Harlequin Investors must not walk away with a false sense of security

Gareth Fatchett of Regulatory Legal Solicitors

Gareth Fatchett of Regulatory Legal Solicitors

Risk Warning, a voice for distressed investors in the UK, cautiously welcomes Harlequin Property’s meetings with investors and IFAs, scheduled for next week in both Manchester and Basildon. It hopes that investors who have, thus far, met with stony silence from Harlequin will get the answers they have been seeking at these meetings.

Set up by Regulatory Legal Solicitors, Risk Warning recently met with investors throughout the country to help them advance their case with Harlequin.  The response at these meetings was overwhelmingly in favour of opening up a constructive dialogue with Harlequin. Gareth Fatchett from Risk Warning says, “The lack of information from Harlequin has been disconcerting for many of the investors we have been speaking to this month. It is important that Harlequin engages with its investors, many of whom are very concerned about the safety of their property investments in the Caribbean.”

While acknowledging that Harlequin’s efforts to have a dialogue with its investors signals a necessary step in the right direction, Risk Warning urges that investors must arm themselves with the right questions to ensure that they get a full picture of the current status. Mr Fatchett continues, “Given the amount of money invested and the state of uncertainty over a long period of time coupled with some of the recent news coverage on Harlequin, there are many detailed questions to which investors should be demanding answers. It is important that investors do not leave these meetings with a false sense of security.”

Risk Warning, which is acting for a number of Harlequin investors, has compiled a comprehensive list of over 30 questions for Harlequin, which it is seeking to raise with Harlequin next week. These questions demand answers on a number of critical issues such as:

  • how much of investors’ money has been spent on Caribbean resorts being developed by Harlequin
  • what has actually been built but is not yet completed
  • what the cost to finish each development will be
  • what the value of finance payments in arrears is
  • when the Caribbean accounts will be brought up to date

“Hundreds of investors believed in Harlequin’s marketing and invested millions of pounds in Harlequin properties but now find themselves in the calamitous position of not knowing the outcome of their investments.

We call on Harlequin to listen to its investors carefully and to tell them the plain truth about where they stand regarding the current status of their investments and, equally importantly, what the future holds. Anything short of a honest discussion will be unacceptable. We sincerely hope that investors will have productive discussions with Harlequin.”

Gareth Fatchett, Risk Warning

68 Comments

Filed under Barbados

68 responses to “Harlequin Investors must not walk away with a false sense of security

  1. A policy holder

    And BARBADIAN DEPOSITORS are in exactly the same position with CLICO and BRITISH AMERICAN. Exactly the same position. BIPA (Barbados Investors and Policy holders Association) is trying to do what the legal firm RISK WARNING, lead by Gareth Fatchett, is doing in the UK to help investors recover their money. Both the BLP and DLP are in the CLICO / BALICO mess up to their necks and should be making some sincere effort to see policy holders recover their money. Instead they are sitting on their hands doing nothing. The Judicial Managers are drawing and have drawn millions of dollars in fees and the Supreme Court slumbers on! BEAR IN MIND IT WAS DAVID THOMPSON WHO CAME OUT WITH THE DLP AND TOLD THE PUBLIC CLICO WAS A SAFE INVESTMENT.

  2. 4

    Laughing Out Loud at the whole nasty mess!

  3. Fatchett does not represent me.

    While I fully accept that there are many questions which need answering, lets not forget that these meetings have been set up with an agenda. That agenda includes a Q and A at the end. If I could make a suggestion, rather than trying to ask the same questions at each of the meetings, why not break them down and ask a smaller number of different questions at each meeting. The comprehensive list of answers could be collated and posted on here at a later date. Dont forget that these meetings are for ALL investors and not just the ones who feel hard done by. I hope this suggestion is taken on board.

  4. Mr Blue

    It won’t happpen. Dave will find an excuse not to attend. The date for the meeting is just like a completion date for a resort. It will ‘slip’ and it will be some one else’s fault. Probably O’Halloran’s or Newman’s fault somehow, or maybe BDO’s fault, or possibly the fault of the Argyle Airport.

