Several companies under the umbrella of property developer Du Val Group have been placed in interim receivership by the High Court. The interim receivership relates to Du Val Capital Partners Ltd, along with what the FMA describes as "a number of entities within the Du Val Group." Du Val Capital Partners is a 100% subsidiary of Du Val Group NZ Ltd.Du Val is a residential property developer that sources funds from investors that meet the "wholesale investor" guidelines. As well as placing the various Du Val entities into interim receivership, the High Court also approved the FMA's request for asset preservation orders, which the FMA said were to support what it described as an active investigation into Du Val Group. According to Companies Office records, John Kenyon Clarke is a director of Du Val Group NZ Ltd.Du Val Group NZ Ltd is jointly owned by Charlotte Marie Clarke and Karapiro Corporate Trustees Ltd, which is in turn jointly owned by Charlotte Marie Clarke and John Kenyon Clarke.

Source: New Zealand Herald August 02, 2024 06:36 UTC