Comment history

Facts says...

Chinese does not understand racial separation; fact is that there is no racial separation in Asia; rise above this race issue. Delaware court has no jurisdiction over Bahamas. Even Puerto Rico US territory can not file for Chapter 11.
If Bahamar is allowed chapter 11 then Bahamian creditor can also go to Privy Counsel and ask for justice. Bahamian companies signed contracts with BML Bahamian entity and should be allowed justice in Bahamas Court; not Delaware.

Facts says...

Sandy let's bring the facts; on one side Izmirlian family says that they believe in success of Bahamar. If they do then why they need Chapter 11 protection to put money in the project; This secure their funds and put them ahead of all secured or unsecured creditors. Bank does not have any interest in foreclosing the business if the business is viable. Ship Captain does not blame the ship mate for sunk ship. Izmirlian and BML management had 3 years to see the problems and fix it. Stop blaming Contractor and Bahamian government. Izmirlian as Bahamar Ship Captain should gracefully accept their failures and step down for betterment of the project. Let CCA and Exim Bank restructure the project and open the doors.
As far as the Bahamar employees; Bahamar their own chapter 11 filing allowed for severance pay; this show Bahamar intent. I think you should communicate this to your employees that regardless of Chapter 11 approval or disapproval by Bahamian court; you intent to let them go. This way at least they can look for another job or make alternative arrangements.

Bahamian creditor might have better chance to get paid by Chinese Bank than Bahamar simply because they want to open the hotel and have the funding to do so; contrary to Izmirlian just want to gamble with some one else money.

On Why Baha Mar filed for bankruptcy

Posted 16 July 2015, 8:51 p.m. Suggest removal

Facts says...

The reason why Bahamian Company has not taken participation in Delaware court because if they do they admit with Delaware Jurisdiction and loose the case to file against Bahamar in Bahamian Court. To all Bahamian Companies; check with your lawyer before you take any part in Delaware Court

Facts says...

The reason why Bahamian Company has not taken participation in Delaware court because if they do they admit with Delaware Jurisdiction and loose the case to file against Bahamar in Bahamian Court. To all Bahamian Companies; check with your lawyer before you take any part in Delaware Court.