The founders of Du Val Group, Kenyon and Charlotte Clarke, have applied for legal aid to defend themselves against charges brought by the Financial Markets Authority (FMA).
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The FMA has taken action against Du Val and its founders, Kenyon and Charlotte Clarke,suggesting potential violations of financial regulations or misconduct.
The Government put 70 Du Val entities into statutory management in August while the Clarkes personally and their family trust are in receivership.The FMA gained orders seizing the group’s assets and undertook raids on the Clarkes’ home in Auckland.
Du Val statutory receivers disclosed last month that the various entities in the group faced eight legal proceedings after receivers PwC undertook a full search of legal actions against the once high-flying companies. “Those searches showed eight active proceedings. The receivership orders do not operate to stay (pause) those proceedings,” the report into the Du Val Group said.
The receivers appointed to manage Du Val’s assets are reportedly refusing to pay rent on the company’s former headquarters, which has led to a dispute over the property and its ongoing costs.
