Tuesday, November 3, 2015
By KHRISNA VIRGIL
Tribune Staff Reporter
kvirgil@tribunemedia.net
DESPITE Baha Mar being placed in receivership by the Supreme Court last week, Prime Minister Perry Christie remains optimistic that construction will begin within the next six to eight weeks to complete the project, Agriculture and Marine Resources Minister V Alfred Gray said yesterday.
He suggested that while the receivership process has been criticised, it has allowed great interest to be shown by potential investors in the $3.5bn property. He added that he would be “surprised” if the megaresort did not open by May 2016.
Mr Gray went on to assure the resort’s 2,000 workers, who were made redundant last month, that Mr Christie will soon announce his plans for their future.
He also insisted that the government has been “unfairly” criticised with respect to Baha Mar because its involvement in negotiations over the stalled project was requested by stakeholders following developer Sarkis Izmirlian’s Chapter 11 bankruptcy filing in a US court on June 29.
Mr Gray was a guest on Star 106.5FM’s talk show “Jeffrey” with host Jeff Lloyd when he spoke on several issues, including Baha Mar and the country’s festering crime problems.
“Well let me just say without speaking out of turn,” he said. “The prime minister and I spoke today (Monday) and he is very optimistic that construction will start within the next six to eight weeks.
“To the affected (workers) the prime minister will soon announce his plans for them. There is great interest being shown with respect to that property.
“The owner, under receivership, is the bank as you know. I am advised that they are searching for partners and they are very close to making that announcement. So all that I say is this, Baha Mar may be to the regret of a lot of people, but it will not be the monster that is not going to open. I would be very, very disappointed if Baha Mar on its present course is not opened by May of next year, which would be in the next six months. I would be very surprised. Everything is in train to make it happen.”
He added: “I think the government has been unfairly criticised. I’ll tell you why I think so. The government was invited by the parties, the bank, the construction company and Mr Izmirlian himself to get involved in the discussion (and) to seek resolution between the parties.
“If the government had taken the position (of) we are not getting involved to try and find the resolution, that in my view might have been justifiable criticism because to take a hands off approach in my view would not have been the right thing to do.”
Asked if the resort’s workers would be satisfied with Mr Christie’s upcoming announcement, Mr Gray said he was unsure, but stressed that the prime minister is a “compassionate people’s person” who would not turn his back on them.
On Friday, the Supreme Court granted a request from the Export-Import Bank of China to appoint Deloitte and Touche as receiver of Baha Mar.
Deloitte and Touche Managing Partner Raymond Winder and the firm’s partners in China were named as receivers.
While receivership was anticipated by many, some stakeholders were caught by surprise by how quickly it took place given that the respective parties had until November 25 to resolve their dispute ahead of a Supreme Court hearing on whether to put the company into liquidation.
The move is the latest consequence of the dispute that has brought the project to a standstill, culminating in more than 2,000 employees being made redundant in late October.
In the wake of the receivership, Attorney General Allyson Maynard Gibson has said the government will “only take steps that are in the best interests of the Bahamian people”.
However, Free National Movement Chairman Michael Pintard has questioned whether the Christie administration has a plan to deal with what he believes could be a protracted battle over Baha Mar as a result of the receivership.
Comments
bahamianadvocate says...
Six to eight weeks??? HA!!! Perry really delusional and Gray is a jackass to listen to him and repeat what he said.
Posted 3 November 2015, 3:40 p.m. Suggest removal
MonkeeDoo says...
Six to eight weeks construction people go on Christmas Break ! Oh I forgot. Chinese don't keep Christmas.
Posted 3 November 2015, 3:54 p.m. Suggest removal
SP says...
**.............................................. 8 more months left in 2015 .....................................**
http://tribune242.com/users/photos/2015…
Posted 3 November 2015, 4:04 p.m. Suggest removal
Honestman says...
The building will NOT be finished this year - anyone with a grain of sense can see that. Even when it is completed, getting it up an running is going to be a herculean task after all the bad publicity. Let's not even talk about a date when it starts to make money!!
Posted 3 November 2015, 4:31 p.m. Suggest removal
countryfirst says...
Anyone who believes anything these crooks say is a fool.
Posted 3 November 2015, 8:04 p.m. Suggest removal
Economist says...
