SUPREME Court Justice Ian Winder has acceded to the Crown's request to adjourn the government's winding-up petition of Baha Mar until February 1, 2016.
The request was made by Crown lawyer Loren Klein, who said it was due to new developments since the stalled Cable Beach mega resort went into receivership.
Respective creditors and stakeholders in the project - China Export Import Bank, CCA Bahamas and various government agencies part of the proceedings - had no objection to the adjournment.
Full story in tomorrow's Tribune
Comments
JohnBuchanan 9 years ago
The Government is in a real bind now. IF ExIm Bank of China and its advisors cannot find a buyer or new developer/partner, the so-called "liquidation" process will mean nothing and go nowhere, because there will have already been "no deal." And if the Prime Minister keeps making demands that a new partner or the bank guarantee the payment of local contractors and 2,000 old and now redundant 2,000 employees, that could easily kill any deal in the works. It wasn't China that burned all those folks. It was the grossly incompetent and deceitful Izmirlian "management team" Someone needs to explain to the Prime Minister that Baha Mar went belly up, the Izmiliran regime is gone, and old debt is old debt -- not part of any new deal.
Chucky 9 years ago
Hey John, the contractor (CCA) missed two deadlines , their work was also substandard, do you not think that those are the most significant factors in creating the current situation? Another way to ask the question could be, had CCA met the first deadline, and Baha Mar was opened, Baha Mar would have been open now for almost a year; would we be in this position?
JohnBuchanan 9 years ago
There is apparently plenty of blame to go around on both sides. But based on the fact that as a journalist in the U.S., I scooped the whole world with my March 24 story at Hotel News Now that the alleged March 27 opening was a total scam by Izmilirlian and his totally incompetent PR team -- led by the infamous Sandy Sands and the equally incompetent and deceitful Alyssa Bushey from the U.S. -- the obvious question your question raises is : IF all that about CCA were true, WHY did Izzy remain silent until after t5he opening was canceled -- two hours after my story broke. And in the end, the developer is responsible for the performance of the contractor. Izzy simply did not have the experience to pull off Baha Mar. And Daddy's money alone was not enough. But the primary fault for the failure lies with him, not China, based on the facts that are known and not in dispute.
TruePeople 9 years ago
Everyone get a piece; building and opening a Hotel of this size one time is a foolish undertaking.... Note how Atlantis took it's time and opened in parts and is today successful.
Add to that all the Non-sense, like missed deadlines, mixed stories, botched construction that does not meet the building / safety codes...
Makes us on-lookers wonder why Izzy would mash up his own business in such as way? what was he out to gain by doing this?
Our gov't is already so suspicious, it seems more reasonable to alot of us that it was prob greed motivated meddling that capsized the BahaMar Boat..... But really.... because of all the double talk.... none of us know for sure what the hell is really going on there (or at least i won't claim to know absolutely myself)
Honestman 9 years ago
From everything I have read in the press and people I have spoken to on the inside of the project, your comments as a "journalist" don't seem at all balanced. I am not suggesting that the BahaMar management team were blameless, far from it, but from everything I have gleaned, the quality of the CCA workmansip on the finishings and installations was dreadful. The governments complicity in the whole affair has been outrageous also therefore why are you aiming your criticism mainly at Izmarilian unless you have an agenda?
JohnBuchanan 9 years ago
All I can tell you is that I covered Baha Mar for Hotel News Now, the #1 hotel business website in the world, and did three major articles. They lied to me repeatedly, attacked the facts I reported in the last two stories, etc. And again, it is the developer's responsibility to manage a project. IF CCA did shoddy work, why did Izmirlian not disclose that and challenge them long before he cancelled the phony March 27 opening two hours after my March 24 story came out? And most of all, why has he never apologized to the thousands of innocent consumers he ripped off with the two phony opening dates? The facts speak for themselves. If you cannot see them, that is your problem, not mine.
Bahamian_in_London 9 years ago
John, you may be a journalist, but you clearly have no commercial understanding of the situation.
Sarkis had not ability to 'challenge' CCA for their shoddy work. They breached their contract by walking off the job in Feb, but they could not be replaced without the China ExIm's approval, as hiring them were part of the terms of the debt.
As such, irrespective of some undoubted PR failiures, there was literally nothing Sarkis could do to complete the project when CCA walked off.
paul_vincent_zecchino 9 years ago
You're new here, aren't you? Why do I have trouble putting faith in your statements?
