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Investors want answers from Caribbean property firm
INVESTORS in Harlequin Property have joined forces to get answers from the firm about delays to projects and finances.
The Harlequin Investor Group has been set up by some of the around 6,000 investors to get reassurances about delays with building and problems with funding to provide loans to investors or finish building.
Harlequin is refunding some clients over 12 to 18 months and also guarantees to pay the loan interest for clients who took out mortgages to pay their deposits.
This week the Echo revealed Harlequin also defaulted on paying some investors their refund or mortgage interest instalments.
Some of its overseas companies such as Buccament Bay resort Ltd have not filed any accounts since being set up in 2005, it was recently revealed.
The group will also call for answers about these developments and have invited Harlequin boss Dave Ames to attend.
A spokesman for the group said: “We will be asking Mr Ames to attend so we can get the answers we require.
We would ask everyone to send in the questions they would like answering so that the same question is not repeated.”
Harlequin says less than one per cent of investors want refunds and the recent defaults were down to a banking issue which is being fixed.
It blamed lack of foreign accounts on historical accountancy issues which were also being dealt with.