The Tribune

EDITOR, The Tribune

How many days to November 2015, when this Government insists Baha Mar can be opened by?

If none have calculated, August has 4-weeks – as does September – as does October, so to November 1, 2015, that is 12 weeks. Izmerlian says he needs 3-4 months to complete the civil works and set-up to open.

So far Justice Winder has taken 2 weeks per hearing, to hear anything and we still wait for written opinion, which will be appealed – today he adjourned the Government Petition to wind down – everything for 2+weeks and the first go-around was adjourned for 14-days.

The quickest Justice Winder might get to a decision and a written opinion, we would be well past November and checking on Junkanoo on Bay!

We seemingly cannot complete obvious due diligence as to parties. We are going to propose to the all-important Receivers position.

Petition - counter Petition - Appeal or Appeals if Baha Mar is clear by Easter, 2016, it will be a cheer miracle, probably will be far later than that. I understand why Ministry of Education reports that the annual exams grades for Maths are unacceptably bad. Liquidated commercial resorts are a dime a dozen - Google - if eventually after the lawyers are finished, we get to the finality of Baha Mar if for a $3.45 billion investment someone buys it for 50 cents on the dollar, that will be very high. It has been reported in the press that a comparable resort in Atlantic City - REVEL, cost $3.85 billion, when auctioned was sold for $82 million! Bahamas get ready and accept the real world.

For the buyer it will be more than “Better in The Bahamas”! Of course they will have to continue paying EXIM the 2.25bn loan and deal with the creditors.

W. THOMPSON,

Nassau,

July 31, 2015.