It is understood that an extended deadline passed on Friday without the necessary financial arrangements being in place that would have allowed the Irish-owned company to press ahead with its plans to carry out the £350 million Esplanade Quarter project.
Harcourt did not respond to inquiries from the JEP over the weekend seeking comment on the situation.
Treasury Minister Philip Ozouf was expected to hold meetings today with the Waterfront Enterprise Board before making a statement to fellow politicians on the situation.
And it is thought that he was unlikely to change the stance that he took to the States last month when he announced that the initial deadline for the bond to be in place had not been met.
The Treasury Minister has been consistent in insisting that he would not take a deal to the House until Harcourt had met all financial and contractual conditions.
