liquidated

RoofBuddy sponsors the New Zealand Warriors NRLW franchise.

Gregor Thompson 24 Apr 2025

Property

JLL to close debt advisory unit

Global commercial real estate firm Jones Lang LaSalle (JLL) is offshoring its debt advisory division, a month after it announced it would downsize its New Zealand footprint. The Australian Financial Review (AFR) reported on Tuesday evening that JLL is closing its Australian and...

Gregor Thompson 23 Apr 2025