The owners of the bankrupt Buccament Bay Resort have welcomed a survey showing that the investors in the project are against liquidation.
In a statement, Harlequin said that a survey of investors in Harlequin Property (SVG) Limited (HP SVG) found that 95 per cent wanted to avoid liquidation.
Buccament Bay Resort has been closed since December after its electricity was disconnected amidst financial problems, including an inability to pay its staff.
In the statement, Harlequin which is reported to be in talks aimed at keeping the resort out of bankruptcy said that the survey showed that 90 per cent of its investors found the key features of Harlequin’s upcoming proposal “appealing”, and 88 per cent support the idea of HP SVG investors owning all HP SVG assets, including Buccament Bay Resort.
According to CMC News, Harlequin said it carried out the survey in the first week of February 2017 and received 700 responses, which represents 23 per cent of the 3,000 HP SVG investors.
The proposal, which is due to be finalised and put to HP SVG investors within weeks, will offer the investors ownership of the resort via a nominated group of creditors, along with related financial benefits, and a commitment by Harlequin to refurbish the resort for the investors using the damages recovered from its successful High Court judgment against former accountants Wilkins Kennedy.
If the Proposal is rejected, HP SVG and its assets will enter a liquidation process.
