Pardon me ma'am, your ignorance is showing. The local creditors were contracted and being paid by the Chinese CCA. They have nothing to do with Delaware. They must join Izmirlian and sue CCA to get their monies. The Chinese are the ones not paying the bills, while overcharging Baha Mar. The contractor for services were not hired by the Delaware company.
So, if the top company is the debtor in possession, then the liquidators have to give all the assets of the lower Bahamian companies to the Delaware company? As debtor in possession, it would have the first claim to all of the Bahamian companies.
What is wrong with this picture? Is the government legally brain dead? Can a lawyer please explain? A real lawyer?
The demographic that buys Bahamian property is not seeking value. They are seeking tax shelter. Spending half million on a Balmoral or Cable Beach condo is better than paying 3 or 4 million in income tax. The benefit is a short flight from the US and a facile infrastructure where money talks.
Nice story Ortland, except that your ability to twist the facts is self evident here. May I educate you to the fact that the albatross is not extinct. https://en.wikipedia.org/wiki/Albatross
Your support of the PLP is just as flawed as your albatross extinction story. You would do a lot better to further your income possibilities by undertaking them yourself rather than rely on those old chestnuts of cronyism and corruption to secure your future.
The Reciprocal Enforcement of Judgement Act is Bahamian Law, and that is why the Chapter 11 in Delaware had such shock and awe among the ruling kleptocrats. The judge would have to break Bahamian law to rule in favor of the government and the Chinese. In that case an appeal to the Privy Council would reverse any untoward ruling by the Bahamian courts and enforce the Delaware ruling, negating any possible further moves that could be tried by the duplicitous, corrupt Attorney General. It won't be pleasant, as they will try to drag it out as long as possible to try to starve Izmirlian out, but ultimately failing. The real losers will be the employees and the Bahamas, who is already on the losing side of the ledger.
This appeal to the Privy Council would prevent the AG from being able to repossess the land (as Izmirlian is the debtor in possession). This is by no means, a slam dunk for the Izmirlians, and the road is a tough one, with the government flailing about and using its illegal influence over the judiciary.
The most amazing thing is how certain segments of Bahamian society who were hypercritical of the Christie government are now lionizing them and the Chinese. The PLPites will twist and bend the truth, the sovereignty of the nation and their own personal self-respect to try and gold-plate the turds of turmoil that Christie & Co have created. The government is just a fifth wheel here, adding no value proposition to the saga, and they should just step away, and let the business people and the real courts solve it one way or the other. This is just a business venture gone sour, but because the current government pinned their pride and hopes on it, they have imbued it with a cognitive load that doesn't really exist.
You can bet that this case is receiving a lot of attention from the US State Department.
What is hilarious (in a sad sort of way) is that the PLP government doesn't understand the cultural values of the Chinese. As a previous poster pointed out, it was so wrong to send the AG over. I am no fan of Fweddie, but if he wasn't such damaged goods in the eyes the Chinese, he would have been the best player on the PLP team to do this. The Chinese only understand people who have a superior attitude and no respect for them, and Fweddie fills the bill. And race does play a role. The best Bahamian for the job of getting an agreement would have been Brent -- Mr. Salt. He has the most respect among the Chinese (mainly because of skin colour -- the Chinese are racists towards Blacks).
So we dig in for a long and sordid story and dragging the Bahamas through the mud, unless the government has a road-to-Damascus moment and sees the light and lets go.
banker says...
Or paid shills for the PLP, or corrupt ones on the PLP gravy train stealing and have stolen from the Bahamian people.
On PM hits back at Baha Mar 'untruths'
Posted 17 July 2015, 11:02 p.m. Suggest removal
banker says...
It is the CCA that owes the small Bahamian businesses. They contracted them, and they are equity partners. Nice twisting of facts here.
On PM hits back at Baha Mar 'untruths'
Posted 17 July 2015, 11:01 p.m. Suggest removal
banker says...
Supreme Court of Common Sense. Member since birth. I didn't see your name on the membership rolls.
On BREAKING NEWS: BAHA MAR STATEMENT ON PRIME MINISTER'S DECISION
Posted 17 July 2015, 3:09 p.m. Suggest removal
banker says...
Pardon me ma'am, your ignorance is showing. The local creditors were contracted and being paid by the Chinese CCA. They have nothing to do with Delaware. They must join Izmirlian and sue CCA to get their monies. The Chinese are the ones not paying the bills, while overcharging Baha Mar. The contractor for services were not hired by the Delaware company.