    Bring on the SFO. They are the ones who will finish this scam.

  5. Short Legs

    @Mr Blue he is attending a meeting with Reg Legal today, so my money is on the fact he will turn up.

    What he says needs to be good or he will effectively kill his own business – himself.

    Well more like put it out of its misery, cos its nearly dead anyway😉

  6. s harrison

    If this was me this had happened to i would try to organise all investors to descend upon Harlequin in Basildon with placards and also outside his home and,invite the press along.Keep the pressure on! good luck to all of you.

  7. If you have invested in Harlequin Property with a SIPP provider, we have a solution to help you get your money back. We have a meeting arranged in London on the 1st May at 11am if anyone would like to attend?

    Contact us on: 0191 386 2487
    cpcholding@europe.com

  8. Short Legs

    @CPC Worldwide
    Please confirm if Nikki Crozier is a solicitor or not, its a very simple question.

    I can not find her listed as one?

    This is very important for potential clients.

    I will continue looking online.

  9. Fatchett does not represent me.

    @Short Legs, I think you are asking a very valid question. Phone them up and ask for, I think it is a registration or practicing number. Something like that. I know that Fatchett supplied a number where you could check back with the law society for previous complaints etc.I’ve just put them into the Law Society web site and guess what, not known. Well who would have guessed that then. Just ambulance chasers.

  10. Short Legs

    @FDNRM
    I do agree with you.
    As a side issue for someone so ‘high profile’ there is very little online about her…very strange…like a ghost.

    Lets just wait for the official answer….

  11. Fatchett does not represent me.

    @Short legs, NC is now flooding the Harlequin Investor group forums touting for custom. Talk about desperate.

  12. Short Legs

    @FDNRM
    Too busy to answer our questions!

  13. Fatchett does not represent me.

    @Short legs, I don’t know if you go onto the other forum, but it’s worth a read. NC is taking over, complaining about abuse, slapping PaulWaltons wrist and been invited to the meetings this week by Erica. I thought they were for investors and IFAs only. I hope these meetings arnt going to be high jacked by people shouting out questions.

  14. @fdnrm, I did invite both Nikki and Gareth (as you know!) to the meeting and as far as I know Gareth is attending (but not from my invite) but Nikki is not. As you are aware Gareth is neither a Purchaser or a IFA. I do not know anyone who is a investor we all are purchasers!! I am guessing people are going to ask questions and recieve answers that is what the word “meeting” means! Hope this clarifies the situation

  15. Short Legs

    @Erica do you know if she is a solicitor or not?

  16. Fatchett does not represent me.

    @Erica, In theory Erica you should not be going then because its an investors meeting! Did you see my post higher up the page regarding a suggestion for asking questions. At the end of the day its important the
    meetings are not highjacked by offering the same set of questions time after time. Some of us, and I would suggest it will the majority, want to hear what Mr Ames has to say. I for one would not be happy if Ms Crozier is attending. She intends to start a class action suite against HP including a freezing order. We have been down this route previously with Mr Fatchett which came to nothing. Another one will only be a distraction from turning HP round. The fact she is charging £2000+vat smacks of being a money making operation to me.

  17. Short Legs

    @FDNRM are you going to the meeting tomorrow?

    It would be helpful if Ames answered the questions before the meeting so Mr Fatchit could post them on his website or the blog you mentioned – otherwise ( and rightly so) they will be asked at the meeting.

    If Ames has not answered them it will only further irritate investors.

    Bit like Nikki ?

  18. Fatchett does not represent me.

    @Short legs, I am. He might try to answer the questions through his presentation. I dont know. I just dont want my slot taken up with 30 questions being read off a list. At the end of the day the Harlequin investors group have about 178 registed members, so they should not try and set the agenda.

  19. @FDNRM, I believe a lot of people going are going as couples whilst only one of the pair are the PURCHASER! you are a purchaser not a investor,I am not sure how the “meeting” will be conducted we will have to see, I just hope everyone behaves sensibly and allows Mr Ames to answer question if they are asked!

