Claims deadline approaches for investors in failed French holiday home village

Investors in a failed holiday home development in central France have until November 9 to submit claims to the liquidator, if they live outside of the country.

The liquidated company, SAS Halcyon Retreat, was one of three French companies linked to the project.

Nearly all investors in the Halcyon Retreat development in Creuse were British or Dutch, with some investing hundreds of thousands of euros.

One of the development’s two British directors, Robin Barrasford, a former UK police officer, has been under investigation in France for his alleged part in the case.

The Telegraph reported that Mr Barrasford was arrested in Spain earlier this year as part of a joint operation between French and British authorities and Spanish police. 

The paper reported in July that he had been placed mise en examen, meaning that he was under formal investigation by a French judge. 

A second individual has been charged in association to the development but has not been named.

The Times previously reported the other British director as Alan Bird, however, he has not been officially named in the current criminal investigation.

Investors can register as a civil party in case

Investors can also register as a partie civile (civil party) in the investigation, which is being conducted by a specialist unit in Bordeaux, a lawyer representing victims told The Connexion.

“Two companies, Château La Cazine SAS and SAS Halcyon Retreat, are being liquidated. Investors, almost all of whom are British or Dutch, may have invested in either,” said Valentin Simonnet, a lawyer representing around 20 victims of the failed scheme.

“The deadline for Château La Cazine has passed, and creditors can now register only in exceptional circumstances. For Halcyon Retreat, however, the deadline is November 9.”

The deadline for claims from people living inside of France passed on September 9. 

Maître Simonnet said it was in investors’ interests to submit claims, although unsecured creditors may recover little or nothing after higher-priority claims have been settled. 

Château La Cazine operated the complex, including its residences, hotel, bar, restaurant and leisure facilities. 

Its directors were Mr Bird and Mr Barrasford.

Halcyon Retreat was registered as a property development company established to purchase, manage and let properties and oversee building works, with Robin Barrasford as its legal representative.

A third French company, Cazine Holding SAS, holds shares in the other two companies, with Alan Bird and Robin Barrasford listed as associates and beneficial owners.

Several UK companies have been linked to the scheme, including Halcyon Retreat UK Ltd (registered in Tavistock, Devon), Halcyon Developments Group and Barrasford and Bird Worldwide.

“I would urge investors to check their paperwork carefully and, if they signed a contract with or invested money in SAS Halcyon Retreat, to submit a claim,” said Maître Simonnet.

“Some assets have been seized in France as part of the criminal investigation. If the investigation eventually leads to convictions, victims who have registered as parties civiles may be eligible for compensation.”

“Registering with the liquidators will strengthen investors’ cases before the criminal court, while new legislation allows French courts to pursue the worldwide assets of convicted criminals.”

Millions invested into development

A detailed description of the process, written in English by Maître Simonnet, is available here.

He said one of his clients had lost more than €1 million investing in the development, which promised luxury holiday homes that could be rented out on an estate with its own golf course, gym, hotel and restaurant.

Other investors had put in between €200,000 and €300,000.

“For some, it was their pension savings. They were attracted by the prospect of an investment in France, only to lose everything.”

Some British media reports suggest that claims against the UK companies now amount to tens of millions of pounds.