Du Val founders will continue to have assets frozen and passports held by court

RNZ

23 Jul, 2025 05:35 AM2 mins to read

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Kenyon Clarke, one of the founders of Du Val. Photo / Supplied

By Rowan Quinn of RNZ

The founders of the collapsed Du Val companies will continue to have their assets frozen and their passports held by the court, the High Court has ruled.

Du Val is in statutory management, owing more than $300 million, and its main owners, Charlotte and Kenyon
Clarke, are in receivership, with a preservation order on their assets.

The Financial Markets Authority (FMA) obtained the interim order last August and the couple fought back against that at a hearing last month but the court has agreed with the FMA.

In laying out the background to her decision, Justice Jane Anderson said the High Court had the ability under the Financial Markets Conduct Act to make a range of protective orders for the benefit of “aggrieved persons”.