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

Fletcher’s cost-out drive goes even deeper
Property

Fletcher’s cost-out drive goes even deeper

Latest belt tightening will be structural and sticky, analyst says.

Du Val pair ordered to pay costs
Property

Du Val pair ordered to pay costs

The Clarkes are to pay the markets regulator following the asset seizure hearing.

Maria Slade 13 Oct 2025
Auckland developer collapse leaves $40m in debt
Property

Auckland developer collapse leaves $40m in debt

Between all firms, debts with the IRD are about $25 million.

Gregor Thompson 13 Oct 2025