The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemdia.net

The Government believes talks between Baha Mar’s Chinese stakeholders will lead to an “imminent remobilisation plan” and the project’s re-opening “in the shortest possible timeframe”.

Antionette Bonamy, director of legal affairs in the Attorney General’s Office, made clear in an affidavit filed with the Supreme Court that the Christie administration hopes completion of Baha Mar’s convention centre will lead to greater things.

Ms Bonamy’s affidavit, filed in support of yesterday’s successful application by the Government to adjourn its Baha Mar winding-up petition for another three months, until May 2, 2016, said the project’s Chinese financier and contractor were in discussions about restarting construction work.

“Since the last adjournment, there has been an agreement between the receiver-managers and the Government of the Bahamas for the use of the convention centre, which is part of the Baha Mar development, to host a major international financial conference in March-April of this year, and the parties are actively proceeding with plans to accommodate this purpose,” Ms Bonamy said.

Prime Minister Perry Christie last week expressed hope that when work resumes on Baha Mar’s convention centre, in order to complete it for the upcoming Inter-American Development Bank (IDB) conference, the same construction team would remain on-site to complete the rest of the resort.

Ms Bonamy, backing this expectation, said: “Significantly, there have been positive ongoing discussions between China Export-Import Bank and China State Construction and Engineering Company (CSCEC), the parent company of the local general contractor for the project, with respect to remobilisation of construction and the resumption of work at the project.

“As an interested party and stakeholder, the Government has been kept informed of these discussions and has used its good offices to facilitate discussions between the parties.

“It therefore believes that these discussions will imminently result in a plan for the re-mobilisation of the Baha Mar project, and pave the way for a detailed timetable to move the project toward completion and reopening in the shortest possible timeframe.”

   Loren Klein, attorney/adviser in the Attorney General’s Office, told Tribune Business yesterday: “This is a very large, complex project, and some of the stakeholders are located half a world away.

“Some of the commercial realities are that it is going to take a little longer to put a process in place for remobilisation and get it completed, but there have been some very positive developments so far.”

Mr Klein said Baha Mar’s receiver/managers and joint provisional liquidators will remain in place even when work starts.

Baha Mar and 14 of its affiliated companies filed for Chapter 11 bankruptcy protection in a Delaware court on June 29 last year, blaming the resort’s contractor, China Construction America (CCA), for delays that caused it to miss previous opening deadlines.

However, the bankruptcy protection for Baha Mar’s Bahamian-based companies was later thrown out. In reaction to the bankruptcy filing, the Government filed a winding-up petition against Baha Mar in the Supreme Court.

The court later approved the appointment of the joint provisional liquidators, Bahamian accountant Ed Rahming and UK-based Alix Partners. I

n late October the Supreme Court authorised the termination of 2,026 employees at the stalled development. The joint provisional liquidators said the lay-offs were due to the project’s financial insolvency.

Deloitte & Touche was subsequently appointed as the China Export-Import Bank’s receivers for the resort.