Harlequin in 'advanced' restructuring talks with investors

Laura Miller
clock

Troubled overseas property company Harlequin is in "advanced discussions" with investors over its further funding and a company restructure, according to a law firm involved in the talks.

Earlier this month, IFAonline revealed Harlequin, which is at the centre of a Serious Fraud Office investigation, is owed £86m by its overseas development arms and related businesses. It has already put its UK-based sales arm into administration, a move it said was necessary because the day-to-day running of that business had become "increasingly challenging, to the point that it is now almost impossible". According to law firm Regulatory Legal, which acts on behalf of some investors in Harlequin and set up the Harlequin Investor Group,  the overseas property firm has been "working wi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

FCA launches consultation on private stock market

FCA launches consultation on private stock market

Move follows Mansion House commitment

Linus Uhlig
clock 17 December 2024 • 3 min read
Partner Insight: Is FOMO overruling investment basics?

Partner Insight: Is FOMO overruling investment basics?

In 2020 we introduced our bubbles chart showing how concentrated investors were in a particular theme. Four years on we look at what, if anything, has changed, and what it means for investors going forward.

Orbis Investments
clock 16 December 2024 • 3 min read
Special situations: How to spot a good management team

Special situations: How to spot a good management team

'We prefer management teams that are considered rather than overly promotional'

Henry Flockhart and Andy Gray
clock 10 December 2024 • 5 min read