BAHA MAR LATEST: Government party flies home from China, no resolution

As of Tuesday, July 28, 2015

THE government’s delegation to assist with negotiations over the stalled Baha Mar project is en route back to the Bahamas this afternoon.

Attorney General Allyson Maynard-Gibson told The Tribune that the team had left Beijing and were “on the way home”.

She did not confirm whether the team was able to successfully broker a deal between the resort, Export Import Bank of China, and China Construction America.

However, it is understood that the three parties are still no closer to a resolution that would lead to the $3.5bn project’s completion.

This is the second time the delegation led by Mrs Maynard-Gibson has travelled to China to mediate talks between the three parties.

Following the earlier visit, Mrs Maynard-Gibson filed a winding-up petition in the Supreme Court after those negotiations reached a stalemate.

Prime Minister Perry Christie has said that the government will continue with its petition to restructure the project under the authority of a provisional liquidator and the supervision of the Supreme Court, if no agreement is met in China.

Baha Mar, the government, CCA and China Export-Import Bank will be back in the Supreme Court for a hearing on the winding up petition on Friday.

Full story in tomorrow’s Tribune

asiseeit 8 years, 8 months ago

The Bahamian people have a right to know how much this "shuttle diplomacy" is costing the tax payer. Who is footing the bill? This fiasco is costing the Bahamian tax payer more and more, seems to be just another nail in our coffin.

sheeprunner12 8 years, 8 months ago

At at least $200,000 per trip ........... this is joy-riding to China by Perry's minions (for no tangible results) .................... will this be added to Izzy's bill or is this just on the taxpayers??

TalRussell 8 years, 8 months ago

Comrade Asiseeit, the AG was a good selection by the PM, who today appears by all reports to have made great strides toward finding a workable solution for all parties, despite the missing and uncooperative developer who remains absent from the table. You seem not question how Izmirlian, can take $4 million to pay his lawyers, all whilst willing to have taxpayers pay his workers, including work permit holders.

sheeprunner12 8 years, 8 months ago

Tal ........... wrong idea to have the negotiations in China ....... should have been a third-party territory with no strings attached (like Bermuda)

TalRussell 8 years, 8 months ago

Comrade Sheeprunner12, couldn't the Chinese say the same thing? Either way what makes you think Izmirlian would not still have shown his contempt for the parties, by not showing up at the PMO? Do you know if this man even bothered to request a meet with the PM, in person over the past 14 days?

newcitizen 8 years, 8 months ago

Don't feed the trolls. Tal is just posting to get a reaction.

HarryWyckoff 8 years, 8 months ago

Tal - if you really think Izzy is the bad guy in this shitstorm, you're in for a very very bumpy ride.

If the Chinese get the resort, as rumored to have been promised from the start by the despicably corrupt Christie, then the Bahamas is essentially finished in terms of US/European tourism, financial services, and foreign investment from any non-communist/socialist country.

Which leaves us with..... What's? Our amazing export industry? Our unstoppable manufacturing industry?

Read up more on Chapter 11 (which was fine for Atlantis, just not BahaMar!?!?!) if our corrupt leaders hadn't interfered so they could keep their promises to their new communist bankrollers, work would be continuing. Right. Now.

asiseeit 8 years, 8 months ago

Paying those workers was choice OUR "little emperor" made. How come Atlantis went into chapter 11 and our government did NOTHING? What great strides do you speak of, flying back and forth to China? If you are upset with the developer sending minions then by rights our "little emperor" has done the same by sending our crooked A.G. Once again you are letting your Bahamian pride cloud your judgement. Speaking of Bahamian pride why would you not back Bahamians finishing this project and why have you not blasted the real reason for the resort not opening, missed deadlines and shoddy workmanship by the Chinese?

sheeprunner12 8 years, 8 months ago

Tal................ I think we have all underestimated the tenacity of this Russian fella .......... we are overmatched and the Chinese have met someone who will stand up to the bully

TalRussell 8 years, 8 months ago

C'mon Sheeprunner12, not as grossly underestimated as we nation's PM's was, by izmirlian. It's likes PM Christie, is in he own, Izmirlian Hunger Games.

sheeprunner12 8 years, 8 months ago

We = The Bahamas (off course the PM+Cabinet represents our national interest) ................... am not a "Hunger Games" expert (idk)

TalRussell 8 years, 8 months ago

Comrade how do i tell a Sheeprunner, to "Read da book, without laughs.

