'Unacceptable' response from minister, say Du Val minority shareholders

Andrew Bayly will soon release more details on his Du Val statutory management decision (Image: NZME)

Wed, 11 Sep 2024

Details of what drove the decision to place Du Val entities in statutory management may be clearer soon, says Commerce and Consumer Affairs Minister Andrew Bayly.The minister is promising to proactively release the paper he took to Cabinet last month, in which interim receivers PwC and the Financial Markets Authority recommended the move. “I am conscious that the reasons for my decision and the recommendation from the FMA have not yet been made available to the public. This is due to the ongoing court proceedings and FMA investigatio...

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 }}

Markets Market Close

NZ sharemarket steady despite US slump

Financial adviser says investors holding their breath for reporting season.

Tom Raynel 6:10pm

Infrastructure

Cyclists not part of new road-user charge framework

Govt announces a proposed new road-user charge framework.

Staff reporters 3:40pm

Cyclists not part of new road-user charge framework

Infrastructure

Making fast-track fast again

Shane Jones says he'll 'exterminate' any issues holding up applications.

Oliver Lewis 2:00pm

Sponsored

A decade in, Spark’s AI journey is paying off

The telco’s use of AI offers insights for every Kiwi business.

Spark

Sponsored

Datacom at 60: NZ tech trailblazer eyes the AI future

As it turns 60, Datacom embraces a radical new direction.

Datacom

More Property

Property

Gibbons Co files to subdivide old Tip Top factory site

Property developer Gibbons Co has applied to subdivide the former site of Wellington's Tip Top factory.On Wednesday, the Wellington City Council told BusinessDesk it was processing an application for a three-lot subdivision on the 5000sq m property at 194 Adelaide Rd in Newto...

Gregor Thompson 2:30pm