Prime Minister Perry Christie pictured during his national address on Baha Mar.
By RICARDO WELLS
Tribune Staff Reporter
rwells@tribunemedia.net
IN response to mounting concern over the concessions offered to Chinese investors to remobilise Baha Mar, the government denounced claims that inducements of citizenships and private islands were offered to kick-start construction efforts at the stalled $3.5bn Cable Beach property.
“The government will not be distracted from its efforts and will continue to work for and on behalf of the Bahamian people,” a statement released by Bahamas Information Services noted.
“There have been allegations that we have offered citizenships. This is false. There have been allegations that we have given away or sold islands. This is false.”
“Nothing has been given by way of concessions that has not been offered before to previous investors,” the government’s statement added.
It also stressed that the government will extend “appropriate concessions to facilitate the construction and promote the successful future operation of the Baha Mar resort” and that resort will be sold to a “world-class” operator.
The Christie administration has been publicly castigated in recent days by members of the Official Opposition, other political parties and factions for the decision to have the court documents relating to the Baha Mar agreement sealed, with some going as far as to brand the move as “deceptive” and “reprehensible” on all levels.
However, responding to these arguments, the government’s statement insisted that the full details of the agreement were revealed to the court and subsequently ordered sealed.
“This is usual in matters of this kind so that sensitive negotiations may proceed and conclude in an orderly fashion, in the public interest,” the statement added.
It noted further: “As the prime minister said in his statement, remobilisation of the project will begin immediately. This has already started. The prime minister also said construction will begin next month. Preparation is already underway.
“Arrangements for the transfer and the payout of creditor, including employee claims, are currently being finalised. In the coming days, further announcements will be made as to how employees and creditors may submit their claims.”
The statement said Mr Christie outlined several facts during his national address on Baha Mar on Monday, including “the fact that construction at Baha Mar will be resumed as quickly as possible.
“The fact that the China EXIM Bank has committed to fund all remaining constructions costs to complete Baha Mar. The fact that we are making every effort to ensure that the casino and casino hotel, the convention centre and its hotel, and the golf course, will open before the end of the 2016-2017 winter season. The fact that the thousands of former Bahamian employees of Baha Mar will receive the following outstanding amounts due to them: unpaid salaries, severance pay, accrued vacation pay, and notice payments due to termination.”
It continued: “The fact that additionally, sums deducted from employees and former employees’ salaries and pension contributions will be repaid. The fact that funds will be made available to enable Bahamian creditors and contractors to receive a significant part, and possibly all of the value of their claims. The fact that Bahamians holding commercial leases and concessions, will be permitted to continue to hold them. The fact that many of the same people and companies who were previously contracted will be re-engaged to complete the project.”
The statement also reiterated Mr Christie’s declaration that government run utility companies will receive payment for some of their outstanding claims against the Baha Mar companies.
The statement noted that the Baha Mar group of companies are all subject to ongoing liquidation proceedings, and as a result, are governed and supervised by the Supreme Court.
The government noted that Baha Mar, referring to the resort as the largest project ever of its kind in the region, is a complex, commercial transaction that requires significant attention to detail. The government, together with other stakeholders will continue to work to implement the obligations under the agreement, the statement said.
The mega resort was first scheduled for December 2014 opening, but was delayed to March 2015 and again to May 2015.
The project’s developer filed for Chapter 11 bankruptcy protection in the United States last June, however the matter was not recognised in the Bahamas. The US court later through out the bankruptcy application related to Baha Mar’s Bahamian companies.
The property was placed into receivership last October.
Comments
Publius 8 years, 2 months ago
No citizenship was offered, but was it granted? That's the key here. No, you didn't offer it, they asked for it. So did you grant it, or not? After all these years, the media and these so-called politicians still do not catch when they are being lawyered?
alfalfa 8 years, 2 months ago
Pubilus, you stole the words right out of my mouth. We will never be told the truth on this, but will discover it when the New Legal Chinese population catches up with the Haitian population. We will soon be third class citizens.
Alex_Charles 8 years, 2 months ago
we already are
ThisIsOurs 8 years, 2 months ago
"Nothing has been given by way of concessions that has not been offered before to previous investors,” the government’s statement added"
Crown land has been given away before and residency for investments have been given away before, the concern here is that we will see a SCALE of give always that we have NEVER seen before. So if all the crown land on an island is given away and 500 citizenships are given away, they can claim these "elements" are nothing that werent given away before.
