Harlequin’s statement adds that it has held “constructive discussions” with the main Sipp providers over its trust and “technical details are expected to be resolved by early 2015”.
According to Harlequin, the Sipp providers represent around half of investors and the other half are ‘direct’ investors. For those Sipp investors, the Sipp needs to sign off their client’s involvement.
“We have already received an ever-increasing four-figure sum of sign up forms from investors (precise figures will not be released to spare investors from negative tactics by third parties). A deadline for all investors to enter the trust will be announced in the near future.”
Separately, FTAdviser understands that a group of investors in the Grenadines-based Buccament Bay resort recently attempted to make a claim in the UK courts to get their deposits back, but that this has been rejected as the court did not have jurisdiction to make such a direction.