On BREAKING NEWS: BAHA MAR STATEMENT ON PRIME MINISTER'S DECISION
Posted 17 July 2015, 2:39 p.m. Suggest removal
banker says...
With Christie's help, the unemployment will rise from 31 percent to 99 percent. The other one percent will be the armed guards at the web shops.
On PM talks of ‘many challenges’ that he is facing
Posted 17 July 2015, 1:18 p.m. Suggest removal
banker says...
Could it be that the AG doesn't know the law and doesn't have standing ground?
On Baha Mar accuses Christie of 'misleading' nation and jeopardising resort
Posted 17 July 2015, 1:15 p.m. Suggest removal
banker says...
So, if the top company is the debtor in possession, then the liquidators have to give all the assets of the lower Bahamian companies to the Delaware company? As debtor in possession, it would have the first claim to all of the Bahamian companies.
What is wrong with this picture? Is the government legally brain dead? Can a lawyer please explain? A real lawyer?
On Baha Mar: government calls in liquidators
Posted 17 July 2015, 11:34 a.m. Suggest removal
banker says...
The demographic that buys Bahamian property is not seeking value. They are seeking tax shelter. Spending half million on a Balmoral or Cable Beach condo is better than paying 3 or 4 million in income tax. The benefit is a short flight from the US and a facile infrastructure where money talks.
On BROKEN DOWN: Govt team flies home as Baha Mar talks stall
Posted 16 July 2015, 8:44 p.m. Suggest removal
banker says...
Nice story Ortland, except that your ability to twist the facts is self evident here. May I educate you to the fact that the albatross is not extinct. https://en.wikipedia.org/wiki/Albatross
Your support of the PLP is just as flawed as your albatross extinction story. You would do a lot better to further your income possibilities by undertaking them yourself rather than rely on those old chestnuts of cronyism and corruption to secure your future.
Your motives are just as visible as the jewels of the emperor with no clothes. https://en.wikipedia.org/wiki/The_Emper…
On Way of the Albatross
Posted 16 July 2015, 5:12 p.m. Suggest removal
banker says...
The Reciprocal Enforcement of Judgement Act is Bahamian Law, and that is why the Chapter 11 in Delaware had such shock and awe among the ruling kleptocrats. The judge would have to break Bahamian law to rule in favor of the government and the Chinese. In that case an appeal to the Privy Council would reverse any untoward ruling by the Bahamian courts and enforce the Delaware ruling, negating any possible further moves that could be tried by the duplicitous, corrupt Attorney General. It won't be pleasant, as they will try to drag it out as long as possible to try to starve Izmirlian out, but ultimately failing. The real losers will be the employees and the Bahamas, who is already on the losing side of the ledger.
This appeal to the Privy Council would prevent the AG from being able to repossess the land (as Izmirlian is the debtor in possession). This is by no means, a slam dunk for the Izmirlians, and the road is a tough one, with the government flailing about and using its illegal influence over the judiciary.
The most amazing thing is how certain segments of Bahamian society who were hypercritical of the Christie government are now lionizing them and the Chinese. The PLPites will twist and bend the truth, the sovereignty of the nation and their own personal self-respect to try and gold-plate the turds of turmoil that Christie & Co have created. The government is just a fifth wheel here, adding no value proposition to the saga, and they should just step away, and let the business people and the real courts solve it one way or the other. This is just a business venture gone sour, but because the current government pinned their pride and hopes on it, they have imbued it with a cognitive load that doesn't really exist.
You can bet that this case is receiving a lot of attention from the US State Department.
What is hilarious (in a sad sort of way) is that the PLP government doesn't understand the cultural values of the Chinese. As a previous poster pointed out, it was so wrong to send the AG over. I am no fan of Fweddie, but if he wasn't such damaged goods in the eyes the Chinese, he would have been the best player on the PLP team to do this. The Chinese only understand people who have a superior attitude and no respect for them, and Fweddie fills the bill. And race does play a role. The best Bahamian for the job of getting an agreement would have been Brent -- Mr. Salt. He has the most respect among the Chinese (mainly because of skin colour -- the Chinese are racists towards Blacks).
So we dig in for a long and sordid story and dragging the Bahamas through the mud, unless the government has a road-to-Damascus moment and sees the light and lets go.
On Court ‘hard pressed’ to resist Baha Mar’s Chapter 11 demand
Posted 16 July 2015, 4:59 p.m. Suggest removal