Harcourt Developments loses £100m States case
The former developer of Jersey's planned finance district has lost a £100m claim against the States.
Jersey's Court of Appeal dismissed Harcourt Developments' claims of breach of contract at a hearing on Thursday.
Harcourt lost its contract to build the Esplanade Quarter in 2008 when the treasury said the Irish firm could not show it was able to finance the build.
The project has since been taken over by the States-owned Jersey Development Company, but building has not begun.
Senator Philip Ozouf, named in Harcourt's action in his capacity as treasury minister, welcomed the ruling.
"The court, consisting of three external judges, concluded that there was no arguable case and struck out the claim in its entirety, awarding the minister's costs of defending the claim," he said.
"The outcome of this case vindicates the principled position I have taken and in addition, a number of the actions of my predecessor, former Senator Terry Le Sueur."
A spokesman for Harcourt declined to comment.