PHOTO: Director of Du Val, Kenyon Clarke. Photo: kenyonclarke.com
The drama intensifies for the beleaguered Du Val property group as owners Kenyon and Charlotte Clarke face a deadline to hand over outstanding assets and explain the mysterious disappearance of some jewellery.
Du Val Group Receivership: What property developers are next? | WATCH
Du Val, a sprawling conglomerate of dozens of companies, finds itself in statutory management, with a staggering $240 million owed to creditors and investors. The couple themselves are also in personal receivership.
A High Court judge has given the Clarkes until next week to account for assets that receivers have flagged as missing. The spotlight is particularly on jewellery that the couple has yet to disclose. If they claim any items are lost or given away, they must provide detailed explanations.
By this Friday, the Clarkes are mandated to surrender any assets previously identified in court documents to the receivers.
The couple has expressed dissatisfaction with the receivers’ conduct, who also manage the statutory duties for their companies, but they insist on complying with all legal orders.
Du Val Group Receivership: What property developers are next? | WATCH