It is understood that the Irish developers did not meet their final deadline of last Friday to provide the Waterfront Enterprise Board with a bond to prove that they had the funds to carry out the scheme.
If that is the case, WEB could have to negotiate with other developers to build the 14-block finance district on the Esplanade car park.
The developers missed a deadline to supply the bond at the start of the year and were dropped as ‘preferred developers’ for the seven-year scheme. They were then given a second deadline of 4 September to come up with the money, but apparently failed to do so.
Treasury Minister Philip Ozouf, who is responsible for reporting on the activities of WEB to the States, said he was meeting the Harcourt board later in the week.