With the failure of EcoHouse the Brazilian property developer’s British subsidiary, could see Singapore investors losing up to $50 million and combined with the worldwide investment in the development could bring that number closer to $70 million.

It was reported to the financial times by British based Brazilian lawyer Renata Sa, who is representing the 400 Singapore investors for Sol Acres and other investors from around the world into class-action suits, was quoted as saying, “”This should be a wake-up call.””

Sol Acres in Choa Chu Kang

All the details are not clear but it is no illegal action is being taken against the Brazilian subsidiary of the EcoHouse operations, along with real estate agencies, and financial advisors in the UK that were responsible for handling an escrow account.

During the years 2012 to 2013 there were more than 1000 individual investments made in Singapore and Southeast Asia that were sold by EcoHouse. The British-based company underwent a creditor’s voluntary liquidation last month, which will be presided over by Price Waterhouse Coopers who will handle the liquidation proceedings in Sol Acres.

The Brazilian subsidiary as far as it is known not involved in the liquidation. Media reports however suggest progress …