0

Baha Mar: Winding Up Process “Abusive And Oppressive”

BAHA MAR issued a statement following the adjournment of the Supreme Court hearing on the government’s petition to wind up the resort on Friday, calling the application “misguided” with fatal flaws and the process “abusive, oppressive and in bad faith”.

The statement read: “The Government’s entire application is misguided and without merit, and the whole process is abusive, oppressive and undertaken in bad faith. We look forward to demonstrating those facts to the Court. Moreover, it should be clear to the entire country that the Government’s action do not serve the best interests of the Bahamas and its people. Those interests are best served by the completion and opening of the resort, a process that the Winding Up Petition will only undermine and delay.

Additionally, the Government’s hastily submitted application contained numerous fatal flaws in procedural terms. Those errors were then compounded by their last-minute announcement that the persons they had proposed to act as provisional liquidators were, in the Government’s revised estimation, unsuitable.

In any case, the appointment of a provisional liquidator is entirely unwarranted under the law, and given how the Government’s first attempt to recommend three PWC (PricewaterhouseCoopers) resulted in a preposterous reversal, we cannot accept at face value the Government’s assertion that it has now taken the appropriate steps to get it right. Considering the hundreds of Bahamian and international creditors and other parties involved in this situation, it is both necessary and appropriate that we have time to satisfy ourselves that the proposed individuals are truly independent and conflict-free, regardless of the calibre of the firm the Government has identified.

We are concerned that the Government’s continued actions are only serving to distract the parties from the negotiations that are continuing, where we are making real, if slow progress, and to which we have always been committed. Our unwavering aim is to reach an outcome that enables Baha Mar to complete construction and open the resort to the benefit of the Bahamas.”

Comments

MonkeeDoo 5 years, 5 months ago

Christie's people were too damned excited to even try to get it right. And this is our AG and Minion, who together control the legal system in this country. This will truly make us out to be jackasses, not thinking before leaping, when it all gets to the Privy Council. If only they could feel shame and embarrassment. .

7

proudloudandfnm 5 years, 5 months ago

Government knows it cannot force Bahamar into liquidation at this point.

This was an ignorant move designed to pander to PLP that will believe anything this party tells them.

5

TalRussell 5 years, 5 months ago

Comrade Izmirlian, just you keep issuing such misguided looking pick a fight with da prime minister, statements and the next time you do, don't be too surprised to find ya self, writing your next statement under lights from lamps fueled by kerosene - that is - unless you got's ways pay $26 million quick cash owing to pay BEC.
And da kerosene man's, don't give no credit.
No lights equates to no more need beg taxpayers, be paying da payroll of "your" citizens.
All I can say is, Izmirlian is so damn lucky, the other former law partner got defeated.

0

BahamaPundit 5 years, 5 months ago

Why are Bahamians so afraid to express themselves? This man is not afraid, let him speak and learn from his example. It seems that Bahamians love to hide behind a little colonial rock and tremble from the big boss. We have to grow out of this fear; it's nothing to be proud of.

5

Wideawake 5 years, 5 months ago

I think Sarkis is winning the current public relations battle and I am not surprised he has the courage to speak his mind; after all he had the courage to embark on the biggest development project ever attempted in The Bahamas: then he had the courage to seek satisfaction in the courts in the USA and UK when his project ground to a halt. His lawsuit in the UK is tantamount to suing the Chinese Government!

His courage in fighting for what is rightfully his, should serve as an inspiration to all Bahamians, who must speak up and stand up and make sure that justice is done!

6

JohnBuchanan 5 years, 5 months ago

TR: Quite incredibly, the U.S. court issued an order yesterday that BEC cannot turn off the power or demand any payments from Baha Mar based on the bankruptcy filing. That is a direct attack by the U.S. court on the sovereignty of the Bahamas. I am surprised no local media has reported that.

0

BahamaPundit 5 years, 5 months ago

Please provide a link to the order you mentioned.

5

Publius 5 years, 5 months ago

Here goes this obsessed hack @John again

0

Well_mudda_take_sic 5 years, 5 months ago

In all fairness, Justice Winder should have ordered that all costs of today's hearing be borne by the Christie-led PLP government for having put forward the names of PwC partners to act as provisional liquidators who could not serve in such capacity because they have a fundamental conflict of interest. It's amazing that the PwC partners concerned had apparently attested in an earlier sworn affidavit to having conducted an independence check within their global organization in order to verify their independence, only to have to later acknowledge by letter (presumably on being called out by others) that they are in fact not independent. Baha Mar should not find itself saddled with the costs of today's hearing no matter what the eventual outcome of the hearing to appoint provisional liquidators. Today was nothing but a typical useless and costly day before the Bahamas Supreme Court, one of many that will lie ahead if the Christie-led PLP government does not come to its senses and withdraw its foolish and vindictive petition for the liquidation of Baha Mar.

5

Reality_Check 5 years, 5 months ago

It certainly does seem that Maynard-Gibson (aka the Wicked Witch), Gomez (aka the Minion) and their Chinese backers wanted to have the deck stacked against Baha Mar from the very outset by the appointment of provisional liquidators partial to their devious interests and with an apparent antagonistic attitude towards Sarkis Izmirlian. All of this nonsense and foolishness on the part of our government, motivated by small vindictive and malicious minds, really must stop!

5

Wideawake 5 years, 5 months ago

Amateur Hour in The Bahamas.....while the World watches!

2

Zakary 5 years, 5 months ago

@ http://www.tribune242.com/news/2015/j..." title="JohnBuchanan">JohnBuchanan

  • Quite incredibly, the U.S. court issued an order yesterday that BEC cannot turn off the power or demand any payments from Baha Mar based on the bankruptcy filing.

Wrong. This order was issued at the http://www.thenassauguardian.com/news..." title="Judge says utility providers must not cut off Baha Mar" target="_blank">beginning of July. I don’t know what agenda you are running but your consistency is incredibly lacking.

  • That is a direct attack by the U.S. court on the sovereignty of the Bahamas.

Wrong again, sonny. The courts are one of the best places to maintain sovereignty. A court of law cannot attack the sovereignty of another country, that's why we have jurisdictions;

  • A U.S. judge in Delaware yesterday handed down an order “prohibiting utility providers” from altering, refusing or disconnecting services from Baha Mar resort on Cable Beach.

  • But a Supreme Court justice in The Bahamas would have to approve the U.S. orders made in relation to Baha Mar if they are to stand in this jurisdiction.

See those facts above? The Bahamas has the sovereignty and the power to reject such orders, so tell me, what are you smoking?

  • I am surprised no local media has reported that.

Two wrongs don’t make a right, and three wrongs mean you’re an idiot (I mean that in the nicest way possible). The media did in fact report this and they reported it http://www.thenassauguardian.com/news..." title="Judge says utility providers must not cut off Baha Mar" target="_blank">29 days ago.

5

Economist 5 years, 5 months ago

European countries have no problem acknowledging US bankruptcy proceedings. Our government is just showing its gigantic inferiority complex.

7

Wideawake 5 years, 5 months ago

Unfortunately Government rushed into their court action without thinking it through ; if cooler heads had prevailed they could have found a way to accommodate Baha Mar's Chapter 11 protection, in a spirit of co-operation and with the best interests of Bahamians in mind. By staying above the fray in a truly Statesmanlike manner they could have helped get the project back on track and would have looked good in the process.

7

Sign in to comment