Du Val statutory management has 'Cold War vibes,' court hears

Du Val founders Kenyon and Charlotte Clarke. (Image: Supplied)

Mon, 02 Sep 2024

Placing property developer Du Val into statutory management had “Cold War vibes” about it, a lawyer for the group’s founders told the High Court at Auckland on Monday.On Aug 21, the Government invoked the rarely used regime and appointed statutory managers to 70 entities associated with the Auckland residential developer.Three weeks earlier, the court had appointed interim receivers to 64 Du Val entities and its founders, Charlotte and Kenyon Clarke, at the Financial Markets Authority's (FMA) request.The court required int...

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