He did not say what he defines construction as being. Maybe two men moving some soil???
Posted 3 November 2015, 8:21 p.m. Suggest removal
DEDDIE says...
The Government is trying to put a favorable twist on this fiasco. The liquidation process was absolutely a waste of time. None of the Government entities were secure creditors. Now they are in the same position as every other creditor.
Posted 3 November 2015, 8:25 p.m. Suggest removal
TalRussell says...
Comrades what is the nation's prime minister and none other than his agriculture and marine resources minister V Alfred - the ones making a when Baha Mar will restart construction statement?
Could it be that Baha Mar is NO longer a PRIVATE resorts project?
Have they now taken on the role of acting as the two most senior official spokespersons for Baha Mar?
PM, if as reported by The Tribune that onsite assessments were conducted and completed as to what would be required to proceed with completion construction of Baha Mar - along with what defects the inspectors discovered - will the PM, now order that assessment report be released to the media?
Is the PM now prepared to release ALL details on any and all "restart" concessions the people's government have committed to Baha Mar - in the name of taxpayers?
If not, why not?
Posted 3 November 2015, 8:51 p.m. Suggest removal
TruePeople says...
it would incriminate him and his A-team to say the least
Posted 4 November 2015, 10:11 a.m. Suggest removal
Wideawake says...
This ain't over!!! ....... Waiting for Izzie's next move......he has told the World who he thinks is to blame for the Baha Mar fiasco!!!!!....Bahamas Government and CCA, and perhaps particular persons in our government. Even someone as rich as he is, doesn't walk away from $800million.
Waiting for the lawsuits to start which could tie up the Baha Mar development for years, certainly until after the next General Election. This would ensure the PLP loses, even with the FNM's lackluster leader.
Perhaps Izzie hopes that with legal victories against CCA, and who knows who else, under his belt, he would, with the help of a NEW government, be able to re-claim his project??????
Perhaps, once lawsuits are filed and everything comes to a screeching halt, he can persuade the EXIM BANK to dump CCA and allow him to strike a new deal with the bank????? Hmmmm!!
Posted 3 November 2015, 9:21 p.m. Suggest removal
greenflag says...
On January 29, 2009, Germano saw a news report about Chinese drywall, and the pieces started to fall into place. Experts had begun to realize the walls were releasing hydrogen sulfide and other sulfur compounds, especially when humidity rose.
Hydrogen sulfide, known as "sewer gas," is colorless, flammable, poisonous and pungent. It smells like rotten eggs or burned matches, but after exposure over time, it can become difficult to detect the odor.
The highly corrosive gas is produced by the breakdown of organic materials, and it pools in low-lying areas because it's heavier than air. It can turn copper wires black and render them useless - even if they're protected by plastic coating. It fries essentially anything that runs on electricity.
Good luck with that.
Posted 4 November 2015, 6:43 a.m. Suggest removal
TruePeople says...
look the Chinese bad up and oppress they own people.... what dese fools thing they want for the rest of us?
i would venture to say that they DON'T want peace a love
Posted 4 November 2015, 10:13 a.m. Suggest removal
islandlad says...
The naivety in regards to the official commentary on construction staring back up and the very resources and process to open/run a hotel…..nay a mega resort, boggle the mind. Some have mentioned that nobody has addressed and/or asked for the results from the CCA audit on the project to see what it would take to complete. A big deal was made when everybody was singing positive choir that they were back on the site and would take 10 days to complete….indeed, what are the results? Further, IF they start back in 2 months, there is NO WAY they will be open by May…what is this man thinking??? I’ve said this before, finishing the construction and opening are two completely different things. All the Brands and Expat will have left….you get a new investor to open under different brands, ok…..you needs business on the books, pre-booked reservations, conventions, groups and individual guest (Which means your reservations systems need to be open now and a sales team selling). IF by the grace of God they can open in May, it will be with 10 people checking in. Oh, what about all the independent Restaurant and retail vendors that originally signed on, the beach front operators etc, they have all gone away and owe money for the loans they took out to pay Baha Mar upfront…..one assumes they will all just jump back on board? This will be a joke if anybody thinks that this resort can open with any credibility and resources any sooner than 2017.
Posted 4 November 2015, 5:13 p.m. Suggest removal
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