Press conference, June 30th, 2015 in the Office of the Prime Minister
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Nassau, Bahamas - The following is a statement from the Office of the Prime Minister:
Yesterday, without notice, Baha Mar
filed a bankruptcy Chapter 11 petition in Delaware USA. This action was taken
at a point when my personal intervention over several months with all three parties
involved, led to substantial agreement on a packaged solution for additional
funding by China Export Import Bank, the resumption of construction work by the
general contractor, and the project completion. This is supported by exchange
of correspondence as recently as June 26.
The Government wants to reiterate
that the number one priority of all stakeholders involved with the Baha Mar
project should be its swift completion and opening. It is of great importance
to the nation and to all Bahamians that Baha Mar opens successfully. We must
all work towards this goal as a matter of national priority. This is not the
time to play politics, but rather, we must unite to ensure the best interest of
The Bahamas and all Bahamians is met. In the interest of promoting transparency
and national unity on an issue that clearly transcends partisan politics, I
invite the Leader of the Opposition to attend a briefing on the matter.
The Government remains committed
to being open and transparent with the Bahamian people, as it has since the
beginning of this project. Any claim that the Government or I have been misleading
the public as it relates to the status of Baha Mar is completely false.
The Government has been working with all parties and negotiating in good faith,
and with an end goal of a successful opening of Baha Mar. The decision by Baha
Mar to file for Chapter 11 under the U.S. Bankruptcy Code does not change our
end goal.
Negotiations must continue to
progress immediately to ensure the successful opening as soon as possible. As
previously stated, the Government will not take sides, but rather continue to
support all stakeholders in coming to a resolution. As the Government of The
Bahamas, we take the side of the Bahamian people, and we are acting to ensure
the needs and interests of the people are first and foremost.
This project will provide great
economic opportunities for our country. Collectively, our sole focus should be
on Baha Mar opening so that the jobs of current and potential employees are
protected. This goal should not be and will not be, distorted by politics.