  20. FDNRM, The questions that Mr Gareth Fatchett is/has asked Mr Ames are nothing to do with the forum we have had no input at all we are not included in the meetings with Mr Ames or Harlequin. The investor group panel are nothing to do with us hope this clarifies the situation.

  21. Fatchett does not represent me.

    @Erica, you and Paul need to get together. He is calling people investors. Have you actually purchased anything yet? I would suggest not. However you have invested in a concept I believe.

  22. Fatchett does not represent me.

    @Erica, sorry wrong terminology, you are the Harlequin Property Investors. Yes? However you are intertwined with Mr Fatchett and will know about all his conversations with DA and the questions he/you are going to try and ask.

  23. FDNRM, We put down a deposit on a plot I did not invest in any concept otherwise how would I know where and when I was to complete where it was what it was gong to look like the end price……….. I could go on but feel your anger you need to calm down and lets see what tomorrow brings🙂

  24. Fatchett does not represent me.

    @Erica, believe me I have no anger. Just look at the title for this thread. I have invested in a concept which has entailed me purchasing a building. There, is that a compromise? What time are you there tomorrow?

  25. FDNRM. I have only seen the questions what were published the same as you, I do not/have not spoken to Gareth about Mr Ames except to say that it would not be a good idea for me to be involved and that it might be counter productive to investors/Purchasers and so I did not want to be involved in this group meeting. I just want what is best for all if you want to complete that is totally fine with me if you are out of contract and want a refund that is also fine with me.My problem is if you want a refund I do not think you should have to go to Essex and barter for it,somewhere it should always of been in black and white what you would get back and it has not been which is totally wrong We should all of always known what our exit fees where/are going to be

  26. Fatchett does not represent me.

    @Erica, so which meeting are you going to?

  27. Beggars Belief

    @ FDNRM at 3.08pm

    Surely it would be much more irritating to have the slot taken up with a presentation in the style of a North Korean newscast.

    I would have thought the list of questions would give the meeting some kind of structure and prevent everyone having to sit through a long presentation designed to leave virtually no time for questions from the floor. I suspect the whole thing will be highly stage managed and everyone will be expected to clap at particular moments when the huge successes of Harlequin are revealed.

  28. Fatchett does not represent me.

    @Beggars belief, not everything in a N Korean newscast is wrong. They do have missiles you know.

  29. Beggars Belief

    And they’re itching for the chance to fire them at those nasty aggressive neighbours.

  30. Short Legs

    I think the meeting will be stage managed, insofar as there will not be much time before he disappears, I have seen it done about three times now. He is a crap public speaker but he is good at dodging questions.

    You will come away from the meeting thinking, what was all that about then?? then thing BS – i have been had!

    PS FDNRM see you there – will you be coming out? ( not in that way) or be just an observer?

  31. Fatchett does not represent me.

    @Short legs, I was looking forward to meeting Erica, but she is being a bit coy about what time she will be there.

  32. Short Legs

    A SEARCH OF THE LAW SOCIETY DATA BASE – NIKKI CROZIER

    Find a solicitor
    If you require assistance with searching, please contact us.

    You searched for: CROZIER; NIKKI.

    Found 0 results.

    Click here to . Try a new search.

  33. Short Legs

    A SEARCH OF THE LAW SOCIETY DATA BASE : SIMON TERRY

    Find a solicitor
    If you require assistance with searching, please contact us.

    You searched for: TERRY; SIMON.

    Found 1 result(s). Currently displaying 1 to 1.
    Name Job Title Law firm Postcode Telephone
    TERRY, SIMON JOHN Inhouse Solicitor HARLEQUIN PROPERTY SS14 3HW 0845 8884 422
    Found 1 result(s). Currently displaying 1 to 1.

  34. FDNRM/ I WILL BE AT THE 6 OCLOCK MEETING will you?

  35. Short Legs

    NIKKI CROZIER IS NOT A SOLICTOR?????

    Now we know why the question was not answered by CPC
    Nikki Crozier is not a solicitor according to the Law society website!!!!!.

  36. Axis Jim Browne

    Money done, fun done and Ames on the run. Alot of people gave a clown alot of money and will have alot of headaches when spending alot more money trying to recover that which is gone.

