Ah, the ignorance of youth. Soon your eyes will be open to what really went down, a back room deal between our elected officials and the Chinese government.

I just hope you can maintain your enthusiasm as you grow older.

Well Franklyn, I feel for your loss. I think with what Christie pulled last night you are truly out of all the money you were owed.

The information you submitted regarding the case in Delaware is to pay critical supplier during the Chapter 11 proceeding, it does not mean that those are the only people who can now claim a debt against them. You would have just had to wait till they exited on the other side. Now there is no exit, and the money you are owed is about as good as gone.

I very much hope I am wrong and you get paid though. It's certainly not fair for the people who actually built the place to be the ones who are left holding the bag.

No doubt Tal, the project was mismanaged by Izmirlian, but that will be nothing compared to how mismanaged it's about to get.

Oh, thank god the government is taking over. With such an outstanding track record (BEC, Bahamas Air, Hotels Corporation, BAMSI, paying down the national debt, balancing budgets, web shops, crime) we're sure to have this project done in no time. And I'm sure that it won't cost the taxpayers any money at all, since the government is great a running businesses and the amount required to finish the project it seems is only about 65% of our government budget. And this will for sure keep any sort of funny payments and corruption from happening. It's just so comforting knowing that we have so many people in the government with enough knowledge and expertise to take a $3.5B company through liquidation.

Really though, I think the one thing worse than the Chinese Bank taking control of the project is our own government doing so.

The Chinese Bank would be foreclosing on Baha Mar right now if the Chapter 11 hadn't been filed. Do you really think that the Chinese Bank would be paying you a cent? Your best bet for getting paid your money is with Baha Mar coming out the other side of Chapter 11.

Entering Chapter 11 does not mean that they no longer owe any money. It just means that the debtors can't ask for the money right now. They just have to wait till it exits from Chapter 11, and then they can ask for their money.

Your first reaction is to question my origin but not the quality of my argument. You are proving my point.

That is not at all true. Baha Mar has a lot of options to obtain more financing, from taking on new equity partners, to having someone else buy the debt held by the Chinese Bank. This is precisely why Chapter 11 exists, to investigate those options.

The other option was to let Baha Mar be foreclosed on here in the Bahamas, allowing the Chinese Bank to take control and they would not be required to pay anyone a dime if the liquidated the property for less than what is owing to them. Meaning there is not a chance in hell that any Bahamian creditor would ever get paid anything.

So according to you, if Baha Mar can't show evidence that it can continue to operate (which it has many options at it's disposal), then it will be liquidated, which is exactly what would happen if they had not done this. So why are you complaining that they are attempting to save the project and pay back the Bahamians that are owed money?

You are entirely right. Even Bahamians who are well qualified for mortgages get taken to the cleaners by lenders.

How does this not benefit the country? Those owners just put $500,000+ into the Bahamian economy. That money is going to pay for the labour of construction companies, the fees for building permits and electrical and plumbing connections, the real property tax, which is higher to foreign owners than Bahamians. They fly down and pay the airport taxes, rent cars and buy groceries when they are here. What does it matter if they stay for one week or the whole year?

Keep pushing down those around you. I guess as long as we all sit in the mud together, then you will be happy.