Out-of-pocket subbies and disgruntled investors circle Du Val
Collective of subcontractors is looking at liquidation proceedings, while investors who have sunk as much as $1m into the developer are considering options.
Du Val co-founders Charlotte and Kenyon Clarke have made a reality tv series about themselves.
What’s at stake: A group of subbies is taking action over money owed on a Du Val townhouse development, while investors in the group’s suspended funds are considering their options.
Background: Du Val was warned by the Financial Markets Authority over misleading investors; meanwhile its showy co-founders have made a reality TV series about themselves.
Main players: Du Val, Charlotte and Kenyon Clarke, the Financial Markets Authority.
Investors in the Du Val group and subcontractors to the Auckland property developer are lawyering up as the state of its investment funds and projects remains unclear.
A lawyer for a collective of subbies on the 38-unit Parry Terraces development said liquidation proceedings against the relevant Du
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Key points
What’s at stake: A group of subbies is taking action over money owed on a Du Val townhouse development, while investors in the group’s suspended funds are considering their options.
Background: Du Val was warned by the Financial Markets Authority over misleading investors; meanwhile its showy co-founders have made a reality TV series about themselves.
Main players: Du Val, Charlotte and Kenyon Clarke, the Financial Markets Authority.
