Infinity waters: landmark victory after high court battle clears way for investors to reclaim failed property schemes losses
A landmark settlement in a High Court battle brought by more than 200 investors in a failed development has created a blueprint for victims to fight back against similar collapsed property schemes, according to specialist insolvency lawyers Isadore Goldman, which represented the investors.
The settlement brings to an end the six-year dispute over the collapse of the Infinity Waters development, a proposed 1,002-apartment scheme across three towers in Liverpool city centre.
The settlement removes key legal obstacles that have prevented the investor group from reclaiming millions in lost deposits, and will now let them mitigate their losses by selling or rebuilding the site.
The investors’ victory gives hope to others in a similar position, with official figures showing that more than half a billion pounds (£649 million) is lost to investment fraud annually[1].
The Infinity Waters development in Lanyork Road, Liverpool, sold leases for hundreds of units with deposits paid running into millions of pounds. But the scheme collapsed in 2020 as the scheme ran out of funding after millions of pounds of loans were paid to other property development companies controlled by the development’s sole director, Elliot Lawless.
Infinity was placed into administration in March 2020 by Equity Group Limited, another company controlled by Mr Lawless. The administrators then agreed to sell the site to a recently incorporated company connected to Mr Lawless, Legacie View Limited, in October 2021.
On advice from Isadore Goldman the investors challenged the attempted sale in the High Court and, in February 2022, a judge ordered the administrators to sell the site to the investors, ruling that their terms represented a better outcome and return for creditors.
However, Mr Lawless claimed to have granted a lease on the site to another of his companies, Infinity Development Holdings Limited, which would have prevented the investors from developing or selling units on the site. The investors took further legal action in the High Court to challenge this lease.
The settlement brings to an end the six-year legal battle by the investors on confidential terms which enable the investors to develop the site and mitigate their losses with the risk of issues regarding leases on the site removed.
Specialist insolvency lawyers Isadore Goldman represented the more than 200 investors, who formed Infinity Developments Propco Limited to take the case to the High Court.
Nick Oliver, Emily Drake and Louise Griffin of Isadore Goldman were supported by Christopher Boardman KC of Radcliffe Chambers and Callum Reid-Hutchings of Gatehouse Chambers.
Nick Oliver, director of specialist insolvency lawyers Isadore Goldman, said:
“For years, investors have been told that when a development scheme collapses their options are very limited.
“This landmark settlement clears the roadblock that stopped more than 200 investors from getting back what they are owed from the Infinity Water site.
“It also shows that with a clear legal strategy and perseverance, investors let down by a failed development can take back control of the insolvency process and come out on top.
“The investors, and particularly their steering board who devoted so much of their personal time, deserve huge credit for refusing to lie down and accept that they were beaten. Their unwavering persistence, hard work and courage has won a victory that lays a path for others in similar situations.”
Christopher Boardman KC of Radcliffe Chambers said:
“Winning the first High Court case that required the administrators to sell the site and legal claims to the investors was only one part of the journey - as the land was largely worthless and impossible to develop while the lease was allowed to stand.
“Challenging the lease and the use of investor deposits has meant that the land can now be marketed, financed or redeveloped, and securing this settlement removes the uncertainty, delay and cost of a final hearing.”
Isadore Goldman is a specialist boutique law firm focused on insolvency, restructuring and related disputes, advising clients across the UK and internationally. The firm is independently recognised among the UK’s leading insolvency practices, and was listed in The Times Best Law Firms 2026 for insolvency and restructuring. With offices in London, Norwich and Portsmouth, Isadore Goldman acts for investors, insolvency practitioners, creditors, directors and businesses on complex contentious and non-contentious mandates, including matters involving asset recovery, fraud issues, and high-value insolvency litigation.
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City of London Police: Over £649m lost to investment fraud in 2024