The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The Opposition’s finance spokesman yesterday said it was a “little late” for Prime Minister Perry Christie  to attempt to persuade Baha Mar’s Chinese contractor to complete the stalled project, but admitted: “It’s worth  shot”.

Mr Christie yesterday met with China Construction America’s (CCA) to discuss completion of the $3.5 billion project’s construction by December this year. 

Back in July, two separate Government delegations headed by Attorney General, Allyson Maynard-Gibson, travelled to China for meetings with the parties involved in Baha Mar that ultimately proved unsuccessful in reaching a conclusion.

“It’s a little late but, certainly, it’s worth a shot, “ said east Grand Bahama MP, K.P Turnquest, in a brief interview with Tribune Business.  

Last week, Delaware district Judge Kevin J Carey dismissed the Chapter 11 cases involving Baha Mar’s 14 Bahamian-domiciled companies, finding that ‘abstention’ was “in the best interests of the debtors and all the creditors”.

The only concession to Baha Mar was Judge Carey’s decision to allow the Chapter 11 case to continue for Northshore Mainland Services, the only Baha Mar company domiciled in the US.

He suggested that Northshore, which handles Baha Mar’s US call centre operations, “could serve as a useful vehicle for the parties as part of an overall resolution of the corporate family’s difficulties, in concert with the proceedings in the Bahamas”.

Baha Mar board member Dionisio D’Aguilar recently said that Baha Mar chief executive, Sarkis Izmirlian, was willing to reengage China Construction America (CCA) Bahamas if it could present a viable plan. 

“I would imagine if they can start construction relatively soon they can be finished within a year’s time based on their projection of being 98 per cent complete. They ought to be able to get the marketing plan and operational plan up to speed within a year,” Mr Turnquest told Tribune Business.

Baha Mar filed for bankruptcy protection in the  US on June 29 which subsequently prompted the Government to file a winding up petition against the resort.

The Supreme Court has now appointed provisional liquidators to over see the property.