Well_mudda_take_sic 9 years ago
Commenter JohnBuchanan above is nothing but a paid hack/troll for the parties being sued by the Izmirlian family in the High Court in the UK. In essence, JohnBuchanan is a fervent (and I dare say, gleeful) supporter of the Christie led-PLP government in all that it has done and will continue to do to ensure that the failure of the Baha Mar project takes a maximum toll on the economy of the Bahamas and the Bahamian people. From this point forward I will be ignoring (not even reading) anything he may have to say......after all, tripe is tripe no matter how well intentioned it may be and fiction, not matter how well masked, is just that, fiction!
JohnBuchanan 9 years ago
In fact, I am simply a journalist -- and the one that broke the story March 24 at Hotel News Now, the global hotel industry website published by Smith Travel Research (which every hotel in the Bahamas uses for market data). And I guess you missed my clear point that the Prime Minister could very l be KILLING any deal with his demands. IF a new buyer is found and the resort completed, then Christie deserves some credit. If NOT, which is certainly possible (the project was deemed too big and too expensive to operate from the start by objective experts in the U.S.), then he deserves much of the blame. But the fact is, Izmirlian blew it. Period. And he has paid the price for that now.
Economist 9 years ago
Just to be clear. In reading your comments over the last few months you appear to be saying that this is all Izmirlian's fault and that China Construction Company are blameless and have nothing to do with the problems at hand.
Since you are a journalist are we correct in assuming that your sources are all reliable, or you would not make such derogatory comments.
It is just that some Bahamians have said that the work done by the CCA was inferior and what you are telling us is that they are lairs, correct?
TruePeople 9 years ago
Tings on the ground is often different from whats in the papers
JohnBuchanan 9 years ago
My sources -- including in the Bahamas -- are 100% reliable. And all of my articles were 100% accurate. If not, Baha Mar would have sued me. FYI, Neil Hartnell at the Tribune and I communicated frequently before and after I broke my big story in the U.S. March 24. He also helped me with fact checking so I knew I was accurate and in some instances, I referred him to my sources. he also cited me in one of his stories back then. Speaking personally, I could not care less if Baha Mar ever opens. But I love the Bahamas and have been coming there for 35 years (stayed at Cable Beach Hotel back in the day) and I appreciate the fact it will be an economic disaster for the Bahamian people if it does not open. My bet is that some big operator like MGM or Sol Kerzner pick it up for cents on the dollar and then open it -- probably under a new name since the brand has been killed with bad PR all over the world. The question is whether Christie can force the new buyer or operator to pay all the Bahamian contractors that got burned and the 2,000 redundant employees to keep food on their tables. I assume we'll all know that together by early next year.
banker 9 years ago
Journalist LOL!!!
http://tribune242.com/users/photos/2015…
paul_vincent_zecchino 9 years ago
Banker -
Concur. Totally.
This guy sounds like a fourflusher. He's new around here, too, isn't he?
Funny, they way in which they just show up.
JohnBuchanan 9 years ago
You might want to read my March 24 article, moron. And FYI, Hotel News Now is the #1 hotel industry news outlet in the world. Please also note the statement Baha Mar issued two hours after my story was published -- cancelling the entire opening, which I already knew was a scam.
http://www.hotelnewsnow.com/Article/155…
Here's the scoop I broke in the U.S. (it had been reported days earlier in the Bahamas) that the original December opening was delayed.
http://www.hotelnewsnow.com/Article/143…
Still LOL at my claims to being a journalist? Fool.
paul_vincent_zecchino 9 years ago
The moment you regressed to insults, you confirmed what the rest of us suspected and served notice that nothing you say can be taken as tacit.
Thank you for being so forthcoming.
TruePeople 9 years ago
People is take tings personal doe! Just debate people. Address people ideas, don't be dressin up the person o_O
banker 9 years ago
As a Donald Trump supporter, and your supercilious attitude here, you are no more a journalist than the people at BahamasPress. You are in the same league. If you were a real journalist, you would be addressing these issues in your regular column in whatever #1 website, journal, whatever and not in the comments section of a Bahamian newspaper.