  37. Axis Jim Browne

    The first loss is the best loss. The lawyers only sell hope while taking what little you have left and which should be safe guarded.

  38. Fatchett does not represent me.

    @Erica 3.00. It’s a 2 hour drive for me.
    @Short legs. She’s just an ambulance chaser who is drumming up interest in the class action which was closed 15 th April. Charging £2000 + vat to start a freezing order against HP. That will be more investors money needed to defend in court. Anyone who signs up for this must be deluded. What’s more its funny that the cut off date is just before the HP seminars. Money grabber.

  39. yatinkiteasy

    Hope somebody videos the presentation..might get it aired on Comedy Central.

  40. Life On Record

    Ames cannot attend a meeting in the immediate future due to time needed for healing to face surgery.

  41. anonymous55

    i for one are absolutely flabbergasted that the fca (formerly fsa) have allowed TM to continue operating their FSA regulated and “alternative investment” non regulated business side by side as they still have the client base to tap in to and sell all the other non regulated sides of the business too. possibly without recourse in the long term as proven before as if they shut either or both down there is little chance of claiming via regular fcs channels. quite unbelievable considering what information is out there. i’ve said this before and will say it again CHECK the other arms of the FS company you are dealing with. they have separate companies for all arms of the non-regulated investments schemes and the sales and monies may be channeled via these.if they then liquidate/close them down it is a very hard process to try and recover your money

  42. bajancat@yahoo.com

    Hey! Matilda Matilda Matilda she take me money and run Venezuela.

  43. Date: Mon, 22 Apr 2013 22:06:21 +0000
    From: mail@harlequininvestorgroup.co.uk
    Subject: Harlequin Investor Group – Meeting with David Ames – 22nd April 2013

    Network Email

    All,

    The Harlequin Investor Group met with David Ames in the afternoon of the 22nd April 2013.

    •3 investors and 2 Directors from Regulatory Legal met with David Ames.

    The meeting was conducted cordially and respectfully as building a rapport in these difficult times is clearly key.

    1.There is no doubt in the minds of those attending on behalf of investors that Harlequin is cash starved and requires new investment.
    2.The lack of cash in the business is a key issue as without liquidity the business will continue to struggle.
    3.The business has a significant number of non-completed contracts, many of which have completion dates which are overdue. In simple terms, the various companies are obligated to repay investors their money back plus 10%. The “repayment overhang”.
    4.The business needs to source new monies. This is going to come from either

    (a) Investment into the equity of the business

    (b) Completions on properties (eg the balancing 70%)

    (c) New investor monies

    We feel (a) & (b) are the best way forward. The HIG see (c) as unlikely in the present situation.

    (a) & (b) are certainly been addressed by Harlequin and their discussions are on going. It is the view of RL that unless and until the “repayment overhang” is dealt with, the various court challenges concluded and the issue of unsuitable advice from intermediaries reviewed then progress will be painfully slow. Any financier would not want to opt into a situation where investors and Harlequin were at odds.

    1.With that in mind HIG have requested answers to their 34 questions to be provided. This will be done by 23rd May 2013 (earlier if possible) by Harlequin.
    2.Additionally, HIG have asked that they be privy to a “ReLaunch Plan” so it allows the investor voice to be factored in. There is a high degree of probability that new contracts would need to be signed by investors to enable a formal financing to occur. HIG sees its role in this as assisting the process.
    3.HIG suggested the David Ames that one option could involve him stepping aside for new senior management to be put in place.
    4.Another separate area of concern is the suitability of advice provided by intermediaries and SIPP providers in relation to the Harlequin product. The FSA Alert of January 2013 set out the regulatory concerns. However, there does appear to need to be a process (which Harlequin should adopt) to encourage investors to have the advice they received reviewed. This would directly affect investors via SIPP and those who re-mortgaged (or took on unsecured debt) to make their deposit payments. There is a high level of investor concern over some of the representations around mortgages on completion, returns etc.
    5.The more pressing issue for all is the short term cash need to deal with those who have already taken legal action. These people need a clear path to payment. RL have requested that Harlequin provide a response so that these investors can be dealt with.
    6.We have agree to meet with David Ames (to review the answers to the questions) and to engage with any potential plan during the latter half of May 2013. It may be that earlier meetings are required. If so, the HIG would make time to assist.

