By AVA TURNQUEST
Tribune Chief Reporter
aturnquest@tribunemedia.net
BAHA Mar’s joint provisional liquidators (JPLs) have re-engaged China Construction America (CCA) as the general contractor at the stalled $3.5bn mega resort, according to a statement released on Thursday morning.
KRyS Global (Bahamas) and AlixPartners, the JPLs, confirmed that CCA have returned to the site as of Wednesday for analysis and assessment of the work necessary to complete the project.
Once completed, CCA’s assessment will be used to inform a new round of discussions between all stakeholders.
“The move is a much-anticipated breakthrough in the stalled $3.5 billion resort project following a nine-week hiatus since developer Baha Mar Ltd filed for Chapter 11 bankruptcy protection in the US,” the statement read.
“With one exception, that filing was later dismissed by the Delaware courts and when the Bahamian court appointed Bahamas-based KRyS Global and UK-based AlixPartners as JPLs on September 4, the liquidators immediately engaged in talks with CCA. The announcement was the result of those talks.”
Baha Mar and its affiliates filed for Chapter 11 bankruptcy in Delaware on June 29, but the cases involving its Bahamian companies were dismissed last week.
CEO Sarkis Izmirlian has repeatedly called CCA to be removed from the project and replaced with Bahamian contractors. The resort and its general contractor have been at odds over the project’s missed deadlines, quality of work and financial disputes.
JPL Alastair Beveridge, of AlixPartners, said: “We’re delighted to be working alongside CCA. Their role here is extremely important and together we will now assess what needs to be done, and how long it will take, in order to complete Baha Mar such that it may open its doors to the public and introduce thousands of new visitors to The Bahamas. The work that we will now jointly undertake will inform the next round of talks with all parties. Those talks will take place in due course following the completion of our assessment,” he added.
Full story, see tomorrow’s Tribune
Comments
Sickened 8 years, 7 months ago
Ha! This is hilarious. The liquidators have gone back to the cause of the problem to find out what needs to be done. The has got to be the biggest joke in Bahamian history.
Why would anyone re-engage a contractor who doesn't know to use plumbers glue when running and connecting PVC water pipes? CCA have NO clue what they are doing and yet we are supposed to be happy that they are re-assessing their shit work!
Lord hear our prayers!!!
BaronInvest 8 years, 7 months ago
Wrong! What are you talking about ? You can just tell guests of the Baha Mar to flush multiple times when taking a dump. All you gotta do is being a bit more careful, who needs glue ?!
TruePeople 8 years, 7 months ago
Set-up Thing! Wasn't it CCA who was building the damn thing all kapunkle up in di first place?
"CEO Sarkis Izmirlian has repeatedly called CCA to be removed from the project and replaced with Bahamian contractors. The resort and its general contractor have been at odds over the project’s missed deadlines, quality of work and financial disputes."
So unemployment one of the highest in the region (and beyond) and the Hero of the Poor people PLP dem want cut off construction job for Bahamian. Bahamian law say you must employ qualified Bahamians first, and employ international personnel only if no qualified Bahamian is available. Oblivious that there are no laws here, just clauses politicians can pull on when it suits them, and ignore when it profits them. seriously
Honestman 8 years, 7 months ago
So CCA will now return to the site and complete the job according to Chinese standards of excellence!! I doubt that will satisfy a brand like Hyatt that has a worldwide reputation to protect. Looks to me as if all the brands will depart not wanting to be associated with an inferior product. We are looking then at a new owner coming in. Then what? Where will the bookings come from? There has been so much bad publicity surrounding this project that it is going to be very difficult to persuade American travel agents to risk their reputation by sending customers to a resort where, in all probability, the finishing is not going to be up to scratch. I wouldn't get too excited about this announcement - there is a long road ahead before the Beijing Palace opens up in any meaningful way.
Sickened 8 years, 7 months ago
You should edit your comment and put 'excellence' in quotations.
MonkeeDoo 8 years, 7 months ago
by MonkeeDoo
Just wait for it but keep your distance = or > the buildings height.
