Insolvent means unable to pay bills. And Baha Mar has been insolvent since February, when it stopped paying China Construction and many other vendors. It also has about $1 billion in total debts -- after having spent the China ExImBank $$$. The question that should be resolved before anything else happens is where did all the money go? since so many people got burned -- Hyatt, SLS, Rosewood, Jack Nicklaus, the pga, espa Spa, etc. That long list of creditors took months to accumulate... that's insolvency.

Sandy Sands will go down as the biggest liar and buffoon in the history of the hotel industry. In large part, it has been his constant and ongoing deceit of the media, both in the Bahamas and the U.S., that has gotten Baha Mar into the position it now is -- no one believes anything it says anymore. And Mr. Sands and VP of Communication Alyssa Bushey (an American expat hired in February) and her Miami PR firm, RockOrange, can claim all of the credit for that. I hope Ms. Bushey is promptly fired and deported after the Supreme Court ruling this morning.

His "team" has misled the Bahamian government, ExIm Bank of China, China Construction, the three hotel brands, the U.S. and world media... to me that is "everyone." I can't think of anyone else that matters, except Izzy's father, who might be about to see the fortune he amassed go down the drain.

Really? So all the money vanishes and it turns out NO ONE has been paid in full, even the government for business licenses or gaming fees. And you're OK with that? The list of creditors in stunning in length and number. I believe that there is financial malfesance involved. I guess time will tell.

My posts about Donald Trump are a JOKE and done for the amusement of my Facebook friends. That has nothing to do with my serious posts about Baha Mar. I have predicted ever since my Hotel News Now scoop in the U.S. that the March 27 opening was a scam that Izmirlian would be ousted. He has no support left anywhere that I can see... and he brought the ending on himself with very bad decision making, the worst of which was publicly embarrassing China, which is the ultimate no-no in terms of culture. They are just playing with him now until the end comes, which appears to be coming soon.

No one believes Izmirlian anymore and that is his real problem. He has alienated the Bahamian government, China State Construction and ExIm Bank of China. Now he will pay dearly for those mistakes, both literally and figuratively. Baha Mar has never been honest with anyone about anything. It has been a game of lies and deceit all along. And Izmirlian must be held fully accountable, along with his incompetent "management team." The government should order a forensic audit of the books as a starting point to figure out what went wrong and where the money went.

This pathetic and simplistic, superficial explanation from "Sandy" Sands illustrates why he has become a laughing stock -- a joke -- to journalists in the Bahamas and the U.S. The two key facts he leaves out are: 1) The Chapter 11 process is based on the evidence showing that a company or venture is VIABLE going forward, based on the facts, and 2) If the entity is NOT deemed to be viable (lacking funding, being too far gone in terms of debt, etc.), then indeed liquidation of assets by the court, with that money being distributed among creditors, is the remedy. If the negotiations this week in China were not successful, then the hearings July 20 in the Bahamas and U.S. will begin the end of Baha Mar. The project has been bungled by Sarkis Izmirlian from ther start and the gross incompetence of his "management team" has likely doomed it. And no one deserves to be out of work and disgraced more than the BS artist "Sandy" Sands.

The last time Christie said he had "good news from China," Baha Mar declared bankruptcy shortly thereafter. With "leaders" like him I finally understand why so-called Third World countries face the harsh realities they do, especially economically. IF Baha Mar crashes and burns now as a result of failed talks in China -- the likely outcome based on all available evidence -- Christie should be run out of the country along with Izmirlian and his incompetent expat "management team."

So in other words the same incompetent morons -- led by Tom Dunlap -- who ran the project into the ground and landed it in insolvency and bankruptcy are the ones deemed essential to saving it? Izmirlian will go down as the biggest joke in the history of the hotel industry. He is totally clueless. And all of this is moot anyway. China is right now in the process of eating Izzy alive -- on their home turf. It's unlikely "Baha Mar" will exist much longer. Next Monday's court proceedings in the U.S. and Bahamas will be the final chapter of this sad saga.

It has become obvious that the Prime Minister is an incompetent buffoon, so since the Baha Mar saga is on the verge of becoming a tragicomedy, he might be perfect to lead the talks -- if total disaster is the goal. Its is very, very sad to see the gross incomptence and deceit of the Izmirlian "management team" (all of whom should be deported as soon as possible) combined with the cluelessness and delusion of the government. The real losers are the Bahamian people and especially those workers who took jobs at BM in good faith, only to end up on the creditors list in the bankruptcy filing.