The fuzzy financials of Du Val’s $50m mortgage fund
Financial results for Du Val’s biggest project ‘feeder’ fund, previously not publicly available, show its single biggest loan was almost double its exposure limit.
The Du Val Mortgage Fund funneled $50.3 million into six of the failed apartment developer's planned Auckland projects, according to its last set of financial statements.
The mortgage fund's financials – which date back to March 2023 but haven't yet been publicly reported – show the fund lent