Alex_Charles 8 years, 2 months ago
He's dodging with words again. Show us in writing what concessions were given up. Don't expect us to trust you, you have lied before and will lie again.
ThisIsOurs 8 years, 2 months ago
This picture must hold the highest "linked to allleged scandal" per capita ratio of any picture in the entire world...titling heavily on the left side
Emac 8 years, 2 months ago
LMAO....Gonna chase those crazy bald heads outta town!
SP 8 years, 2 months ago
............................... PM Christie Is Full Of Steaming Horse Shyt ...................................
Chinese are certainly not in the habit of being on the losing end of negotiations and Christie has proven incompetent at best on every possible front!
Details of this "deal" will reveal at minimum Bahamas natural resources being severely comprised.
concernedcitizen 8 years, 2 months ago
If they had to give 500 residencies to high worth individuals that's fine ..We already offer residencies to high worth individuals ,,ie Joe Lewis who did Albany ..That is really the new offshore banking .That is what we have to sell ,sun ,sand ,sea and favorable tax rates with very little extradition in financial matters .We have underpopulated and unpopulated Islands From and beaches From Bimini to nearly Cuba to sell .
Publius 8 years, 2 months ago
Actually it is not fine, because that is not the law with respect to the granting of permanent residencies. Permanent residencies are not granted simply because you supposedly have or are worth a certain amount of money. I understand your point, but it is not fine to grant something like PRs in contravention of the law.
concernedcitizen 8 years, 2 months ago
If you buy a half million dollar home here you are eligible for residency
Publius 8 years, 2 months ago
Yes, that's if you do so according to the law. Your stated criteria was personal worth, not actual investment.
BaronInvest 8 years, 2 months ago
Yeah but so far we are not getting it. Already thinking about pulling out of the country and shut down our business here and sell all the properties.
asiseeit 8 years, 2 months ago
Scary.
screwedbahamian 8 years, 2 months ago
The only Bahamians that are recognized by the world as Bahamians are the corrupt politicians who the third class population elect and who eat, drink and give away anything and everything that God has blessed the Bahamas with to other corrupt unscrupulous foreign and indigenous ( usually ex-politicians ) Investors.
bogart 8 years, 2 months ago
........actually it is the global reality and in the quest for scarce capital to come in and create jobs in a slowly diversifying economy. Sadly past experience and lack of various opposition forces to challenge business disasters is inexcusable, and inevitably results in throwing of rocks and conch shells. Some disasters would be the CLICO where a high cash inflow premiums collecting entity was allowed to borrow money to buy real estate and pay mortgage interest plus monies flow out to buy land in Florida without major questions asked, GULF UNION BANK where monies flowed out and local depositors had the Bahamas govt subsidize pay savings accounts up to 50k, sale or merger or combination or reverse acquisition of BARCLAYS TO CIBC - under entity of FirstCaribbean - two major local banks grown off of Bahamian hard work and conducive business conditions provided in the Bahamas with local assets of then some 4 Billion and questions of stand FOREIGN ENTITIEs Stamp duty paid, ALANTIS allegedly pledging Bahamian assets granted with special concessions on behalf of the Bahamian people by the govt and BRooksfield now holding mortgage, BahamaSupermarkets allowing Caribbean company to take over local supermarket and then ensuing ownership leaving Bahamians workers without pensions with allegations of pensions used to lease or buy store equipment,, Bank of the Bahamas another large business entity with questions needing to be asked - minority interest representation. SHOCKING that our own Bahamians can get the short end of the stick and FOREIGN ENTITIES get preferred treatment as our birthright is parleyed. Commissions of Inquiry are needed to investigate persons testify, info given instead of every TOM, DICK or Harry throwing stones or conch shell. Disappointing the the opposition or wannabees are incapable of having a Town Meeting and getting into the 'Chinese' citizenships after coming out of the 'tube tying' biological issue. Historically and biologically the original inhabitants of the Bahamas were of Asian ancestry who traveled over the frozen Bering Straits ice over sea and migrated through North America downward to the Caribbean. The world is watching.
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