    Conclusion

    Finally, we would urge all going to the investor meetings to give the Harlequin representatives a fair hearing. The company faces significant short term challenges that it is in the interest of investors to assist. That said, we would suggest investors to proceed with caution unless and until the detail of any restructuring / relaunch plan is made available.

    Date: Mon, 22 Apr 2013 22:06:21 +0000
    From: mail@harlequininvestorgroup.co.uk

    Subject: Harlequin Investor Group – Meeting with David Ames – 22nd April 2013

    Network Email

    All,

    The Harlequin Investor Group met with David Ames in the afternoon of the 22nd April 2013.

    •3 investors and 2 Directors from Regulatory Legal met with David Ames.

    The meeting was conducted cordially and respectfully as building a rapport in these difficult times is clearly key.

    1.There is no doubt in the minds of those attending on behalf of investors that Harlequin is cash starved and requires new investment.
    2.The lack of cash in the business is a key issue as without liquidity the business will continue to struggle.
    3.The business has a significant number of non-completed contracts, many of which have completion dates which are overdue. In simple terms, the various companies are obligated to repay investors their money back plus 10%. The “repayment overhang”.
    4.The business needs to source new monies. This is going to come from either

    (a) Investment into the equity of the business

    (b) Completions on properties (eg the balancing 70%)

    (c) New investor monies

    We feel (a) & (b) are the best way forward. The HIG see (c) as unlikely in the present situation.

    (a) & (b) are certainly been addressed by Harlequin and their discussions are on going. It is the view of RL that unless and until the “repayment overhang” is dealt with, the various court challenges concluded and the issue of unsuitable advice from intermediaries reviewed then progress will be painfully slow. Any financier would not want to opt into a situation where investors and Harlequin were at odds.

    1.With that in mind HIG have requested answers to their 34 questions to be provided. This will be done by 23rd May 2013 (earlier if possible) by Harlequin.
    2.Additionally, HIG have asked that they be privy to a “ReLaunch Plan” so it allows the investor voice to be factored in. There is a high degree of probability that new contracts would need to be signed by investors to enable a formal financing to occur. HIG sees its role in this as assisting the process.
    3.HIG suggested the David Ames that one option could involve him stepping aside for new senior management to be put in place.
    4.Another separate area of concern is the suitability of advice provided by intermediaries and SIPP providers in relation to the Harlequin product. The FSA Alert of January 2013 set out the regulatory concerns. However, there does appear to need to be a process (which Harlequin should adopt) to encourage investors to have the advice they received reviewed. This would directly affect investors via SIPP and those who re-mortgaged (or took on unsecured debt) to make their deposit payments. There is a high level of investor concern over some of the representations around mortgages on completion, returns etc.
    5.The more pressing issue for all is the short term cash need to deal with those who have already taken legal action. These people need a clear path to payment. RL have requested that Harlequin provide a response so that these investors can be dealt with.
    6.We have agree to meet with David Ames (to review the answers to the questions) and to engage with any potential plan during the latter half of May 2013. It may be that earlier meetings are required. If so, the HIG would make time to assist.

    Conclusion

    Finally, we would urge all going to the investor meetings to give the Harlequin representatives a fair hearing. The company faces significant short term challenges that it is in the interest of investors to assist. That said, we would suggest investors to proceed with caution unless and until the detail of any restructuring / relaunch plan is made available.

  44. Please take my email address out of the above posting Thankyou🙂

  45. perplexed

    It appears that a lot is resting on the meeting tomorrow. My best
    wishes for everyone and that some sort of light (however dim) appears
    at the end of the tunnel.

  46. Short Legs

    He will blame the builder, investment group, the accountant & finance will just be round the corner……….I will be their so I will let you all know.

    But, welcome anyone who hands over cash!

  47. Beggars Belief

    @ Erica

    Thanks for your update at 11.25pm on Latest News on the HIG website.

