Baha Mar demands $192m in damages
Baha Mar yesterday made good on threats of legal action against its Chinese contractor partner, swiftly launching a $192 million damages claim in the UK High Court against its ultimate parent.
Baha Mar creditor list masks Bahamian loss
Baha Mar’s creditors list fails to show the full extent of the damage to Bahamian businesses and economy, as several companies expressed fears about “getting anything” of what they are owed following the Chapter 11 filing.
Bahamian contractors: We’ll finish Baha Mar
Bahamian contractors were yesterday urged to band together and complete the $3.5 billion Baha Mar project themselves, a leading sector player slamming as “a fallacy” the Government’s stated position of not taking sides in the dispute.
Laundry provider closes without $1M Baha Mar payment
Baha Mar has warned its laundry services provider is likely to be forced out of business if the resort developer is unable to quickly pay a $1 million debt, an event that would be “catastrophic” for its Melia Nassau Beach property.
Union hopes injunction will block BTC lay-offs
The union representing Bahamas Telecommunications Company (BTC) line staff yesterday said it was seeking a Supreme Court injunction to block the lay-off of 140 staff, as its leader expressed surprise over the Government’s failure to intervene.
Union ‘ready and willing’ to work with Sandals management
NEWLY elected president of the Bahamas Hotel Maintenance and Allied Workers Union (BHMAWU) Donnell Ferguson said yesterday that the union was “ready and willing” to work with management at Sandals towards completing and industrial agreement “within a reasonable timeframe”.
Bids for Customs electronic single window to go out in October
Bids for the development of an electronic single window (ESW) for the Customs Department are expected to go out sometime in October of this year according to Comptroller Charles Turner.
Baha Mar’s ‘cash run out’ by today
Baha Mar’s dash for Chapter 11 bankruptcy protection was sparked by fears it “would run out of cash” today, with the $3.5 billion project’s inability to open on March 27 having had a “disastrous” and “devastating” effect.
Baha Mar contractor wanted ‘four times’ more funds than due
Baha Mar yesterday accused its Chinese construction partner of demanding financial compensation that was more than four times’ greater than the sum verified by its financier’s project monitor.
Baha Mar targets $200m claim on Chinese builder
Baha Mar is aiming to pursue more than $200 million worth of claims against its main Chinese contractor partner, its Board yesterday determining that legal action against China Construction is “possibly imminent”.
Baha Mar troubles ‘threaten recession’
The FNM’s deputy leader yesterday warned that Baha Mar’s ongoing woes threaten to throw the Bahamas back into a recession, and said: “It is the day we feared.”
Optimism after fly fishing industry consultation
Bahamian Fly Fishing Industry stakeholders yesterday expressed greater optimism over the future of the industry on the heels of a national consultation on a new proposed regulatory regime.
Some mandatory VAT registrants ‘yet to come forward’
Six months into the implementation of Value-Added Tax (VAT) there are still some mandatory registrants who have not yet come forward, the Ministry of Finances Financial Secretary John Rolle said yesterday, but he added that revenue intake from the tax continues to “line up with expectations”.
‘Great progress’ in helping insurance industry transition to VAT regime
Financial Secretary in the Ministry of Finance John Rolle said yesterday that great progress had been made in terms of helping the Bahamian insurance industry transition to the Value-Added Tax (VAT) regime.
Fly Fishing AGM was ‘dog and pony show’
THE Bahamas Fly Fishing Industry Association’s (BFFIA) annual general meeting (AGM) has been slammed as a “disaster” and a “dog and pony show”, with one group telling Tribune Business it no longer recognizes it as the industry’s voice.
