Court orders interim receivership
The High Court has placed Du Val Capital Partners and several entities within the Du Val Group into interim receivership at the request of the Financial Markets Authority.
The orders also extend to Kenyon and Charlotte Clarke.
Purpose of interim receivership
Interim receivers are appointed to clarify the financial position of a company or group.
John Howard Ross Fisk, Stephen Robert White, and Lara Maree Bennett, licensed insolvency practitioners of PwC New Zealand, have been appointed as interim receivers.
PwC New Zealand is to provide an interim report to the Court within 10 working days or as the court allows.
Asset preservation orders approved
The court also approved FMA’s request for asset preservation orders to support its active investigation into the Du Val Group.
The FMA will not provide further comment at this time.
Impact on investors
Currently, there are approximately 120 investors in the Du Val entities, which were marketed as wholesale investments.
Investors with questions about the interim receivership process should contact PwC New Zealand at [email protected].
Read the FMA media release here.
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