JohnBuchanan 9 years ago
Banker: You somehow missed the fact that my posts in "support" of Donald Trump are a JOKE. If you don't grasp that, no wonder you miss the fact I am the journalist who uncovered the entire Baha Mar fraud last March. And for the record, I am a journalist, not a columnist. Journalists do not write columns. Columnists do. Different job. I just report articles -- based on facts. Any my Baha mar articles speak for themselves. Everything I reported turned out to be accurate. You need to educate yourself before you spout off.
atyrs1 9 years ago
An unfortunate situation especially for the Bahamian populace. In retrospect, it does seem like the developer should have attempted mediation with the contractor sooner. Then the government should have stayed out of the way and let the Chapter 11 go through. Maybe the Chinese companies would have been successful in having the U.S. bankruptcy dismissed but then again maybe not. And, if the Chapter 11 would have been allowed to proceed, it would have been a vastly better outcome for the creditors including the Bahamian contractors. The PM is not doing the country any favors at this point. Bran's recent comments on the present situation are right on.
Publius 9 years ago
I know trolls gatta eat too, but can we please not feed the trolls like Buchanan?
Meanwhile, this Baha Mar matter is such a scandalous, ridiculous tragedy of Bahamian governance, commerce and foreign relations till I'm sick of entertaining the thought of it for now.
TruePeople 9 years ago
Don't worry.... Perry done say this thing was opening soon ..... right?
jackflash 9 years ago
So this means that Tals dock is safe until Feb 1st??
islandlad 9 years ago
John buchanan has some very good points and I don’t think he is trying to be all one side and does acknowledge the fault to be place in CCA and the complicity of the government and their anointed inspectors who had on hundreds of occasion had to visit the project and pass on certain codes until any further work could be done…..so how did work continue? Based on very reliable inside sources, I can confirm that not only was the original December date missed, most people with any hotel experience were saying back in the summer that December date was absolutely not going to happen….yet senior BML leadership kept turning the other cheek and force it down the world. That being said, CCA was pushed so hard that corners were cut….and BML knew it. Further delays were because BML started running out of money more than a year ahead of time because of “Ego” spending and not smart marketing. $250,000 plus expenses for a feng shui Master to fly in and do and bless a good luck opening day which again was pushed down the ranks as no option other than to comply does not seem like good business. the March date was indeed missed even further and had no chance based on several slowdowns as CCA wasn’t getting paid. March date was never going to be an option either…..all the Brand hoteliers always forecasted a Late summer opening……ironical, most people don’t know that back in 2013, Fall 2015 was the target date….ego and not wanting to miss the prime season is why December 2014 became the de facto forced date. A non-official and up to 72 hour s prior to yet another “Official” announcement, May 15 was to be a new date…..and on and on and on. CCA has said in public, and very true that thousands of work change orders would came in, many daily….mostly cutting back and redesign, less pools, smaller fountain lakes etc…..all because BML couldn’t afford it anymore….these things add time, not decrease it, yet opening dates never change contrary to CCA’s continued revision and forcast of what they thought was a more reasonable time for completion and BML would not accept.
banker 9 years ago
There are three sides to every story -- yours, mine and the truth.
JohnBuchanan 9 years ago
Well stated... I agree with everything you said. And it was Izmirlian's inexperience as a resort developer -- especially "the biggest in the history of the Caribbean" -- that led directly to some of the key problems you cite. But God knows the Christie government did its part to kill the project, too, through incompetence. All very sad. But also very real.
ThisIsOurs 9 years ago
I actually agree with Buchannan as well. It was clear to the Bahamian contractors, one of whom I spoke to, that the hotel could not be opened. The contractor mentioned something about a custom generator that had been shipped to the wrong location and would have to be rebuilt. It was clear to passing motorists that the piles of dirt and construction equipment on the property could not be cleared in two weeks. A non-event was also clear to employees who were told that they had to carpool because someone forgot to plan for parking. It appeared clear to everyone that the hotel could not be opened, so the media campaign put forward by the PM and Izmirilian about a pending opening was somewhat baffling
TruePeople 9 years ago
There's so much foolery with BahaMar it's amazing. I think the Gov't should have (if they wanted to meddle so much) limited the scope of BahaMar's inital construction (they have the power over the permits). The Gov't should have welcomed them, but only on the condition that this thing was built in stages, and could be financially accountable (and profiable) at the end of the day. Whatever Izzy dem was thinking, the clueless way the gov't handled the entire affair only add to the fiasco
sheeprunner12 9 years ago
The bottomline is that Bahamar sits unfinished and unopened on our prime Cable Beach ...... the question is whether it will open as is or will it be necessary to sell off those hotels individually to American or European investors (no Asians please) who will be willing to clean up the Chinese poor workmanship and relaunch them without any reference to Bahamar .............. this has to be done by next summer
bloody7691 9 years ago
I am never suprised how we Bahamians all ways think we get something for NOTHING
HELLO SLOW FOLK IZMIRIAN AND CO , ARE NOT OUT THE DEAL YET
it does not work like that , you people think someone sinks over 800 miliion dollars in somethong and just because it go bad , they out and done... lord help me the incredible ignorance that runs in the veins of so many Bahamians......
