Du Val shareholders saw a green light from FMA to invest

“We're living in 1980s East Germany": Du Val's Kenyon Clarke fumes. (Image: Supplied)

Wed, 18 Sep 2024

Du Val Property Group directors were let off with a warning and a promise of no adverse public comment from the Financial Markets Authority a month before raids and receivership took that company out of their hands. “We're living in 1980s East Germany. It's a wild conspiracy,” said Du Val co-founder Kenyon Clarke, commenting on the warning and subsequent seizures. BusinessDesk has obtained a letter from the Financial Markets Authority (FMA) to Du Val Property Group (DVPG) dated July 2. The letter wrapped up a...

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.

Already a Subscriber ? Sign in here.

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 }}

On the Money

On the Money: Du Val, Kathmandu, Fonterra, and more

A Du Val comedy, dairy politics, and a copied signature.

Dileepa Fonseka 5:00am

Technology Review

Samsung Galaxy Z Fold7: Slimmer and sharper

When I first got Samsung’s original Galaxy Z Fold, it felt like a momentous occasion.

Peter Griffin 5:00am

Samsung Galaxy Z Fold7: Slimmer and sharper

Opinion

Simon Robertson: On asset allocation

Why I only own US stocks.

Simon Robertson 5:00am

Sponsored

Why New Zealand organisations need to rethink their cloud strategy

New Zealand organisations have embraced cloud computing over the past decade, but many are now confronting a sobering reality: adoption alone isn’t enough. According to Datacom’s 2025 Cloud & Infrastructure Report, only half of New Zealand businesses say they’ve realised the benefits they expected from cloud – despite significant investment.

Datacom

Sponsored