The Tribune

By LAMECH JOHNSON

Tribune Staff Reporter

ljohnson@tribunemedia.net

A NEW date has been set for the continuation of a hearing into the government’s winding up petition against the stalled Baha Mar resort, according to attorney Wayne Munroe.

Mr Munroe, QC, confirmed to reporters that the expected November 2 hearing for the government’s winding up petition was delayed by three weeks to November 25.

Yesterday, he also candidly suggested to the resort’s developer Sarkis Izmirlian that he “put up or shut up” if he is serious about getting the resort completed.

“(There was an appearance) before Justice Winder this morning, where there was an application to amend the petitions to add petitioners to all of the petitions except the Gaming Board’s petition, which was already amended, pursuant to his order,” Mr Munroe said yesterday.

He said at least seven days were needed to advertise the amendments before the hearing.

“Leave was granted to amend, and leave was granted to extend the time for advertisements and a new hearing date was set for November 25,” said Mr Munroe, who represents the Gaming Board in the matter.

Mr Munroe noted that with the additional time for negotiations, “It’s in everyone’s interest that it happens as soon as possible.”

“As I’ve said, if I were the government, I would tell you every month it doesn’t open, count on losing X amount of dollars of concessions. And it’s in everybody’s interest that it happens as soon as possible and I hope and pray anyway that everyone who claims to be earnestly working for it to be open as early as possible is actually being honest when they say that, because Bahamian people can only take so much.”

Justice Ian Winder granted approval in the Supreme Court last Thursday to Baha Mar’s court appointed joint provisional liquidators’ request to make more than 2,000 workers redundant.

The joint provisional liquidators, Bahamas-based KRyS Global and UK-based AlixPartners, said the layoffs were due to the financial insolvency of the $3.5 billion resort project that has been stalled since June 29.

The layoffs have sparked severe criticism from the FNM and Democratic National Alliance and debate in the public domain on whether the government or the resort’s developer were ultimately responsible for the current roadblock.

On Thursday, Mr Izmirlian said the layoffs may have been an opportunity to ponder the validity of decisions made to oppose the resort’s Chapter 11 bankruptcy filing in a United States court and to push forward with the appointment of provisional liquidators, “setting Baha Mar on its current path.”

“Whilst there is still ongoing conversations with all parties aimed at finding a solution to be able to finish and open Baha Mar, it is very difficult to predict where these will lead us,” the resort CEO said last week.

Mr Munroe, yesterday, made a challenge to Mr Izmirlian.

“It’s about time that we stop being nice on this Baha Mar thing,” Mr Munroe said.

“We have a fellow walking around as the developer who tells people that he loves them. And we’re told he has a big pile of money and this is his Baha Mar nation and he’s bringing none of it to finish it. And we’re entertaining him.

“If you’re broke, Bahamian people tell you carry your.... and that’s it. So if you’re broke, carry your...if you’re not broke, stop joking and do what is necessary to complete the project.”

He added: “Every year, hundreds of Bahamians get put out of their homes because they can’t pay the bank back, why would we think we would treat somebody differently ‘cause he happens to have some money and he happens to borrow $3 billion?”

“Bahamian people can identify with the fact that when you borrow money from the bank you got to pay them back. And if you don’t pay them back, then there are certain consequences.

“Why are we so concerned about foreign rich people and we don’t seem to express the same concern about our own people? Yes he’s a businessman having problems. What about $80 million owed to Bahamian subcontractors who are now having problems? How come nobody is marching for the bank not to mess with them?”