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

Justice Jane Anderson is deciding whether asset preservation orders should continue against the Clarkes. (Image: Michael Craig)

Maria Slade

Tue, 17 Jun 2025

Receivers handling the affairs of Du Val founders Charlotte and Kenyon Clarke remain “in the dark” about their financial position, the High Court at Auckland has heard.The court is deciding whether orders made last year allowing the Financial Markets Authority (FMA) to seize the assets of the couple and their failed property group can stay in place.The FMA obtained the asset preservation orders without notice, meaning the Clarkes did not have the opportunity to participate.This week’s hearing is to ask the court whether the or...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On The Money: Anna Breman. Adrian Orr, and more

A moody week worthy of a Scandi-noir thriller involving plenty of bankers.

Dileepa Fonseka 27 Sep 2025

Opinion

Simon Robertson: Investing: What Wall St is banking on

Investors eye an upbeat finish as big tech and AI drive market growth.

Simon Robertson 27 Sep 2025

Technology

Trump saved TikTok – and wrecked the rule of law

TikTok users will be happy, but this is another blow to the rule of law.

The Washington Post 27 Sep 2025

Trump saved TikTok – and wrecked the rule of law

Sponsored

AI agents: opportunity or graveyard? Spark’s five-point playbook for success

Artificial intelligence agents – autonomous digital entities that analyse data, automate decisions, and act independently – are set to drive a new wave of business transformation.

Spark Enterprise

Sponsored