What is the Du Val Group and why has it been put into statutory management?

The Government's stepped in on Auckland apartment developer the Du Val Group, placing it in statutory management.

This follows Du Val Capital Partners and related companies being placed into interim receivership by the High Court earlier this month, with a police raid on the home of company founders Kenyon and Charlotte Clarke.

About 120 investors have put money into the entities.

So what do these moves mean for those investors, and how unprecedented is this level of response?

Today on The Front Page, Herald property editor, Anne Gibson, joins us to walk us through what happened, and who was pulling the strings at Du Val.

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You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.

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