More Du Val investors join suit against FMA

Work at Du Val's Verge Apartment complex in Mt Wellington had halted in February, before statutory managers took over in August. (Image: BusinessDesk)

Garth Bray

Mon, 16 Dec 2024

Minority interests in Du Val Property Group (in statutory management) have signed up 25 shareholders to their representative action against the Financial Markets Authority filed in the High Court in October.Shareholders claim the Financial Markets Authority (FMA) could have and should have acted sooner to stymie an offer Du Val made to move limited partner investors in its Mortgage Fund, Opportunities Fund and Build to Rent Fund into Du Val Property Group (DVPG) as shareholders.Over 80%The claim was originally filed by six shareholders. The upd...

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