The documents set out a list of cases currently being heard at the Caribbean island’s court. Of around 66 cases listed, 15 mention either Harlequin Properties, Harlequin Management Services, Harlequin’s owner David Ames or Buccament Bay Resort as defendants.
Buccament Bay Resort is a luxury holiday resort built by Harlequin property in St. Vincent and the Grenadines. Many of the cases’ claimants are individuals and the vast majority are represented by lawyers from a company called Caribbean International Law Firm. The documents show the cases are all at different stages and were all due for hearings last week from Monday 3 June to Thursday 6 June.
As previously reported, Harlequin’s problems began in January when the UK’s Financial Services Authority issued an alert on Harlequin after it became concerned with the high number of SIPPs invested in the company’s developments.
The company is also involved in a costly court case with investors in the UK who are fighting for the return of around £500,000 invested in the Buccament Bay Resort. The case led Harlequin to put its Basildon Essex-based sales firm Harlequin Management Services into administration at the end of April.
Yesterday, the Harlequin Investor Group which represents around 1,100 Harlequin investors, published the outline of an “investor-based offer” which would see the assets of the remaining company put into a trust for the benefit of the investors.
The offer was distributed by law firm Regulatory Legal Solicitors which is representing some of the individuals who believe they are owed money by Harlequin.
Click here to read a copy of the St. Vincent and the Grenadines High Court documents
