Cairn Homes founder warns investors about Barbados

Advertisement

BEGIN ARTICLE PREVIEW:

Alan McIntosh, a founder of Cairn Homes and Emerald Investments, has sent a letter to the Prime Minister of Barbados in which he advised people not to invest in Barbados.

he investor wrote the letter after Prime Minister of Barbados Mia Mottley appeared in a Business Post article looking to increase economic links between Ireland and her country. She also appeared on Irish radio to talk about a “work from Barbados” scheme.
Copies of the letter were sent to others, including Tánaiste Leo Varadkar.

McIntosh made a $2.5m investment in Barbados three years ago. He ended up in a dispute with one of the shareholders in the project, Peter Ogle, starting legal action in 2018.
In the letter, seen by Ergo, McIntosh wrote that he has been waiting “almost three years” for the matter to be heard.
Of investing in Barbados, McIntosh wrote: “I am an Irish investor who invested in Barbados, and I wish I’d never done so. Unless changes are made to the legal system in Barbados, I would urge no one to invest in Barbados, either commercially or to buy a condo, holiday home or even take a holiday there. Why? The legal system is not fit for …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE