Harlequin Hotels & Resorts is continuing to trade after a court rejected a bid to freeze the company’s assets.
The legal action from investors seeking to recoup money was turned down last Thursday.
They had sought to freeze the assets of Buccament Bay Resort in St Vincent and Harlequin Property, which is the primary sales agent for Harlequin Hotels and Resorts.
A note to the trade on Friday said: “Regulatory legal solicitors, acting for six purchasers of properties at Buccament Bay Resort, applied for a freezing order against Harlequin Property and Buccament Bay Resort Limited.
“This very public application followed days of media speculation unfairly inferring that Harlequin Property and Buccament Bay Resort would be forced to stop trading by today.
“Harlequin is pleased to say that the court refused to grant the application and we are trading as normal.”
It added: “Harlequin denies any wrongdoing and looks forward to clearing its name in relation to the other allegations that are currently being referred to in the press.”
A spokesman for Essex-based Harlequin previously denied media reports that the company was being investigated by the Serious Fraud Office.
“Harlequin has openly stated that it would be more than willing to cooperate with the SFO in relation to any enquiries they wish to make.”