The chairman of investment scheme Harlequin Property has been ordered by the High Court to pay investors £1.3m to settle claims against him, after he tried to backtrack on the deal.
The ruling against David Ames and his wife Carol was handed down by Judge Mrs Justice Cox at the High Court in London on Friday. The group of 24 Harlequin investors "are still entitled to the sum that the [the Ames'] agreed to pay in the settlement agreement entered into as long ago as 20 October 2014", the judgement, seen by Professional Adviser, said. "This claim has all the hallmarks of an attempt by the [Ames'], made very late in the day, to avoid their obligations under that agreement," Justice Cox added. Lawyers for the Ames' had argued that an earlier out of court deal in wh...
To continue reading this article...
Join Professional Adviser
- 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.