Left to right: Alastair Beveridge, AlixPartners Services UK; Nick Cropper, AlixPartners Services UK; and Edmund Rahming, KRyS Global, Bahamas
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Alastair
Beveridge and Nick Cropper, of leading global business advisory firm
AlixPartners Services
UK LLP (AlixPartners), and Edmund Rahming of KRyS Global have today
been appointed Joint Provisional Liquidators (JPLs) over Baha Mar Ltd,
Baha Mar Land Holdings Ltd, Baha Mar Properties Ltd, BMP Three Ltd, BMP
Golf Ltd, Cable Beach Resorts Ltd, Baha Mar Enterprises
Ltd, together Bahar Mar PL (the Group).
Baha
Mar is a luxury resort development located in Nassau, Bahamas. The
development includes a
range of hotel, leisure and entertainment facilities and was launched
as the largest single phase construction project in the Western
Hemisphere.
Friday’s appointment was effected by the Bahamas Court following winding up petitions
submitted in response to the Group’s Chapter 11 filing in June 2015.
Commenting on behalf of the JPLs Edmund Rahming of KRyS Global said:
“This
is both a high profile and extremely complex situation which impacts a
wide range of stakeholders,
not least of all the people of The Bahamas. As a result the ultimate
success of the Baha Mar project is in everybody’s interest and priority
now is to begin our work in order to identify the best route forward. We
will be working closely with all appropriate
stakeholder groups throughout and further updates will follow in due
course.”
About AlixPartners
--- AlixPartners
is a leading global business-advisory firm of results-oriented
professionals who specialize in creating value and restoring performance
at every
stage of the business life cycle. We thrive on our ability to make a
difference in high-impact situations and to deliver sustainable,
bottom-line results. The firm’s expertise covers a wide range of
businesses and industries whether they are healthy, challenged
or distressed. Since 1981, we have taken a unique, small-team,
action-oriented approach to helping corporate boards and management, law
firms, investment banks and investors to respond to crucial business
issues.
About KRyS Global
-- Founded in 2007 in the Cayman Islands, KRyS Global is an international
fraud investigation and dispute resolution firm. The firm has grown to
over 65 outstanding professionals working from eight offices worldwide,
predominantly situated in offshore financial
centres. KRyS Global has built an enviable reputation for timely,
proactive and innovative solutions, particularly in situations of
uncertainty, leveraging the knowledge and experience of our
professionals and incorporating practical common sense in ensuring
positive outcomes for our clients.
