New Zealand's Du Val Group entered statutory management due to financial issues, owing nearly $240M, after FMA intervention.

In August, New Zealand's Du Val Group entered statutory management after the Financial Markets Authority intervened due to significant financial issues. The group's debt totals nearly $240 million, with various creditors including Auckland Council and Nova Energy. PwC, appointed as statutory managers, revealed that the financial records are limited and subject to change. The situation followed police action related to key figures in the company.

September 26, 2024
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