FTX lawyers apply for creditors stay
FTX’s Chapter 11 lawyers applied for a motion for the enforcement of an automatic stay from creditors in FTX proceedings due to shuffling of funds days prior to the chapter 11 filing, new court filings state.
Reformer predicts 'great year' for economy
The New Year is expected to “crystalise the reconsolidation of the economy", says a governance reformer as 2023 foretells a year of “great performance” for the economy.
Court filing sheds light on FTX fund transfers
FTX’s Chapter 11 lawyers applyed for a motion for the enforcement of an automatic stay from creditors in FTX proceedings due to shuffling of funds days prior to the chapter 11 filing, new court filings state.
Bahamas shrugs off FTX for perfect ‘40 out of 40’
The Bahamas yesterday shrugged off FTX’s implosion through what the attorney general hailed as the “enormous accomplishment” of a perfect score in the fight against financial crime.
‘Unprecedented’: Hotel staff enjoyed slow season boost ‘unpred
Many hotel staff worked “unprecedented” five-day weeks during the tourism season’s slowest months, a union leader revealed yesterday, as he bids to complete multiple new industrial agreements in early 2023.
Ex-AG: Don’t let ‘proper’ FTX collapse probe slide
A former attorney general yesterday warned The Bahamas against letting a “proper probe” into FTX’s implosion slide because of its perfect score in the financial crime fight and Sam Bankman-Fried’s departure.
Investor seeking $2.7bn in South Ocean dispute
A controversial Austrian investor is pledging to seek an extraordinary $2.7bn in damages if his attempted acquisition of New Providence’s 384-acre South Ocean resort is ultimately thwarted.
Realtor has ‘never seen such high rental rates’
A Bahamian realtor says he has “never seen such high rental rates” as now exist in some of western New Providence’s most upscale communities with demand in this segment now suppressing available-for-sale inventory.
Gas station warning of New Year lay-offs
A gas station operator yesterday warned the 24 percent minimum wage increase will “almost certainly” force the sector to cut staffing levels unless the Government grants a long-awaited margin increase.
‘Breath of fresh air’: 150k cruise arrivals over Xmas
The Downtown Nassau Partnership’s (DNP) co-chair yesterday hailed the increase in cruise ship traffic as a “breath of fresh air” for business with close to 150,000 passenger arrivals forecast for Christmas week.
Water Corp: $1.2m claim was resort financing ploy
The Water & Sewerage Corporation has defeated a $1.227m damages claim for trespass that it alleges was merely a ploy attempting to force it to finance a planned Andros eco-resort.
‘I want Schooner Bay progress’, says ex-PM
An ex-prime minister yesterday asserted he wants to see “progress and development” at an Abaco community once held up as sustainable development model following its baffling break with a former management partner.
Gas prices on the way down ‘for first quarter’
THE vice president of the Bahamas Petroleum Dealers Association said gas prices are trending downwards, something he expects to continue leading into the first quarter of the new year.
Grocers president agrees with IDB on price controls
THE president of the Retail Grocers Association said recent commentary from the Inter-American Development Bank (IDB) on the negative impact of expanded price controls on businesses is “spot on”.
CCA: We’ll ‘be laughed at by world’ if Baha Mar not open
Top executives at Baha Mar’s main contractor voiced fears they would “be laughed at by the world” if the mega resort’s target 2015 opening was missed while admitting to multiple “shortcomings and deficiencies” in its construction.
