thebahamasweekly.com - Bahamas Government Responds to Baha Mar’s Press Release of 17 July 2015

From:TheBahamasWeekly.com

Bahamas Information Services Updates
Bahamas Government Responds to Baha Mar’s Press Release of 17 July 2015
By Bahamas Information Services (BIS)
Jul 17, 2015 - 7:08:50 PM

Prime Minister the Rt. Hon. Perry Christie addressing the nation on Baha Mar during a national address on Thursday, July 16th. (BIS Photo/Peter Ramsay)

Nassau, Bahamas - (Statement in response to Baha Mar statement of July 17th) Prime Minister, the Right Honourable Perry Christie, has dismissed as “absolute nonsense” Baha Mar’s suggestion that the Government’s initiation of winding-up proceedings amounts to a seizure of private assets. Continuing, the Prime Minister said that it was disappointing that the principals of Baha Mar would not only utter such untruths but that they would do so in a way ”transparently calculated to damage the economic interests of The Bahamas”. The Prime Minister continued by saying that “the nationalization of private property is not only unconstitutional, it is completely repugnant to my personal political philosophy and ethos of governance and that of my government. I therefore reject, in the strongest possible terms, any suggestion to the contrary.”

Also addressing the matter, the Attorney General, the honourable Allyson Gibson QC said that it is unfortunate that Baha Mar has mischaracterized the winding-up proceedings in the way that it has.

“If appointed by the court, a provisional liquidator would be wholly independent and would be subject to the control and oversight not of the government but of the Bahamas Supreme Court”. Moreover, the Attorney General continued : “ there is no truth whatsoever in the suggestion that this is an attempt by the Government to nationalize Baha Mar’s private assets, something that is not only constitutionally unlawful but completely contrary to the policies of successive governments of The Bahamas. That is most certainly not the purpose nor the effect of any order that might be made for provisional winding-up of anything in The Bahamas”.

The Prime Minister also repudiated as “egregiously insulting and verifiably false” Baha Mar’s statement that he had misled the Bahamian people in his national address on Thursday past. In fact, he said, “my version of events, as related in my address, is supported in every material particular by China Exim Bank. In particular, China Exim Bank has expressed its disappointment to me today over Baha Mar’s lack of flexibility in this matter and their unwillingness to accept the sensible solutions offered to them in Beijing.”