RealDeal 8 years, 8 months ago

Are you sure he is Russian? Izmirlian sounds Armenian to me, but I'm not 100% sure!

Craig 8 years, 8 months ago

Why is the PM and his cohorts so hell bent on ousting Baha Mar? Is it hubris or may out of control ego? Perhaps its pure ignorance and lack of understanding of the real situation. Baha Mar wants CCA out and I can understand why. CCA is yet to prove they are wiiling or able to complete the project. They are main reason the resort isn't open yet. Its amazing to see the PM, AG and others in the government glazing over that fact. Let the local contractors complete the project.

John 8 years, 8 months ago

Food for thought: Hubert Ingraham,at the outset of the Bah Mar project, felt it was too big to be done all at once. He was requesting the project be done in phases like Atlantis. However he was flown to China and persuaded by the Chinese to have the project done all at once. So did the Chinese have ulterior motives from the beginning? O what a tangled web we weave!

Craig 8 years, 8 months ago

Considering the project is 97% complete I don't buy the argument that it was too big to be done at once. The project is very close to completion and has been that way for sometime. All that is needed is for the developer to be allowed to complete. Some other forces are at work here. Perhaps you are right in regards to the Chinese having ulterior motives. That I agree with.

TalRussell 8 years, 8 months ago

Comrade Craig, that it was too big to be constructed at once" was never the issue." The issue was and remains that it was, "too big of a project to introduce into our limited tourism market, at one time. "The smart thing for Baha Mar to have done from the get go, would have been to open the various properties as soft openings and in stages. By the sounds of it, Izmirlian is still talking all gun hoe about hitting a grand slam opening of all the properties.
Whether they can reach a meeting of the minds or not, Baha Mar will never be one step closer to operating under profitability. Not only is its size going to remain a financial bomb but its entire adult and gambling concepts, are so out of date and out of step with today's tourism expectations.
Just take a look a the nearing bankruptcy of the outdated Las Vegas model for you to better understand, how badly planned Baha Mar has always been.

sheeprunner12 8 years, 8 months ago

Yes the Chinese always have ulterior motives ............ how do you think they were able to go from dirt poor in 1960 to having the USA eating out of their hand today?????? They plan for the future while we live from day to day ............ they had their eyes on Izzy hotel all the time... but he is bucking against their (and Perry's & PLP) schemes ........... I hope his pockets deep enough to settle this in the Privy Council ........... this will be a watershed legal case

The_Oracle 8 years, 8 months ago

I can just see our illustrious contingent, scheming their way across the oceans, embracing their own convoluted "solutions" only to get shut down by the real chess masters. I think we are about to find out how far down the yellow river we have ben sold.

Bahamian_in_London 8 years, 8 months ago

Why hasn't the Govenment responded to Baha Mar's offer if putting in another $200m and ousting CCA, replacing them with Bahamian contractors. If they supported this, they could easily push CCA and China ExIm do do a deal in the same way they have been pushing Baha Mar.

Wideawake 8 years, 8 months ago

We wait and we watch to see whose side The Bahamas Government is on...Baha Mar and the Bahamian Nation or CCA and the Chinese Government. If not FIRMLY on the side of Baha Mar and Bahamian Nation, exactly why not!!!

newcitizen 8 years, 8 months ago

The government has no power in this. They are doing what they are told by the Chinese bank. They were bought and now they have no sway in the negotiations except to back their benefactors.

Bahamian_in_London 8 years, 8 months ago

That is certainly what it looks like. The FNM have an opportunity to push for this, but they too have been silent, allowing Christie to get away with his silence. Terrible representation for this country.

John 8 years, 8 months ago

The structure may be 97% complete but getting a project that size up and running to a level of profitability is another challenge. There is little or no local market so what will be the attraction to this property? Most Americans still prefer cruise ships and/or cannot afford frequent visits to Bah Mar just to gamble. If the project was done in stages it would have been easier to obtain profitability and there would have been the opportunity to adjust the product.

Wideawake 8 years, 8 months ago

The discussions are still inching forward; gradually all parties are gaining a greater understanding of exactly where they stand. I would love to know what CCA and CEX-IM Bank are REALLY saying to each other. Has CCA ever admitted, even privately, that they did substandard work?????

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