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Last Updated: Feb 13, 2017 - 1:45:37 AM |
 The decision by the China Exim Bank, the project financier, to foreclose on the stalled Baha Mar project and to appoint a receiver to expedite the completion and opening of the resort is positive news.
The decision will mean a new era of cooperation to get the project finished and people back on the job. There is much work to be done but we believe that this is a necessary step to give the project overall direction and control. Our main aim, objective and wish are to ensure that the job prospects of the 2,000 displaced Baha Mar workers are improved so that they can return to work in the shortest possible time.
The PLP notes the Joint Provisional Liquidators’ statement that they will work closely with the Receiver, noted accounting firm Deloitte and Touche, The Bahamas Government, the Financier and the General Contractor in facilitating a speedy resolution to this matter in the national interest. This too is positive news. This atmosphere of cooperation can only strengthen the interests of commercial parties in remaining a part of the project, thus ensuring its success.
The government of The Bahamas under the leadership of the Rt. Hon. Perry G. Christie has demonstrated considerable patience, confident and strong leadership skills during these negotiations, at all times protecting the sovereignty of The Bahamas, the investment of Bahamian suppliers and demonstrating to the global community that the government has given the developer every available opportunity to retain control of the project. The government is commended for its overall handling of this crisis and has the full support of the PLP.
The PLP encourages the government to continue to aggressively pursue the requisite bridge financing necessary to cause for the re-engagement of the displaced Bahamian employees at the resort.
© Copyright 2015 by thebahamasweekly.com
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