Most Du Val investors unlikely to get anything, PwC says

Most Du Val investors unlikely to get anything, PwC says
Charlotte and Kenyon Clarke have still not fronted up for an interview with PwC. (Image: Supplied)
Maria Slade
Two groups of investors in the failed Auckland property developer Du Val are unlikely to see any of their money returned, according to the latest report from PwC, which serves as the statutory manager.The Government placed 70 entities of the Du Val group into statutory management last August, with PwC initially estimating that it owed $306 million.Since then, some assets have been sold and secured creditors repaid, reducing the total debt to $268m.However, the amounts owed to unsecured creditors had increased slightly, and the fortunes of inves...

More Property

ASB pays $566 m for North Wharf HQ lease extension
Property

ASB pays $566 m for North Wharf HQ lease extension

The OIO has approved ASB's request to extend its lease by nine years.

RBNZ paying for unused floor space at new office
Property

RBNZ paying for unused floor space at new office

The Reserve Bank of NZ's plush new Britomart office will be only partially occupied. 

Andy Macdonald 29 Oct 2025
Labour unveils targeted capital gains tax policy
Property

Labour unveils targeted capital gains tax policy

The tax would apply only to profits from selling residential or commercial property.

Staff reporters 28 Oct 2025
Fletcher Building MD: ‘It hurts to make these cuts’
Property

Fletcher Building MD: ‘It hurts to make these cuts’

An emotional Andrew Reding says staff understand why the firm has to cut back.