    Your helpful report says that it was clear from your meeting that the company is cash starved. It is a fairly small step to speculate that this is the root cause for the stopping of finance payments to purchasers. Do you think that is a fair assessment?

    If so, what does that say about the reason given earlier this year by HP? I think the official line was something about a banking or administrative error that was in the process of being corrected.

    What does that say about a company that says it takes seriously the need to be honest and transparent with purchasers?

  48. Beggars Belief

    Also @Erica. When you made the assessment that the company is cash starved did you get the impression that it was carefully guarding the funds from purchasers for resorts other than buccament bay? So in effect there was cash within the Harlequin group of businesses but it was choosing to carefully preserve the cash for developing the other resorts?

    Or, did you have the impression that all the purchaser funds had been depleted? This would raise the serious question as to how and why so much of the purchasers’ funds for the resorts yet to be developed have been depleted to that extent?! How could it have been possible to spend that much money on what has been completed to date? Does that not also imply that new purchasers are required to fund the development of the resorts for existing purchasers? Why would any person choose to purchase on this basis?

    I hope for the sake of those of us on here who have purchased property in resorts other than buccament bay that the situation described in the first paragraph above is the correct analysis.

  49. The report was conducted by Mr Gareth Fatchett and a few other investors(who form a investor group) I am no part of that group I have had no input into it .All I have done is publish it on the forum.
    My personal opinion will be on the forum after the meeting I will attend at 6m Thanks

  50. Beggars Belief

    Thanks Erica for the clarification.

    Thanks also for calling for calm in the meetings today and tomorrow. Nobody will be best served by a rabble turning up and conducting themselves in a rowdy manner.

    I imagine that a strong plea will be made from the front that people should not share the details of the meetings in a forum of this kind. I’m sure this will be sold along the lines that it is damaging to the brand and everyone’s interests to have things shared publicly.

    I would argue strongly that many of the purchasers work full time (and overtime in some cases to fund their worsening financial situation) and so are not able to get to the meetings. So a balanced and fair report of the proceedings will be very welcome.

  51. Informa

    Tick toc, tick toc, tick toc…………………KA_ _UCKING BOOM

  52. 252

    Calling for calm at the meeting Erica? You were the one shouting at Dave, telling him he was telling lies whilst your husband acted like he was on a school playground, trying to threaten fellow “investors” with angry stares and potential violence! Very constructive……..

  53. @Anonymous, You are totally right I cannot believe I behaved like that “oh my lord” I think it was because I knew he was telling lies and as Mr Ames had said the same lies in the meetings earlier in the day I was ready and had checked my facts and had spoken to various people I don’t know what overcome me I just could not sit there and listen to the lies anymore. If you were there tell me “30M Irish court case” another lie as well as the ones I pulled him up on there was so many,but I did not want to be kicked out or ruin it for others:(
    I am really really sorry for my behaviour ruining the meeting for you there really is no excuse for my doing that to you. I understand your position so sad I wish I could help truly
    I know who you are I think can I ask what you thought when I asked Mr Ames about his mortgage and he said his was totally up to date? The person who said something about not being able to get a mortgage to complete as the lack of finance would damage his credit touched on a good point,as when you think about that all these missed repayments are going to affect all of us for years to come in this country Mr Ames has ruined all of their credit/mortgage chances. I did ask one of the gents to ask Mr Ames to stop taking a salary out of the company for now and pay some of the loan people? I hear from so many people who are now in real danger of losing their homes I really wish we could come up with a answer for them, We really need to see all Mr Ames for what he is and that is he really is a “ideas” man that is what it comes down to a no idea man.
    My husband is really just a big softie he did not mean you any harm he is just in very protective mode at the moment because of various threats I honestly cannot discuss on here it really will all come out in the wash.
    Sorry once again for any upset we caused you😦

  54. Been had

    @Erica, you should be proud of yourself for speaking out, not apologizing for it.
    If everyone kept quiet about this scam it could have rolled on for another year or 2, who knows?

