Posted: Friday, August 7, 2026 10:00 am Views: 0 By Breaking Belize News Staff: An American businessman and his company have filed a civil claim in the High Court of Belize against Belize Strategic Fund Limited and businessman Glen Brayshaw over a US$295,000 investment in a proposed villa development at Naia Resort and Spa in Placencia.
Christopher Day and CDAY Properties LLC allege that they invested in the proposed "52/13 Villas" after being told that the development would provide an income-generating rental investment and would be completed by March 2024.
The claimants are seeking, among other relief, judgment for US$295,000, damages, disclosure and tracing of funds connected to the investment, injunctive relief, interest and costs.
According to the amended statement of claim, the transaction was structured through a Memorandum of Understanding, a Promissory Note and Security Lien Option, and a Participation Agreement.
The agreements contemplated CDAY acquiring a participation interest in the development rather than immediately receiving registered title to a specific villa. Under the proposed structure, CDAY would eventually become a shareholder either in Belize Strategic Fund or in another entity that would own the completed villas, with rights connected to occupancy and rental income.
The Promissory Note identified Belize Strategic Fund as the entity responsible for constructing the villas on a property described as "Lot 113" within Naia Resort and Spa. It also represented that CDAY would be entitled to record a lien of US$295,000 against Lot 113 if Belize Strategic Fund failed to perform its obligations.
Day alleges that after paying the full purchase price, he travelled to Placencia in August 2024 and found the development substantially incomplete, describing the structure as little more than a shell. He subsequently sought to exit the investment and requested the return of the US$295,000.
According to the claim, efforts were later made to find another investor to acquire Day's interest. In July 2025, Stephen Van Dommelen entered into a Transfer and Assignment Agreement to acquire the interest for US$295,000 and paid an initial US$29,500 deposit. No further payments were made, even after the payment deadline was extended.
The claimants say they subsequently retained an attorney to investigate the status of Lot 113. They allege that the investigation found that Lot 113 did not exist as a formally registered property and that Belize Strategic Fund instead owned property formally described as Registration Section Placencia North Block 36 Parcel 2631. The claimants further allege that they therefore held no enforceable security interest in Lot 113 or the 52/13 Villas.
Day and CDAY Properties accuse Belize Strategic Fund and Brayshaw of fraudulent misrepresentation and, alternatively, negligent misrepresentation, breach of contract and failure of consideration. The claim also alleges conspiracy.
The claimants are seeking, among other relief, judgment for US$295,000, damages, disclosure and tracing of funds connected to the investment, injunctive relief, interest and costs.
Defendants deny fraud
In a Defence filed on July 28, Belize Strategic Fund and Brayshaw deny that the investment was fraudulent.
While the defendants admit several aspects of the transaction, including the agreements, the projected March 2024 completion date and the fact that the development remained incomplete, they maintain that the project was delayed rather than abandoned.
The Defence says Day acquired a genuine participation interest in the development and argues that the final shareholder structure was expected to be established when occupancy became imminent.
The defendants also strongly dispute the allegation that Lot 113 does not exist.
According to the Defence, an October 19, 2021 email from attorney Tania Moody of Barrow and Williams confirmed that the transfer of the property referred to as Lot 113 to Belize Strategic Fund had been completed. The defendants further contend that all parties involved in the transaction referred to the property as Lot 113 based on development maps and that a different formal Land Registry description does not invalidate its existence.
The Defence further says compensation was offered to Day for delays in delivering occupancy and that efforts were made to assist him in finding another participant to take over his investment.
The defendants also contend that Van Dommelen was a genuine prospective purchaser and that the failed resale was caused by his inability to complete the remaining payments, rather than any fraudulent conduct on their part.
Claimants seek proof of Lot 113 ownership
On August 4, attorneys for Day and CDAY Properties filed a formal Request for Information requiring the defendants to provide further particulars and supporting documents for several assertions contained in their Defence.
Among other things, the claimants are seeking the registered title or formal land reference for Lot 113, documents evidencing ownership, the development maps referring to the property as Lot 113 and a copy of the alleged October 2021 closing email.
They are also requesting evidence concerning the nature of the participation interest allegedly held by Day, details of compensation said to have been offered for construction delays and documents supporting the defendants' contention that Belize Strategic Fund holds both legal and beneficial interests in Lot 113.
The defendants were requested to provide the information by August 25.
The allegations contained in the civil claim remain before the High Court and have not been determined.
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