The government should not continue ignoring Mr. Izmirlian. He is the one with the most incentive and the only one that may be able to deliver the property at it's best value to the EXIM bank as lienholder and potentially saving at least some of his investment. Otherwise, the property may very well sit vacate in spite of the expectation that China EXIM bank will pour more money into the project after completion of the virtually completed convention center. Let's hope that Mr. Christie can set aside his view of the situation and be open to making a good faith effort on the behalf of the Bahamian people to really assist with the situation.
Meetings are nice but what is being accomplished? Optimism is nice but what is the basis for it? He's talking but is anyone really listening? Assurances from someone who has no power to do effect the situation means nothing. The Chinese are in the driver's seat and nothing will happen until they decide what to do in their own best interests; not the interests of the Bahamian people which remains secondary at best.
An unfortunate situation especially for the Bahamian populace. In retrospect, it does seem like the developer should have attempted mediation with the contractor sooner. Then the government should have stayed out of the way and let the Chapter 11 go through. Maybe the Chinese companies would have been successful in having the U.S. bankruptcy dismissed but then again maybe not. And, if the Chapter 11 would have been allowed to proceed, it would have been a vastly better outcome for the creditors including the Bahamian contractors. The PM is not doing the country any favors at this point. Bran's recent comments on the present situation are right on.
So now it looks like the legal wrangling will definitely delay the project from opening this winter marking the second missed prime winter season for the resort. I wonder if the hotel partners will be hanging in there for long? Maybe the government should think about dismissing the liquidation action clearing the way for the U.S. Chapter 11 to proceed. Oh, what am I thinking? Too many egos are involved now and sides have been taken. The government's neutral role long abandoned. Something tells me that the parties and the government won't be coming to their senses soon and, as a result, irreperable damage to the stakeholders down stream from the big players, most of all the Bahamian people, will be the order of the day.
atyrs1 says...
CONCUR!
On Seeking to rewrite history
Posted 22 November 2017, 11:32 a.m. Suggest removal
atyrs1 says...
CONCUR!
On EDITORIAL: What is the update on Baha Mar’s casino licence?
Posted 27 October 2017, 1:44 p.m. Suggest removal
atyrs1 says...
CONCUR!
On Baha Mar revisited
Posted 19 October 2017, 12:12 p.m. Suggest removal
atyrs1 says...
The government should not continue ignoring Mr. Izmirlian. He is the one with the most incentive and the only one that may be able to deliver the property at it's best value to the EXIM bank as lienholder and potentially saving at least some of his investment. Otherwise, the property may very well sit vacate in spite of the expectation that China EXIM bank will pour more money into the project after completion of the virtually completed convention center. Let's hope that Mr. Christie can set aside his view of the situation and be open to making a good faith effort on the behalf of the Bahamian people to really assist with the situation.
On Izmirlian seeks Baha Mar talks
Posted 1 February 2016, 8:52 p.m. Suggest removal
atyrs1 says...
Meetings are nice but what is being accomplished? Optimism is nice but what is the basis for it? He's talking but is anyone really listening? Assurances from someone who has no power to do effect the situation means nothing. The Chinese are in the driver's seat and nothing will happen until they decide what to do in their own best interests; not the interests of the Bahamian people which remains secondary at best.
On PM: You’ll cheer with me when Baha Mar opens
Posted 28 January 2016, 2:40 p.m. Suggest removal
atyrs1 says...
**DITTO**
On Bank speaks out over Baha Mar
Posted 18 December 2015, 2:13 p.m. Suggest removal
atyrs1 says...
An unfortunate situation especially for the Bahamian populace. In retrospect, it does seem like the developer should have attempted mediation with the contractor sooner. Then the government should have stayed out of the way and let the Chapter 11 go through. Maybe the Chinese companies would have been successful in having the U.S. bankruptcy dismissed but then again maybe not. And, if the Chapter 11 would have been allowed to proceed, it would have been a vastly better outcome for the creditors including the Bahamian contractors. The PM is not doing the country any favors at this point. Bran's recent comments on the present situation are right on.
On Baha Mar winding up petition stayed until February
Posted 25 November 2015, 12:37 p.m. Suggest removal
atyrs1 says...
So now it looks like the legal wrangling will definitely delay the project from opening this winter marking the second missed prime winter season for the resort. I wonder if the hotel partners will be hanging in there for long? Maybe the government should think about dismissing the liquidation action clearing the way for the U.S. Chapter 11 to proceed. Oh, what am I thinking? Too many egos are involved now and sides have been taken. The government's neutral role long abandoned. Something tells me that the parties and the government won't be coming to their senses soon and, as a result, irreperable damage to the stakeholders down stream from the big players, most of all the Bahamian people, will be the order of the day.
On BREAKING NEWS: Baha Mar given leave to appeal Bahamian bankruptcy ruling
Posted 5 August 2015, 12:25 p.m. Suggest removal