I respectfully disagree. It seems that both the Chinese as well as the Government (for different reasons) sat on their behinds, while Baha Mar was almost bleeding to death. Obviously the Chinese wanted to pick up the crumbles for jump change, and the Government simply does not have the skilled negotiators/leverage vis a vis the Chinese to get anything going. The bankruptcy filing as well as the law suit have put a lot of pressure on all the parties, incl. the Government to get Baha Mar going, else everybody loses.

Baha Mar will be successful. It is telling that the developer goes out of his way to avoid Bahamian courts (bankruptcy and claims for damages). Still I believe it is smart to totally take the Bahamian government out of the occasion. The current government has clearly eggs in their face siding with the Chinese over the Bahamian interests, it is biased and incapable of cutting a deal with the Chinese as the Government has zero leverage. What most likely will happen is that the Chinese will agree to settle at a discount, ensure to have the project finished and I bet, the developer has a consortium of hedge funds already lined up to take the Chinese's position. If that happens, it will be a good thing for the Bahamas, as we cant really allow a foreign government to control more than 50% of the FDI into the Bahamas. It really does not matter whether you like S.I. or not, the result will be a good one for the Bahamas.

strategically a smart move by the developer. This will take out the Chinese and the Government as "partners" in the discussion and will submit the whole process to an orderly process. I bet the Chinese will try to get out as they don't want to deal with US bankruptcy court. Unfortunately that will leave many of the other unsecured creditors (local contractors) with cents on the dollar, if at all. The bankruptcy filing is not the end, it will actually allow the Developer to finish the project without too much interference from Government.

so what is funny that the persons were able to get an authorized signatory to sign a check to the persons for no reason? I wonder how many more of these checks were issued.
Having this said, now we know what the reason presented for deficit will be: "theft". - well we knew that a long time ago, but now its official. I bet they hang the small ones (which they should) and let the big thieves get away with it (which they should not).

only 20000 was stolen?

where is Shame Gibson with his wisdom, when we need him?

well I respectfully disagree. The lack of enforcement of the laws created the mob. money laundering destroys the regular economy because it is not a level playing field. In Poland the Russian mafia runs production plants for electrical plugs etc., but these business pay nothing or next to nothing for obtaining financing. To launder money, people that own that money are willing to subsidize it (make it cheap) so they can use the money. There is a cost to them to bring illicit funds into the regular economy and they accept that, because not being able to bring the funds into the regular economy makes the funds useless. I don't think the web shop owners are the owners of the money that is and will be laundered, they are just aiding and abetting to launder money. the money that is and will go through the Bahamian webshop business is most likely from Central and Latin America (drugs) or possibly also from Asian betting. If the Mexican and Colombian drug cartels can infiltrate the Venezuelan government for money laundering in a big manner, they certainly can easily control the Bahamian web shop business.

Gold Rush 2.0. No lessons learnt.

Well the monster is unleashed. Mark my words. In most jurisdictions I would not be worried about a threat like that. not in the Bahamas with is corrupt judiciary. First I don't believe this is a random moment to roll out thi threat by the number's boys after Mr. Flowers goes free and the Government caved on executing enforcement of the law on exisiting but non licensed number houses. The banks are the natural opponents of mafia like structures, as the mafia needs the financial system to collaborate in the big scheme of money laundering. If you cant control them, fight them. I am convinced the numbers boys will be able to piss of the commercial banks and further weaken the legitimate portions of our financial industry. And am sure we already know all the lawyers that will prostitute themselves for the cause.

all this combined really describes well what a "mess" is. This is a mess, all this and whatever will be discovered going forward.