Chapter 11 Bankruptcy is for restructuring and gives the company some relief from debt obligations during that period. It does not mean that all of it's debts will be unpaid, infact most companies leave chapter 11 with the same principles involves and the debts on the books are paid. This is essentially a pause while they figure out how to move forward.

Many people seem to be thinking this is Chapter 7 bankruptcy, which is a liquidation event and the assets are split up to satisfy the debts. Atlantis went through Chapter 11 only a few years ago and exited just fine.

They filed for Chapter 11, which is a type of bankruptcy used to restructure debts and gives relief of some liabilities during the process. Chapter 11 is intended to be used for a company to be able to exit the other side without have to divest of it's assets. Kerzner International entered Chapter 11 bankruptcy a couple years ago, which led to Brookfield taking over the Atlantis and Ocean Club portion of the company. The company left that bankruptcy in a healthy state. Bankruptcy as most people take it to be is Chapter 7, which results in the divestment of assets to pay creditors.

The people who are most at risk here are unsecured creditors, which may involve many of the Bahamian sub contractors depending on who they had their contracts with, and secured creditors who sit at the bottom end of the creditors list. Some company debt can be wiped out in Chapter 11 although in a lot of cases the principle of the debt remains and just the interest is waived.

This may take a long time to get through the court system, but in the meantime the company can still operate and it gives Bahamar access to different credit facilities to get cash to finish construction.

Chapter 11 indicates that the company will exit bankruptcy in a healthy state, chapter 7 would indicate failure.

The xenophobia in this country is out of control. We're just going to keep shuttering ourselves in while we fall further and further behind the rest of the world.

Another reason that Cayman has been more successful is that they are still a British Territory with a least some oversight of the government. This leads to far lower levels of corruption, better services and more stability. Our government isn't even accountable to it's own citizens.

Well then they should be cracking down on those if that's the problem. How many of those are used by fly fishermen and how many are just people coming down to enjoy Abaco? Now lets consider how many other things those people spend money on: groceries, water, booze, car rentals, taxi's, eating out, ferries, hiring bonefish guides, gas, not to mention the property taxes paid by the foreign owners and the airport taxes that are paid in their airline tickets. So if those people are still the problem then go after them because there are already laws for it. Picking one particular part result of the problem is not an effective way to change this.

This does not protect it. Bone fishing is catch and release. These foreigners who come in and spend money in our country and support local stores and businesses and tell their friends to come are helping to grow the industry. What is actually going to ruin it, is the illegal gill netting done by our own Bahamians. We will kill the bonefish industry ourselves long before foreigners have a chance to do it.

All I keep hearing is these stories of how second home owners are diverting tourism yet I have seen no example of it. If foreigners are illegally operating vacation rentals, they there are already laws to deal with that. The more I see and read, the more I see that these new regulations are going to do far more harm than good.

Those airline tickets have exit taxes that they pay when leaving the Bahamas, they pay for hotels and rent houses, and if they own them they pay real property tax. They buy food when they are here and they rent cars from local renters. They buy gas and drink from the local stations and stores. They tell their friends about the wonderful time they had and the wonderful people they got to know.

Your thinking of is so short sighted and your comment praises the idea of biting off your nose to spite you face.

I wouldn't be to worried about judgement. I think we'll have many disappointed people when they realize there are no Pearly Gates.

You're right, the same people who are so worried that marriage will be corrupted by loving individuals, are the same people who don't care at all that our elected leaders are raping and pillaging this country for their own personal gain.

Don't worry, I'm sure enough other bigots managed to profess their hatred on the poll, just as I am sure many of the people who support the rights of individuals didn't manage to fill it out.