At 18:00 on 21 August 2024, John Fisk, Stephen White and
Lara Bennett of PwC New Zealand had been appointed statutory
managers of 70 entities related to the Du Val property
growth group (“Du Val”). The statutory administration
suspends the Court docket-appointed interim receivership
appointments that had been made on 2 August 2024 for the
majority of the Du Val group entities. A full listing of the
entities that are actually in statutory administration is connected to
this launch.
John Fisk, Associate, says, “We’re eager
to make sure building works proceed on the lively
building initiatives Du Val has and that it’s enterprise as
common for the rental properties. Our preliminary focus will likely be
to protect and realise finest worth for all stakeholders. We
will likely be speaking with all collectors and traders, and
will likely be conducting a radical investigation. We are going to present
collectors and traders with common updates on the progress
of the statutory administration.”
Du Val is a developer
of large-scale residential property initiatives within the Auckland
space. The statutory administration appointment was made
following the submission of a report by PwC to the Excessive
Court docket. The preliminary receivers’
appointment was made by the Excessive Court docket on software of
the Monetary Markets Authority (FMA) beneath the Monetary
Markets Conduct Act 2013.
Please direct any additional
enquiries relating to the appointment to the FMA.
Du Val
traders and collectors with questions on the statutory
administration course of ought to contact PwC New Zealand at nz_duval@pwc.com.
Entities
Statutory
Administration – Core
Du Val Construct
to Hire Restricted Partnership
Du Val Group NZ Restricted
Du
Val Mortgage Fund Restricted Partnership
Du Val Property
Group Restricted
Statutory Administration –
Related Individuals
Alpha
Centauri Restricted Partnership
Bernards Star Restricted
Partnership
Du Val Industrial and Blended-Use Fund Restricted
Partnership Du Val Improvement Fund No. 14 Restricted
Partnership
Du Val Schooling Restricted Partnership
Du
Val New Properties Restricted Partnership
Du Val Alternative Fund
Restricted Partnership
Earlsworth Restricted
Partnership
Edmonton Highway Restricted Partnership
Epsilon
Tauri Restricted Partnership
Hill High Flats Restricted
Partnership
Hillside Crossing Restricted
Partnership
Funding Portfolio Administration Restricted
Partnership
Lalande Restricted Partnership
Parry Restricted
Partnership
Sunnyvale Terraces Restricted Partnership
Te
Awa Terraces Restricted Partnership
Theta Scorpii Restricted
Partnership
Trans-Tasman Pacific Restricted
Partnership
Wolf 359 Restricted
Partnership
Statutory Administration –
Subsidiaries
Amble Valley
Restricted (previously Du Val Developments Restricted) April
Parts Restricted (previously DVFS LIMITED)
Blue Body
Holdings Restricted (previously Du Val Estates Restricted) Blue
River Holdings Restricted (previously Du Val Development
Restricted) Clarke Media Group Restricted
Curie GP
Restricted
Darwin GP Restricted
Diamond Field Restricted
(previously Du Val Vogue Restricted)
Du Val BTR GP
Restricted
Du Val BTR Restricted
Du Val Constructing
Restricted
Du Val Capital Companions Restricted
Du Val Golf equipment
Restricted
Du Val CMUF GP Restricted
Du Val CMUF
Restricted
Du Val GP 1 Restricted
Du Val GP 10 Restricted
Du
Val GP 11 Restricted
Du Val GP 4 Restricted
Du Val GP 5
Restricted
Du Val GP 7 Restricted
Du Val GP 8 Restricted
Du
Val GP 9 Restricted
Du Val GP Holdings Restricted
Du Val GP
Restricted
Du Val Investments Restricted
Du Val Land
Restricted
Du Val Administration Restricted
Du Val Property
Administration Restricted
Einstein GP Restricted
Farham Restricted
(previously Du Val Holdings Restricted)
Fiji Land Acquisition
Restricted
Flipping Lids Restricted (previously Due Val PT NZ
Restricted)
Franklin GP Restricted
Galilei GP Restricted
Get
Began Restricted (previously Du Val Schooling GP
Restricted)
IPM Basic Associate Restricted
Newton GP
Restricted
Orange Pineapple Restricted (previously Du Val Gross sales
Restricted)
Rising Holdings Restricted (previously Du Val HC
Restricted)
Shrub Holdings Restricted (previously Du Val Well being
GP Restricted)
Techway Restricted (previously Du Val Company
Providers Restricted)
Tribal Holdings Restricted (previously DVE
LIMITED)
TTPP Basic Associate Restricted
Water Alley
Restricted (previously Du Val Architects Restricted)
Woodle
Restricted (previously Du Val Acquisitions
Restricted)
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