  55. Alison

    Anonymous – I think I know who you are also, I’ve known Erica and her husband for a few years we met on tripadvisor and we’ve kept in touch since then. I also know the chap who Erica talks to from the SFO and I was there when she phoned him before leaving for the meeting and I can confirm that Erica is telling the truth that the SFO are still investigating Harlequin and Dave Ames, I think the reason for Erica’s outburst was that she didn’t want everyone to believe more of his lies. If I remember correctly you were quite vocal in Erica’s meeting in March?

    Did you notice how he didn’t say why the mortgage payments had stopped?? He avoided that question very well. But as long as his mortgage is up to date, that doesn’t make your sister sleep better at night does it??

    Remember the comment how BBay was fully booked over Easter. If that is the case then where is the money from the holiday makers? Why wasn’t that money used to pay people’s interest payments?? Like your sisters?? Erica isn’t the bad guy in all this. Hopefully you can see this now.

    Erica’s husband is a really lovely guy I’m sure he didn’t mean to scare you when he spoke to you at the end. He is just very protective over his family the same as you are over your sister etc.

    You should join Erica’s forum you will see what type of lady she really is, she just want’s to help everyone.

    Alison

  56. Fatchett does not represent me.

    @Erica, the “30m Irish court case” referres to the fact that if HP win in Ireland then the Newman case will be easier to win. That is where the 30m comes in. That was made obvious at the 3.00 pm meeting. I was glad I was not at the 6.00 pm meeting if that is how you behaved. The 3.00 pm meeting was conducted in a calm and reasoned manner. I thought your husband was supposed to be ill, yet he was threatening people?

  57. Beggars Belief

    @FDNRM

    It appears that Mr Ames talked about the Irish Court case as though he would have anything to do with this. Surely the administrators will be in charge and make decisions about the future of litigation.

    I’m not even sure about what happens to HMSSE Ltd as a legal entity once it enters administration. Can someone with a legal background let us know if the case will now simply collapse? I know that a company in administration cannot be taken to court so does it follow that a company in administration can’t enter into litigation with someone else?

    Whatever the situation do you not think that the administrators will spend some time with the judge in Dublin to determine the chances of success and will then decide (without reference to the current directors or chairman) whether to continue to fund the case. Surely the same will be true for any future litigation.

  58. Short Legs

    Short Legs
    April 23, 2013 at 6:39 am
    He will blame the builder, investment group, the accountant & finance will just be round the corner……….I will be their so I will let you all know.

    But, welcome anyone who hands over cash!

    So predictable, I missed off blaming the investors who could not get a mortgage now thats the IFA’s fault. and the SFO they are daminging our investment now

  59. Short Legs

    There is no finance, talk of finance nothing more. the court case is not won.
    Nothing has changed, apart from closing down his Essex office.

    its all going to end soon

  60. BBaywatch

    It appears that O’Halloran is being sued by Harlequin Property and Harlequin Hotels and Resorts, companies (probably) not connected to HMSSE. The number and complexity of the inter company relationships of the Harlequin companies makes dealing with them very difficult (intentionally so?) but any confusion buys time to hide the bodies and get the loot out of sight.

  61. Short Legs

    The stat demands have been served in SVG so that will scupper any finance deal! there will be more to follow……

  62. Beggars Belief

    @BBaywatch. I think that Harlequin Property is just a trading name of HMSSE Ltd but there may be another company registered in that name.

    It is true that HH&R is a separate entity so they could continue the litigation through them without recourse to the administrators.

  63. Eddie Lizzard2

    The Irish court case is between HARLEQUIN PROPERTY [SVG] LTD and O’HALLORAN not HMSSE Ltd which is the company the Ames have put into administration. There are dozens of companies under the Harlequin umbrella still trading.

  64. Beggars Belief

    OK, so the court case goes on unhindered.

    The inter-relationship between the UK and overseas Harlequin companies looks complex especially when it comes to auditing the flow of money and loans between them.

    How will the adminstrator of HMSSE Ltd untangle this? They may well have the Ames family out of their hair in the UK but they will have to deal with them via all the overseas companies. Could the UK administrators force the publication of all the overseas accounts? Could they force the repayment of any loans?

    Does anyone know how administration works when one company that is part of a larger group goes into administration?

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