Baha Mar Negotiations Resume

 

Government Delegation Returns to China for Resumption of Baha Mar Negotiations

July 24, 2015 (Bahamas Information Services) Nassau, Bahamas

Prime Minister, the Right Honourable Perry G. Christie today announced that a Government Delegation led by Attorney General Allyson Gibson QC will travel to China this weekend for the resumption of negotiations aimed at the early completion and opening of the Baha Mar resort.

The Government’s delegation will join representatives of Baha Mar, China Construction and Exim Bank in Beijing.

“Assuring the prompt resumption, completion and opening of the development is fundamental to protecting our national interest,” said the Prime Minister. “The most effective way to preserve the livelihood of Baha Mar’s workers, protect investors and realize the project’s great economic promise for all The Bahamas is to ensure the completion and opening of Baha Mar as soon as possible.”

Noting that most of the parties would be represented in Bejing by persons with executive authority, the Prime Minister said that it would be helpful to the negotiating process to have Mr. Sarkis Izmiralian present in person as Baha Mar’s chief decision-maker.

“Should the parties reach an agreement, the parties can get back to the completion and opening of the resort without further litigation or other delay.  If no agreement is reached, there will still be the option of a restructuring and re-launch of the project under the authority of a provisional liquidator and the supervision of our Supreme Court, if the court is minded to so order after hearing from all sides” said the Prime Minister. “The preferred solution, however, would obviously be an amicable out-of-court settlement between all the parties”, he concluded.

In addition to the Attorney General, the Government’s delegation comprises of Sir Baltron Bethel, Senior Advisor to the Prime Minister; Commander (ret.) Loren Klein, Consultant to the Office of the Attorney General; Mrs. Shari Moxey, Office of the Attorney General; and Mrs. Kristel Thompson Bethel, Office of the Prime Minister.

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