The Government has moved on Auckland apartment developer Du Val Group, taking the rare step of placing it in statutory management.

The move follows the group of companies being placed in interim receivership on August 2 after an application by the Financial Markets Authority.

NZ Herald property editor Anne Gibson says investigations are still ongoing.

"We don't really know what's going on here - we know that it is complex and serious." 

LISTEN ABOVE

The Government has moved on Auckland apartment developer Du Val Group, taking the rare step of placing it in statutory management.
The move follows the group of companies being placed in interim receivership on August 2 after an application by the Financial Markets Authority.
NZ Herald property editor Anne Gibson says investigations are still ongoing.
"We don't really know what's going on here - we know that it is complex and serious." 
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

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