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WHAT an unmitigated disaster – the Baha Mar dream is over and 2,000 redundant Bahamian employees have been sent home to face a bleak Christmas.
BAHA Mar CEO Sarkis Izmirlian said yesterday he is unsure of the future of the $3.5 billion Cable Beach resort after more than 2,000 employees were made redundant.
TWO THOUSAND Baha Mar employees have been made redundant immediately after Justice Ian Winder granted approval in the Supreme Court on Thursday morning to the Baha Mar joint provisional liquidators’ request to make layoffs.
DEMOLITION efforts in the Gamble Heights community on Friday left scores of residents "hopeless and homeless", many of whom claimed they were not given any notice by government officials and landowners.
BAHA Mar’s ongoing Chapter 11 bankruptcy proceedings in the United States will not be recognised in The Bahamas, a Supreme Court judge ruled on Wednesday morning.
SARKIS Izmirlian, the developer of Baha Mar, is willing to commit up to $200m to jump start the stalled $3.5bn Cable Beach project, lawyers for the mega-resort told a United States bankruptcy judge yesterday.
FOREIGN Affairs Minister Fred Mitchell yesterday dispelled notions that government’s handling of the Baha Mar bankruptcy ordeal would “scare off” potential foreign investors.
A government delegation led by Attorney General Allyson Maynard-Gibson will travel to China this weekend for the resumption of negotiations “aimed at the early completion and opening of the Baha Mar resort”, Prime Minister Perry Christie has announced.
In statement released on Friday night, CCA Bahamas Limited, the construction manager and general contractor for the Baha Mar project, has said that it believes the resort can be finished for the winter season - if a swift resolution to the current impasse is reached.
Resort wants local workers to finish building
DESPITE the government’s return to Beijing, Baha Mar developer Sarkis Izmirlian is seeking to strike a deal with its Chinese lender to cut the resort’s general contractor, China Construction America, out of negotiations and use Bahamian contractors to complete the project, according to a letter sent to Export-Import Bank of China obtained by The Tribune.
THE bitter war of words between Baha Mar and its general contractor continued yesterday with resort executives calling China Construction America’s (CCA) offer to invest $100 million in the stalled project a “sham”.
THE government’s delegation to assist with negotiations over the stalled Baha Mar project is en route back to the Bahamas this afternoon.
PLP Chairman Bradley Roberts yesterday accused Baha Mar Director and businessman Diosinio D’Aguilar of putting thousands of resort employees at risk due to his “inflammatory remarks”, “creating confusion, making inflammatory remarks against the government and placing thousands of jobs in jeopardy.”
ACTING Attorney General Damian Gomez said yesterday “there is a likelihood” the government will pay the salaries of Baha Mar’s Bahamian employees for the work period that ends today.
THE success or failure of the Baha Mar resort will determine Prime Minister Perry Christie’s legacy, Free National Movement deputy leader Peter Turnquest said yesterday as he insisted that the nation’s chief ought to be more involved with the negotiations.
BAHA Mar CEO Sarkis Izmirlian said yesterday he felt personally attacked by Perry Christie and the government of the Bahamas, adding that if the Prime Minister applied the same pressure on the China Import Export Bank and China Construction America as they did the resort, “there would already be a deal”.
FOREIGN Affairs Minister Fred Mitchell yesterday declared that there was an “existential” threat to the governance of the country due to the deliberate and improper political interference of a “single investor”.
Marco City MP Greg Moss has pledged that he will start using an obscure House rule to begin tabling Bills in Parliament, effectively sidelining the agenda of the ruling PLP party during particular sittings.
THE Bahamas Chamber of Commerce and Employers Confederation has come out against the government’s efforts to wind up Baha Mar in the Supreme Court, expressing concern that this will not result in a speedy resolution to the resort’s issues.
A SUPREME Court judge adjourned proceedings on the government's petition to wind up Baha Mar to August 19-20 on Friday morning after revelations that Baha Mar's contractor has expressed reservations about the personnel appointed to serve as provisional liquidators for Baha Mar.
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 Christie Administration continued its public feud with Baha Mar Friday, calling the resort's most recent press statement concerning Friday's Supreme Court adjournment of its winding up hearing "misleading”.
FOREIGN Affairs and Immigration Minister Fred Mitchell yesterday continued his public recrimination of Baha Mar CEO Sarkis Izmirlian, saying an invitation should be extended to the developer “to consider making the appropriate steps to live elsewhere” if he cannot conform with the expected conduct of “economic guests.”
A SUPREME Court judge has granted leave for Baha Mar to appeal his previous ruling not to recognise its ongoing Chapter 11 bankruptcy proceedings in the Bahamas.
IN a memo sent to Baha Mar employees yesterday, resort developer Sarkis Izmirlian said in his 13 years working on the project he “never imagined” he would be “fighting” with the government over the $3.5 billion property.
A SUPREME Court judge yesterday granted leave for Baha Mar attorneys to appeal his previous decision not to recognise the mega resort’s ongoing Chapter 11 bankruptcy proceedings in the Bahamas.
BAHAMAS Real Estate Association President Carla Sweeting said she is “very concerned” about what will happen to Bahamian landlords if Baha Mar expatriates are forced to leave the country.
HUBERT Chipman, FNM Shadow Minister of Foreign Affairs and Immigration, yesterday condemned Fred Mitchell’s “rabid attack” on Baha Mar CEO Sarkis Izmirlian, adding that his “belligerent language” has harmed this country’s reputation.
DEPUTY Prime Minister Philip “Brave” Davis yesterday confirmed that the Christie administration will continue to pay Bahamian employees at Baha Mar until the $21m owed to the mega resort by the government for roadwork is exhausted.
FOREIGN Affairs and Immigration Minister Fred Mitchell yesterday blasted Baha Mar CEO Sarkis Izmirlian for recently suggesting that he and the government were “fighting” over the $3.5b Cable Beach property.
ORGANISERS of an anti-crime protest yesterday accused the Christie administration of “giving a deaf ear to the cries of the people” as the country’s murder rate continues to climb.
FORT Charlotte MP Dr Andre Rollins suggested yesterday that Foreign Affairs Minister Fred Mitchell is an “enemy of the state,” saying his recent comments about Baha Mar CEO Sarkis Izmirlian should prompt concern among Bahamians about the future of this country with respect to democracy and economic issues.
LABOUR Minister Shane Gibson yesterday defended Foreign Affairs and Immigration Minister Fred Mitchell’s public warnings to Baha Mar CEO Sarkis Izmirlian, and suggested that the government should now begin performing “psychological evaluations” on all foreign developers seeking to do business in this country.
FOX Hill MP Fred Mitchell’s constituency office yesterday accused Fort Charlotte MP Dr Andre Rollins of “betrayal of the worst kind” for his “defamatory” characterisation of their representative as an “enemy of the state.”
PRIME Minister Perry Christie yesterday said the warnings issued to Baha Mar CEO Sarkis Izmirlian by two of his Cabinet ministers is not the position of the government.
ATTORNEY General Allyson Maynard-Gibson has said there is no conflict of interest regarding her daughters owning stores that have leases with Baha Mar and her role as a government negotiator over the stalled project.