Estera Fires Back In Investors' Caribbean Resort Fight
Law360, London (April 15, 2019, 5:00 PM BST) -- A Guernsey-based trust manager has denied owing certain investors the millions they fronted for an incomplete Caribbean resort development and instead argued that they signed away their right to sue, according to documents filed with a London court.
Estera Corporate Trustees (Guernsey) Ltd. said that some of the investors in the St. Lucia resort either assigned their rights to a claim to the U.K. Financial Services Compensation Scheme or saw their money finish five villas on the island.
Investors are suing over the trustee’s handling of their investments in a hotel development called Freedom Bay, which investors say was never fully built.
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