Sickened 8 years, 7 months ago
F'in hilarious! Unless of course they used the same construction method at Baha Mar... or you were the construction guy who got crushed when the building fell over in Shanghai.
sheeprunner12 8 years, 7 months ago
Izzie put up $800-900 million ........... then he borrowed $2.5 billion from the Chinese bank ...... that mandated that he engage CCA to build the hotel ........... now we stuck with a below standard hotel plant (by US hotel chains) .......... Izzie out on a limb and the Chinese licking their chops cuz they ga soon have the hotel and the land from the mortgage ......... and all Perry hoping for is 5,000 slave jobs......................... boy we Bahamians got F*#Ked right up
Sickened 8 years, 7 months ago
Perry must think that we are all in his cabinet and will just bend over and take it in the @$$!
asiseeit 8 years, 7 months ago
One would think that with all the dirty dealings and conflict of interest, Izzy would have been smart enough to have some insurance.
MonkeeDoo 8 years, 7 months ago
Izzy may have been able to manage Christie Dem but Chinky Squared was just too much. Guess what ? The Government will not own this and neither will Izzy. The SOVEREIGN NATION of THE PEOPLES REPUBLIC OF CHINA will own it lock stock and f...... barrel. Where is AMG's Sovereignty now ?
asiseeit, you won't have to worry about anyone else being smart enough to have insurance. They just won't be coming here. Full stop !
Wideawake 8 years, 7 months ago
CHNA MAR ?
MonkeeDoo 8 years, 7 months ago
Sickened: Why you think he is the Pushtee ?
FactsEvidenceProof 8 years, 7 months ago
All commentary herein literally confirms "Izzy's" incompetence and inexperience as an hotelier, and naturally it is always someone else's fault, in this case, PM Christie, the Cabinet and his administration. Never mind it was HAI to finalized this disastrous deal to begin with. An inconvenient truth, perhaps. Let the chips fall where they will. Viva Bahamas!
Wideawake 8 years, 7 months ago
CCA have done their inspection and assessed exactly what THEY think needs to be done to complete the development. The JPLs (Provisional Joint Liquidators) will look at CCA's "to do list" and will compare it with the inspection/assessment/list of complaints provided by Baha Mar.
They will realize, after comparing CCA's list with Baha Mar's list, the root cause of the disagreement between CCA and Sarkis Izmirilian!
Mr. Izmirilian is a perfectionist who wants and expects work of the highest standard in projects he is associated with, however, CCA are typical of Chinese contractors, whose standards are known to be suspect, and whose artisans, craftsmen and supervisory staff are lacking in expertise and pride in their work.
Both Izmirilian and CCA have had plenty time to sit and stew over the Baha MR debacle. Hopefully both will be prepared to compromise on their previous positions when the new round of discussions start.
I sincerely hope that Mr. Izmirilian's knowledge and expertise is deemed to be indispensable by the JPLs and that he can retain his equity in the Baha Mar project!
FactsEvidenceProof 8 years, 7 months ago
It is interesting that my first comment did not make the board; however I shall repeat it here for good measure. Most of the comments confirm "Izzy's" lack of expertise as an hotelier notwithstanding his "developer" title. The manner in which he handled this entire debacle speaks loudly to his inexperience as a businessman and savvy negotiator. He has dealt himself a hand that he is now forced to play. He blamed everyone else but himself, having the audacity to suggest that others act as guarantors for his debt to the China lenders. PM Christie and his government very masterfully executed their duties in total transparency on behalf of the people of The Bahamas and ought to be highly commended for their leadership wisdom and insight in these matters. Viva Bahamas!
BaronInvest 8 years, 7 months ago
I think i rather burn all my cash before doing another investment in this country.
FactsEvidenceProof 8 years, 7 months ago
Feel free to leave any time ... your cash won't matter any way
Sickened 8 years, 7 months ago
True. At least you will get two benefits from burning the cash... heat and light! Spend it here and you get !
Wideawake 8 years, 7 months ago
Pray tell us all about the $3.5 billion projects YOU have brought to 97% completion!
ObserverOfChaos 8 years, 7 months ago
wait till the world and these liquidators see the crappy work their chinese laborers did! Fitting put on wrong. Wiring mislabeled. Sewer pipes not connected right. Toilets not installed correctly. The list goes on and on....no wonder Sarkis wanted these A** holes out of the project! So good luck Bahama Govt trying to manage this cluster! You deserve it...
MonkeeDoo 8 years, 7 months ago
FactsEvidenceProof: Your first post is on the board. Did you see Baltron Bethel's unfortunate e-mail to the Eximbank colluding with them to cut the developer out. Maybe you didn't see that but you seem to be a dipshit anyway.
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