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Harlequin Property freezing order bid ends after investors paid out
A BID to freeze the asserts of south Essex Caribbean resort developer Harlequin Property has ended after the investors were paid out.
Six investors trying to get back a total of around £500,000 from the Basildon-based firm were due back in the High Court in Birmingham on Thursday after their legal bid to stop it trading was adjourned.
However, following out of court negotiations, the firm has settled their claims.
Harlequin has sold 6,000 off-plan holiday units since 2005 but built just 300 at Buccament Bay in St Vincent.
Gareth Fatchett, solicitor for Regulatory Legal which brought the case, said: “Our primary aim was for the return of these investors’ deposits. We now have 20 more investors seeking refunds due to missed completion dates.”
Following the case Harlequin issued a statement to investors which said: “This very public application followed days of media speculation unfairly inferring that Harlequin Property and Buccament Bay Resort would be forced to stop trading by today.
“Harlequin is pleased to say that the court refused to grant the application and we are trading as normal.
“Harlequin denies any wrongdoing and looks forward to clearing its name in relation to the other allegations that are currently being referred to in the press.”
Meanwhile, several investors are expected to attend a meeting called by the Harlequin Investor Group in Manchester today calling for answers from Harlequin about delays to its projects.
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