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KPMG acts as insolvency officeholder of Caribbean property developer Harlequin

January 2020

Client(s) Glasgow, Brian Albert as Interim Receiver and Receiver and Manager of Harlequin Property (SVG) Limited

Jones Day is advising Brian Glasgow of KPMG as bankruptcy trustee of Harlequin Property (SVG) Limited ("HPSVG") and Brian Glasgow and Craig Waterman of KPMG as joint liquidators of Harlequin Resorts (St. Lucia) Limited. This matter involves the investigation of creditor claims of approximately £450m, representing investments made into the Harlequin group from as many as 8,200 individual investors.

Since instruction, Jones Day has successfully obtained formal recognition of the HPSVG insolvency proceedings in England and Wales, and litigated complex and fast-moving Companies Court proceedings in respect of the validity of a damages based agreement entered into by HPSVG prior to its bankruptcy. Jones Day continues to assist KPMG in its investigations and recovery strategies in more than 10 jurisdictions, including in the UK, Ireland, St. Vincent and the Grenadines, St. Lucia, and the Cayman Islands.

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