FMA was looking at Du Val statutory management on day of raids

FMA was looking at Du Val statutory management on day of raids
Kenyon Clarke says police and the FMA spent almost 12 hours at his home on August 2. (Image: NZME)
Garth Bray
A police dawn raid with Financial Markets Authority staff on the home of Du Val group's founders was still under way when officials from the latter were briefing Commerce Minister Andrew Bayly that placing the group in statutory management could be the next step.BusinessDesk has obtained a briefing to Bayly from a senior Financial Markets Authority (FMA) manager, marked "0800 2 August", just before images began surfacing of police with firearms carry-cases and evidence boxes entering and leaving the Remuera home of Du Val co-...

More Property

‘Cowboys’ the reason for building consent delays
Property

‘Cowboys’ the reason for building consent delays

Building inspectors hit back at Minister Penk’s claims they are holding up consents.

Fletcher Building’s Clever Core prefab house-building factory to shut
Property

Fletcher Building’s Clever Core prefab house-building factory to shut

Fletcher Building’s much-vaunted Clever Core prefab house-building factory at Wiri in South Auckland will close next year and be replaced by a PlaceMakers frame and truss plant.A spokeswoman said Clever Core had not worked out and would close by June 30.“Fletcher Building has mad...

Staff reporters 31 Mar 2025
Graeme Hart lends to twice-bankrupted builder
Property

Graeme Hart lends to twice-bankrupted builder

The owner of failed developer Buildform is a Hart family friend.

Maria Slade 31 Mar 2025
Developers make unsolicited bids for prime Chch rebuild site
Policy

Developers make unsolicited bids for prime Chch rebuild site

Crown Infrastructure Delivery is weighing up options for the massive site.

Oliver Lewis 28 Mar 2025