Harlequin owed £86m by its Caribbean development arms

Harlequin Property, the UK-based overseas property sales agent which is at the centre of a Serious Fraud Office investigation, is owed £86m by its overseas development arms and related businesses.

The sum is detailed in the administrators report for Harlequin Management Services South East, the UK arm sales of the Harlequin group which entered administration in April. It includes £30m owed to Harlequin Management Services by Harlequin Developments and £22m owed by Harlequin Property SVG. The rest is made up of monies owed by other Harlequin hotel and development arms registered across the Caribbean. Next to each of the valuations of money owed by the various overseas development and trading companies, Shipleys, the administrators, have put that the estimated realisable value is...