By RASHAD ROLLE

Tribune Staff Reporter

rrolle@tribunemedia.net

BAHAMAS Electricity Corporation Executive Chairman Leslie Miller said people must “look at the big picture” with Baha Mar, concentrating on getting the resort open rather than on the developer’s failure to pay its hefty electricity fees.

According to documents Baha Mar filed in the US District of Delaware as part of its Chapter 11 bankruptcy case, the resort owes BEC $19.5m.

Among the resort’s creditors, only China Construction America (CCA) Bahamas Ltd is owed more, at $72,635,100.

However, Mr Miller said Baha Mar owes BEC more than the disclosed amount. Nonetheless, he said that the issue of paying BEC its debt is “sideline stuff.”

“That $19m was from when they bought Crystal Palace over 10 years ago,” he said. “It’s about $24m they owe now. But in the larger scheme of things, when you putting up that magnitude of a project, you have to try to work with the group as it restructures its debts in order to give it a short time frame to get it open. That’s what’s important. We just have to work with them, as I’m sure BEC at some point will get around the table and see how to work out their payments.”

Mr Miller, who has often criticised major companies in the Bahamas for being delinquent in paying their bills, added that PowerSecure, the new company the government has contracted to manage BEC, knows about the outstanding debt.

He added: “The debt has no bearing on PowerSecure and its role in BEC. There is no connection between the two because the company knew what it was facing when it came on as far the Baha Mar situation is concerned.”

“We have to look at the big picture. We have to provide those jobs at Baha Mar for Bahamians. Get it open. BEC debt payments are sideline stuff. Let us focus on the big picture, that Baha Mar must open up before the end of the year.”

“The most important thing is that this project is massive and very valuable. It will weigh heavily on economic life in our country for the future. The project is almost completed. They can’t get a helicopter and take it and put it elsewhere, therefore it’s in the best interest of everybody to work toward the singular goal of getting the project ready.”