Du Val founders Charlotte and Kenyon Clarke ordered to pay $46,000 Financial Markets Authority costs

The High Court has ordered Du Val founders Charlotte and Kenyon Clarke to pay the Financial Markets Authority $46,000 in expenses after the regulator succeeded in freezing the couple’s assets, BusinessDesk reports.

In July, Justice Jane Anderson upheld asset preservation orders seizing the assets of the Clarkes and their failed property business.

The Financial Markets Authority (FMA) gained the original orders in August 2024 as part of its ongoing investigation into Du Val, a property development and investment group controlled by the Clarkes.

Three weeks later, 70 Du Val entities were put into statutory management.

The Clarkes, their family trust and five associated entities remain in receivership.

The FMA first obtained the orders “without notice” and an “on notice” hearing was held in June, giving the Clarkes the opportunity to oppose them.

After that hearing, Justice Anderson ruled that the asset preservation orders will continue until further notice.

The FMA sought reimbursement for its costs in dealing with the Clarkes’ opposition. The judge has granted the regulator $40,300 in costs and $5800 in disbursements.

Read more at BusinessDesk.