Battle for millions

Article by Shawn Cumberbatch

DOZENS OF CREDITORS, including Government, are facing an uphill battle to recoup millions of dollars owed by the English developers of two abandoned tourism projects in Barbados.

A high-powered team of financial and legal experts from the Caribbean and the United Kingdom has been assembled to recover at least $600 million in debt left by English company Harlequin.

It includes more than $134 million tied up in a 70-acre property at Merricks, St Philip, and H Hotel at Hastings, Christ Church.

The WEEKEND NATION learnt that the funds owed to local and foreign creditors included $115 million associated with Merricks, $19.5 million for H Hotel, and about $700 000 in land tax due to the Barbados Revenue Authority. (SC)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.