The Unit Trust Cor­po­ra­tion has con­vinced a supreme court judge in the Turks and Caicos to freeze US$85 mil­lion in as­sets held by two Turk­ish in­vestors who were seek­ing to de­vel­op a lux­u­ry re­sort on Del­lis Cay in the Turks and Caicos.A state­ment from the UTC yes­ter­day said that the court hand­ed down an or­der that favoured the UTC, which had fi­nanced the de­vel­op­ment.

Ac­cord­ing to the UTC, the court in the Turks and Caicos dis­missed all claims that the de­vel­op­ers had brought against the UTC and the unithold­ers."The UTC will con­tin­ue to take all ac­tions nec­es­sary to pro­tect the in­ter­ests of its unithold­ers in this mat­ter," the UTC stat­ed.How­ev­er, the UTC is named as one 19 de­fen­dants in a sep­a­rate case filed in the Man­hat­tan Fed­er­al Court this week brought by in­vestors who had made down­pay­ments of up to US$50 mil­lion on the lux­u­ry vil­las. That case al­leges that the de­vel­op­ers fleeced the in­vestors and spent mil­lions of dol­lars buy­ing homes for them­selves.