Investments  

Harlequin Property SVG enters receivership

“Harlequin will not be held to ransom as it has been before.

“It has therefore decided on a managed temporary closure to take place at Buccament Bay Resort with immediate effect, with a skeleton staff maintained to secure the premises.

“Once there is clarity over what monies it will recover from its successful claim against Wilkins Kennedy, it intends to refurbish [Buccament Bay] and re-open under new management in spring 2017.

“If suppliers had been prepared to continue with reasonable payment plans, the present situation would most likely have been averted.

“We sincerely regret the circumstances and feel deeply for guests and staff who have been affected, particularly during the festive season. We hope that many will return to the resort in the future.”

This article has been amended since original publication in relation to the role of the interim receiver.  We have also corrected a detail to make clear that Mr Justice Coulson proposed, rather than ordered, that damages should be ringfenced in an escrow account.

laura.miller@ft.com