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The High Court has placed Auckland property investor and developer Du Val Group into interim receivership.
The interim orders were made against Du Val Capital Partners, together with a number of entities within the Group - at the request of the government financial regulator, the Financial Markets Authority (FMA).
Interim receivership orders were also made against directors Kenyon and Charlotte Clarke.
The court also approved the FMA's request for asset preservation orders.
The order comes as the FMA carries out an investigation into Du Val Group.
The FMA said it would not provide further comment but noted there were about 120 investors in the Du Val entities, marketed as wholesale investments.
It said John Fisk, Stephen White and Lara Bennett of PwC have been appointed interim receivers.
PwC would provide an interim report to the court within 10 working days or a period the court allowed.
Last year, the FMA issued a formal warning against Du Val Capital Partners - the investment arm of Du Val - for potentially misleading or deceiving investors.
The FMA said information provided to investors in December 2022, about Du Val's plan to restructure the mortgage fund, was misleading.
