My guess is they didn't even foresee him letting it get to court - so now they don't know what to do or what they want to happen. The Government's lawyers even said in court today that they don't want to wind it up, they just want the court to appoint a provisional liquidator. What the hell does that mean.
So Christie is basically admitting that the winding up order was filed as a negotiation tactic to force Sarkis to accept the Chinese demands. So much for being an impartial mediator.
When you liquidate a business and sell the assets, you render all existing contracts void. All of the currently signed up hotel operators will need to renegotiate terms from scratch with Baha Mar's new owners. So even if the property is completed, there will be no one operating it - unless the Chinese decide to operate all of the hotels and casino themselves.
And which US companies are going to make major commitments to the Bahamas after the way Sarkis has been treated by the Government.
I agree with with you TruePeople - the Bahamas is the best destination in terms of proximity and infrastructure, but people are only willing to pay so much for the best. I fear with VAT, 40% minimum wage and Cuba opened, we have gone past the threshold where Bahamas is worth the premium.
Good old PLP doing everything they can to make the Bahamas as uncompetitive as possible.
They honestly seem to think that tourists don't have other options. They may not be quite as good, but if they cost half the price, where are people going to go on vacation?
It would not be an issue if he and his ministers were silent the whole time everything was going as planned as well as after bankruptcy, leaving left it as a private matter between private parties. The Government has gotten involved, prevented $70m debtor in possession being approved and filed a winding up order as an unsecured creditor. These are public matters and therefore require full explanation - and we don't even get a comment.
"The Bahamas government shares the same interest as many other creditors."
While this may be true, other creditors have not had the personal guarantee of the Prime Mister of Bahamas that they will impartial mediators in the dispute.
The Government can declare itself as either a creditor or a impartial mediator. It cannot be both.
"the attorney general brushed off those worries, saying she would never do anything to compromise the confidence Mr Christie and the Bahamian people have placed in her."
So she is directly saying that in her case, we should just trust her to do the right thing. You heard it from the AG - if anyone ever gives you a hard time about a conflict of interest, just say "it won't affect me" and you will be fine!
In all seriousness, her husband and daughters both have a commercial interest in Baha Mar. This is a direct conflict. End of story.
Bahamian_in_London says...
My guess is they didn't even foresee him letting it get to court - so now they don't know what to do or what they want to happen. The Government's lawyers even said in court today that they don't want to wind it up, they just want the court to appoint a provisional liquidator. What the hell does that mean.
On PM hoped Sarkis would ‘not allow resort to go’
Posted 19 August 2015, 11:56 p.m. Suggest removal
Bahamian_in_London says...
So Christie is basically admitting that the winding up order was filed as a negotiation tactic to force Sarkis to accept the Chinese demands. So much for being an impartial mediator.
On PM hoped Sarkis would ‘not allow resort to go’
Posted 19 August 2015, 6:58 p.m. Suggest removal
Bahamian_in_London says...
These people are so unbelievably naive.
When you liquidate a business and sell the assets, you render all existing contracts void. All of the currently signed up hotel operators will need to renegotiate terms from scratch with Baha Mar's new owners. So even if the property is completed, there will be no one operating it - unless the Chinese decide to operate all of the hotels and casino themselves.
And which US companies are going to make major commitments to the Bahamas after the way Sarkis has been treated by the Government.
On Roberts: Baha Mar resort will still open before end of year
Posted 19 August 2015, 11:33 a.m. Suggest removal
Bahamian_in_London says...
I agree with with you TruePeople - the Bahamas is the best destination in terms of proximity and infrastructure, but people are only willing to pay so much for the best. I fear with VAT, 40% minimum wage and Cuba opened, we have gone past the threshold where Bahamas is worth the premium.
On Atlantis job fear over wage rise
Posted 17 August 2015, 6:52 p.m. Suggest removal
Bahamian_in_London says...
It is going to be harder and harder for the Government to maintain their unquestioned support of CCA.
If they were smart, they would pressure China ExIm to accept the $200m offer from Sarkis to drop CCA and hire Bahamians to finish the project.
It is clear that any other alternative will be stuck in the courts for years, while the shell of Baha Mar decays.
On ‘You can’t fake things in such an obvious way’ says CCA email
Posted 17 August 2015, 6:49 p.m. Suggest removal
Bahamian_in_London says...
Good old PLP doing everything they can to make the Bahamas as uncompetitive as possible.
They honestly seem to think that tourists don't have other options. They may not be quite as good, but if they cost half the price, where are people going to go on vacation?
On Atlantis job fear over wage rise
Posted 17 August 2015, 1:24 p.m. Suggest removal
Bahamian_in_London says...
It would not be an issue if he and his ministers were silent the whole time everything was going as planned as well as after bankruptcy, leaving left it as a private matter between private parties. The Government has gotten involved, prevented $70m debtor in possession being approved and filed a winding up order as an unsecured creditor. These are public matters and therefore require full explanation - and we don't even get a comment.
On PM refuses to respond to questions on Baha Mar
Posted 14 August 2015, 11:11 a.m. Suggest removal
Bahamian_in_London says...
Happy to comment on Sarkis' mental health, but not willing to speak on:
- AG conflicts of interest
- Sir Balton's secret email to the Chinese
- Sakis' offer to put in $200m if CCA is fired and Bahamian contractors are used.
- The Foreign Minister speaking in an official capacity threatening to deport Sakis.
- The Labour minister suggesting all foreign investors will have to take psychological evaluations.
Thanks Chistie, how fortunate we are to have to as our leader. Truly a man worthy of respect.
On PM refuses to respond to questions on Baha Mar
Posted 14 August 2015, 10:16 a.m. Suggest removal
Bahamian_in_London says...
"The Bahamas government shares the same interest as many other creditors."
While this may be true, other creditors have not had the personal guarantee of the Prime Mister of Bahamas that they will impartial mediators in the dispute.
The Government can declare itself as either a creditor or a impartial mediator. It cannot be both.
On Govt ‘not conspiring with’ Chinese company and bank
Posted 11 August 2015, 12:53 p.m. Suggest removal
Bahamian_in_London says...
"the attorney general brushed off those worries, saying she would never do anything to compromise the confidence Mr Christie and the Bahamian people have placed in her."
So she is directly saying that in her case, we should just trust her to do the right thing. You heard it from the AG - if anyone ever gives you a hard time about a conflict of interest, just say "it won't affect me" and you will be fine!
In all seriousness, her husband and daughters both have a commercial interest in Baha Mar. This is a direct conflict. End of story.
On AG’s husband has Baha Mar leases
Posted 11 August 2015, 12:49 p.m. Suggest removal