Gimme and Mine attitude..... no its along way to go , so put down ya fork and sit ya broke and ignorant butts down , IZMIRIAN and his lot stil has a huge say in where that property ends up.....
No wonder we so dam poor as a nation , we stupid and greedy too......
ThisIsOurs 9 years ago
Explain please... I'm not the sharpest knife in the drawer, but my understanding is the bank repossessed the property and that's the end of that. Izmiralian is still suing CCA for shoddy construction, but even if that goes in his favour (it should in my opinion), I don't see the UK judge telling the bank to return the property to him.
Izmiralian was probably the best bet for the hotel's future, simply because he loves the development and more importantly, seems to have some interest in people development. He may have needed to bring an experienced hotel developer on board, but I don't think that would have been impossible.
Government officials really need to stay out of business, they ruin everything they touch. The fact that they've requested yet another adjournment is simply amazing. They too use to filing frivolous lawsuits. They should be fined for wasting the court's time.
TruePeople 9 years ago
Ya.... Prime land.... and all we got right now is a dock and a HUGE eyesore
Sickened 9 years ago
I think it's going to be a Chinese Naval Base.
paul_vincent_zecchino 9 years ago
Perhaps it already is.
ThisIsOurs 9 years ago
This is clear evidence that the government never had a plan. They're simply dragging out the disaster they initiated.
TalRussell 9 years ago
Comrades the only person to go to to sort out, if the Izmirlian Baha Mar story is more about fiction than reality, would be Papa Hubert. But that is the one red regime plot the former PM will take to his grave. The 2000 workers in limbo, the Delaware court filings, liquidators #1 & 2 - are all to add to the ongoing high drama at Cable Beach.
How the media have allowed the former PM to be allowed do duck some serious questions surrounding Baha Mar, just goes to show the strong influence this man still holds over the media in general.
Minnis i understand the why but it puzzles the hell out me, why PM Christie continues to hand Papa his free pass over Baha Mar?
What is there the pubic is not suppose to ever learn about these two former law partners?
TruePeople 9 years ago
Becuase like you sey, Papa is more yellow dan red
Franklyn 9 years ago
http://tribune242.com/users/photos/2015…
Baha10 9 years ago
I applaud John Buchanan for articulating so well what a "few" of us knew all too well was the "real" reason this Project imploding, namely Izfailian and his incompetent Management, together with his hand picked Light Weight "social" Directors and Legal Advisors. The only person who I have any sympathy for in this whole debacle is his Father, who backed his Son, only to see him disgrace the Family Name and in the process squander the Family Fortune. One can only hope that he leaves to Charity what may remain!
countryfirst 9 years ago
The fact of the matter is if CCA had completed this project on time this whole debacle would not exist.Anytime your lender is also your contractor and you have a bunch of greedy corrupt government officials this will be the outcome and Buchanan you must be one of them.
ThisIsOurs 9 years ago
He's giving realities, it may not be what anyone wants to hear about "the good guy" in the tale. But you have to ask yourself, how could construction have gone so far with so many faults, if Izmirilian was doing even an "adequate" job of management?
From what he's said, I don't think he's any fan of the government either, he clearly thinks Perry Christie is making a mess of this whole process.
TruePeople 9 years ago
Exactly ThisisOurs. There's a whole management team, a gov't, a legal system of checks and balances. Was building code ignored because CCA was rushed because of this because of that, and then the gov't jump in with the next thing.
This thing is huge, and blame can't rest at one person feet alone
cmiller 9 years ago
We as Bahamians must learn from these experiences. All we ever do is sit on our asses expecting foreigners to come bring money, invest, and then find jobs for us. We need to do more for ourselves!!! What we get from these deals, into which we have actually contributed nothing, we must take wearing big boy pants!!!
Sign in to comment
OpenID