PwC view of Du Val's solvency 'unchanged'

Kenyon and Charlotte Clarke still own the Du Val entity that controls development property projects. (Image: NZME)

Thu, 19 Sep 2024

Du Val statutory managers PwC “do not agree” with investors’ claims that parts of the failed Auckland property development group are solvent.Minority shareholders in Du Val Property Group (DVPG) have written to Commerce Minister Andrew Bayly urging him to remove the entity from statutory management. They claim it met the solvency test before regulators acted last month.Earlier this year, 66 Du Val investors accepted an offer to exchange their interests in its investment funds for shares in DVPG. They now own just under 22% of...

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