How much longer is the government willing and able to pay Bah Mar staff ? Will they eventually have to be terminated?

How can the Supreme Court be independent in this matter when the attorney general, herself, has interest in Bah Mar? As do other members of the Bahamas government, either directly or indirectly. The government should be the first to want this matter to go to a neutral jurisdiction so that it doesn't appear that Izmirilin came to the Bahamas and even lost the shirt off his back. Did the Christie government try to ascertain why the project had run months behind schedule? Did they try to confirm that there was, indeed, shoddy or defective work that has to be corrected at considerable expense? Who is really responsible for Bah Mar opening on at least two occasions? Did Bah Mar not, in good faith and anticipation, hire staff, train them and engage them expecting that the property will open? Did the Christie led government decide that it no longer wants Izmirilin as part of the Bah Mar team and, rather remaining neutral and reaching out to all sides, is now siding with China Exim bank and trying to force Izmirilin out. If Izmirilin is forced out of Bah Mar will he also eventually be forced out of the Bahamas? While the government claims its actions are a pure attempt to get Bah Mar open at its earliest possible date, doesn't the stance it has taken further complicate the matter, create more hostility and will lead to further legal wranglings that can further delay the opening of the resort? Do you feel that Izmirilin is justified in not wanting to remove the bankruptcy protection off Bah Mar in light of what is going on and until such time as he gets clarity on his future role in Bah Mar and confirmation that all other parties, including the Christie led government, are acting in good faith?

When you take a contractor to court for poor or shoddy work or failing to complete work for which he was paid, the question almost always arises: "why did you continue to give him more money when he was not completing the work or not doing it in a satisfactory standard."

now look here: seems like the trip to China was only an effort to strong arm Izmirilin into signing an agreement for an additional $600 million loan and agreeing for China Construction Company to get paid for work it has to correct or should have completed since last year. Furthermore they want Izmirilin to withdraw his lawsuits charging corruption and sabotage and in addition they want him to take Bah Mar out of bankruptcy protection. and so what was the chinese giving up as part of the Agreement? Absolutely nothing! So they wanted BAH MAR to strip naked and throw itself to the sharks so they can finish feeding on it. and what does our government do? Tell BAH MAR "if you don't hurry up and throw yourself to the Sharks we will do it for you!" This gives Bah Mar all the more reason for Bah Mar to take its case to Delaware and elsewhere. The Bahamian government has made a hostile but solvable situation more hostile.

And even if Izmirilin is forced out in the liquidation procedures he will still be allowed to proceed in his lawsuits against China bank and The China construction Company citing sabotage and collusion . If the outcome favors Izmirilin and the assets (Bah Mar) has been disposed of, the damages can be significant. If, on the other hand, Izmirilin loses the lawsuits or fails to persue them, then Bah Mar can move on as a free corporate entity. If Izmirilin feels that construction at Bah Mar had been intentionally slowed down and/or otherwise sabotaged by one or both of the other parties involved, then asking him to sign an agreement to correct or complete these works (with the same two parties) is like asking him to compromise his legal position.

The question now is what takes precedence: the chapter 11 bankruptcy protection filed in Delaware or the winding up order filed in the Supreme Court here. This is a tricky situation and international law will most likely apply. Of course Izmirilin will request a change of venue citing conflict of interest as the Bahamian government is now party to the winding up petition despite having no equity stake in Bah Mar. This could be long.

If there is no real growth in the economy the vat will continue to canabalise the money supply. As consumer activity dwindles more are more businesses will be forced to close. Government will also see a decrease in its revenue. Businesses who thought they could absorb the VAT and not increase their prices are finding out the hard way that they were wrong because the costs associated with VAT is more than the 7.5 percent collected. It may not all be doom and gloom but in the interim the challenge on small and medium businesses will be great to stay open.

Signs that the economy has slowed : RBC/Finco has announced that it has suspended the payment of dividends to shareholders this quarter. Does this mean the situation at BoB will get even worse?

The clowns couldn't keep a $9 million project within its budget (they exceeded it by over 30 percent. Yet they want you to believe they can measure its impact on the GDP.

If you follow Paul Major's economics that a $12 million couple days event contributed $50 million to the GDP. Then Bah Mar's construction investment of $3.2 billion should contribute more than $1.8 trillion (yes trillion) to the GDP. Now can you see how ridiculous these clowns are.