Harlequin’s response to Regulatory Legal’s PR campaign

R Legal has made a number of conflicting public statements recently, which contain a number of falsities. In the circumstances, it is imperative to set the record straight immediately.

R Legal has recently stated that it is working with Harlequin on a “rescue plan”. It is not. Harlequin as a group is, however, engaged in a restructuring process. Neither R Legal nor any of its staff are involved in this process in any way.

Harlequin is increasingly concerned by the on-going PR campaign by R Legal, which is intended to do little more than create further anxiety amongst investors in order to attract custom to their firm.

It must be remembered that R Legal was the firm that, through the media and its own websites, encouraged purchasers to turn against Harlequin. Only two months ago, R Legal featured in an article claiming Harlequin’s assets would be frozen in March. This application failed but the intention was to cause undue panic and alarm amongst purchasers.

R Legal is of course entitled to represent its clients and advise them as it deems fit; it is not, however, allowed to attempt to jeopardise the investments of the remaining overwhelming majority of investors, nor will we allow this.

Further, R Legal has also tried to draw Harlequin into its campaign against IFAs. Harlequin absolutely has not and will not speculate on advice given by IFAs. Any view allegedly expressed concerning the suitability of such advice cannot be attributed to Harlequin.

Harlequin is currently engaged in assisting a number of purchasers to complete on their properties in Buccament Bay Resort and in sourcing external finance, both of which will dramatically hasten the future development of its projects and our clients’ investments.

Harlequin is not yet at the stage to release details about the restructuring process but will provide information directly to its investors very soon.

Harlequin sincerely regrets that some purchasers have found themselves in hardship and is doing everything it can to ensure it delivers on its promises.

A key message taken from the meetings held with investors in the past month was that lines of communication need to be transparent, and so it is with a conscious effort Harlequin makes the above statement, in order to ensure the minimum of speculation surrounding the spread of disinformation by parties with ulterior motives against the best interests of the majority.





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