{"id":196267,"date":"2025-12-22T11:12:13","date_gmt":"2025-12-22T11:12:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/196267\/"},"modified":"2025-12-22T11:12:13","modified_gmt":"2025-12-22T11:12:13","slug":"fall-of-the-house-of-du-val-are-kiwis-doomed-to-repeat-the-same-property-mistakes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/196267\/","title":{"rendered":"Fall of the House of Du Val: Are Kiwis doomed to repeat the same property mistakes?"},"content":{"rendered":"The students reckon they can handle an unregulated investment, but the idea of being steered towards a certain accountant or lawyer is a bridge too far. <\/p>\n
\u201cI\u2019d\u202fwant to, like, proffer\u202fthe idea of using my own lawyer and see how\u202fthey\u2019d\u202freact,\u201d law and finance student Luca Armitage says. <\/p>\n
\u201cI absolutely agree, just not being peer pressured into anything, and just holding your own, like standing for yourself \u2026 definitely,\u201d marketing student Cleo Yee said. <\/p>\n
The students are also wary of self-promoting founders who flash their wealth. <\/p>\n
\u201cI think having the need to flaunt their wealth that hard could be a red flag, because it shows that maybe all the good things aren\u2019t in their work,\u201d engineering student Harry Smart says. <\/p>\n
Auckland University Business School lecturer Shohil Kishore tells the podcast that social media has a unique effect on people because it mixes friendship and family with advertising. <\/p>\n
The trust it creates allows promoters of high-risk investment schemes to hide behind a veil of suitability. <\/p>\n
\u201cYou could be scrolling through Instagram, say, and you would see something like an ad, which, your\u202ffriend has liked this page, they follow this\u202fpage. And that\u202fimmediately\u202fgives you a little bit of, \u2018oh, this seems legit\u2019.\u201d <\/p>\n
In the episode, Retirement Commissioner Jane Wrightson outlines her \u2018Five Golden Rules for Mum and Dad property investors\u2019, which she says those who fancy themselves as property tycoons fundamentally and perennially fail to understand. <\/p>\n
While Du Val founder Kenyon Clarke continues to insist that the regulator, the Financial Markets Authority, is to blame for the collapse of the property group, the outlook for investors owed $64m is bleak. <\/p>\n
Russell McVeagh partner Matt Kersey, an expert in the Government-appointed regime of statutory management, says it\u2019s only used in extreme circumstances. <\/p>\n
In theory, it has the potential to protect people, such as in the case of a failed airline or bank. <\/p>\n
But \u201cI wouldn\u2019t say it\u2019s a good sign that a company you\u2019ve invested in is subject to statutory management\u201d, Kersey says. <\/p>\n
The Fall of the House of Du Val was made with the support of the Milford Foundation\u2019s Brian Gaynor Business Journalism Initiative and MoneyHub. <\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The students reckon they can handle an unregulated investment, but the idea of being steered towards a certain…\n","protected":false},"author":2,"featured_media":196268,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[11306,1665,192,138,1656,121383,6630,3592,104642,209,10053,329,807,20053,19133,48016,111,139,69,1118,814,75725,91929,4514,3767,1552,223,8229,61,1528,27078,3608,6730],"class_list":["post-196267","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-accountant","tag-advice","tag-are","tag-business","tag-company","tag-doomed","tag-du","tag-fall","tag-firstyear","tag-group","tag-house","tag-investing","tag-kiwis","tag-lawyer","tag-looking","tag-mistakes","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-property","tag-recommended","tag-repeat","tag-same","tag-students","tag-suspicious","tag-the","tag-they","tag-to","tag-university","tag-val","tag-were","tag-would"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/196267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=196267"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/196267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/196268"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=196267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=196267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=196267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}