Harlequin: SIPP investors win battle over former advisers

Update Harlequin 150pxA group representing investors into the beleaguered Harlequin property group have won a victory over the advisers who “facilitated” the investment into the unregulated investment. Acting on behalf of an investor, the Harlequin Investor Group (HIG), which is run by Regulatory Legal and represents over a thousand Self-Invested Personal Pension (SIPP) investors, has had a complaint against an adviser upheld by the Financial Ombudsman Service (FOS). SIPP transfers Investors into Harlequin property resorts and developments have been fighting an on-going battle to see a return on their investment for over ...

Harlequin Property update: Harlequin win’s Irish court case

Update Harlequin 150pxHarlequin Property has won its multi-million pound court case against a former contractor. The beleaguered property group sued their Irish contractor accusing him of misappropriating millions of dollars during the construction of its luxury Buccament Bay Resort in the Caribbean. During the month long trial the court heard evidence from Harlequin that some $13 million was misappropriated, whilst very little construction work was carried out. Speaking after today’s ruling a Harlequin spokesman said: "We are delighted with the Court’s decision and grateful that ...

Harlequin property update: Harlequin part company with Eleven Capital

Update Harlequin 150pxHarlequin, the beleaguered property investment group, has parted company with the firm charged with finding suitable finance to back the restructure of the group. Eleven Capital was instructed in April to research the finance options available to Harlequin as part of a wider restructure. During this process, James Cannon of Eleven Capital, met with investors at Harlequin’s Open Days, again in April to outline some of the options. According to a letter from Mr Cannon sent to investors on 31st May ...

Harlequin Property update: David Ames updates investors

Update Harlequin 150pxFollowing a relatively quiet couple of weeks for Harlequin Property investors, David Ames, Chairman of the beleaguered company has written to investors to update them on the latest position. Mr Ames informed investors at the Open Days in April that he planned to restructure the group. The first step in that process seemed to be putting Harlequin Management Services (South East) which trades as Harlequin Property, into administration. Mr Ames has now written to investors with an update, the full text of ...