Government moved quickly on Du Val, says minister

Government moved quickly on Du Val, says minister
Commerce Minister Andrew Bayly says there were very clear criteria for taking the step. (Image: Mark Mitchell, NZME)
Maria Slade
The decision to place failed Auckland property development group Du Val into statutory management happened quickly, Commerce Minister Andrew Bayly says.PwC was appointed statutory manager of 70 entities associated with the Du Val group at 6pm on Wednesday.The move required approval from the Cabinet and then an Order in Council signed by the Governor-General.It followed a court order issued at the request of the Financial Markets Authority (FMA) placing 64 Du Val entities and its founders in interim receivership on Aug 2.PwC was also the interim...

More Property

Regulator remains ‘in the dark’ about Du Val founders’ finances
Property

Regulator remains ‘in the dark’ about Du Val founders’ finances

FMA and receivers don’t even know how the Clarkes are funding themselves, court hears.

Maria Slade 17 Jun 2025
Court to decide Du Val asset seizure orders
Property

Court to decide Du Val asset seizure orders

Charlotte and Kenyon Clarke will get to have their say ten months on.

Maria Slade 16 Jun 2025
Bremworth wins $2m Kāinga Ora wool carpet contract
Primary Sector

Bremworth wins $2m Kāinga Ora wool carpet contract

The NZX-listed carpet market says the contract is of huge strategic value.

Staff reporters 13 Jun 2025
Mainland Capital delivers $50m raise for Chch hospital expansion
Finance

Mainland Capital delivers $50m raise for Chch hospital expansion

The oversubscribed raise will help fund a new state-of-the-art private hospital facility.

Oliver Lewis 13 Jun 2025