Du Val Group statutory management
Information about the statutory management of the Du Val property management group.
70 entities and subsidiaries of the Du Val property management group are in statutory management, under the Corporations (Investigation and Management) Act 1989.
Background
At 6pm on Wednesday 21 August 2024, John Fisk, Stephen White and Lara Bennett of PwC New Zealand were appointed statutory managers of 70 entities associated with the Du Val property development group (“Du Val Group”).
The order placing the Du Val Group into statutory management was made on the advice of the Minister of Commerce and Consumer Affairs and followed a recommendation of the Financial Markets Authority. It applies to 4 core Du Val corporations and 20 associated persons (all limited partnerships), along with 46 subsidiaries. One subsidiary is excluded as it is 50 per cent owned by a third party and operates independently of the Du Val Group.
On 27 February 2026, PwC sold its business restructuring services (BRS) business to Teneo Financial Advisory New Zealand Pty Ltd (Teneo). From that date, the registered insolvency practitioners from the BRS practice transitioned to Teneo. The statutory management appointments relating to the companies and limited partnerships included in the Du Val Group, also transferred with the relevant insolvency practitioners.
Further information
Teneo is your primary source of information about the Du Val Group’s statutory management and receivership.
Visit the Teneo website for the latest published information. If you have any questions relating to the statutory management, you should contact Teneo in the first instance.
Published 25 November 2024, last updated 20 March 2026