By NICO SCAVELLA
Tribune Staff Reporter
A SUPREME Court judge has granted leave for Baha Mar to appeal his previous ruling not to recognise its ongoing Chapter 11 bankruptcy proceedings in the Bahamas.
Justice Ian Winder made the decision on Tuesday morning, allowing for Baha Mar to contest his previous rejection of resort CEO Sarkis Izmirlian's motion to have the property's bankruptcy orders from a US court approved in the country.
However, Baha Mar's application for leave to appeal received opposition from Crown lawyers, as well as lawyers for the Export Import Bank of China, the project’s financier, and China Construction America (Bahamas), the resort’s general contractor.
Justice Winder, in previous proceedings, had also rejected a request for Baha Mar to get an approved extension for its $80 million debtor-in-possession (DIP) financing approval by the Delaware court to take effect.
Baha Mar's requests for alternate relief were also rejected.
Justice Winder's reasons for doing so are outlined in his written judgment, a copy of which has been obtained by The Tribune, which was released on Tuesday.
For more on this story, see Wednesday’s Tribune.