The Tribune

By LYNAIRE MUNNINGS

Tribune Staff Reporter

lmunnings@tribunemedia.net

PRESS secretary Keishla Adderley could not give a timeline for Attorney General Ryan Pinder’s review of a New York State Supreme Court ruling in which Baha Mar’s original developer, Sarkis Izmirlian, was awarded more than $1.6bn in damages in a fraud and breach of contract case against China Construction America (CCA), the project’s main contractor.

In his ruling, Justice Andrew Borrok found that Mr Izmirlian had proven his fraud claim against CCA “beyond doubt.” He ruled that CCA “falsely” assured Mr Izmirlian that Baha Mar would be completed by the March 27, 2015, target date, which led to a liquidity crisis and Mr Izmirlian’s eventual ouster from the project.

The judge also described a November 2014 meeting in Beijing, where the completion date was agreed, as an “absolute sham and shakedown” perpetrated by CCA. He further ruled that the $54m CCA convinced Mr Izmirlian to release, supposedly for sub-contractor payments and construction changes, but it was instead used to finance CCA’s purchase of the British Colonial property in downtown Nassau.  

In a statement released on Sunday, the Office of the Prime Minister said Mr Pinder had been instructed to review the judgment and that no further comment will be made until that review is complete.

“I cannot place a timeline on that or add anything further to what’s been said,” Ms Adderley said during yesterday’s weekly press briefing. “The Attorney General will conduct a review, and any decisions or implications will flow from that review. I wouldn’t put a timeline on it.”

Opposition leader Michael Pintard had described the allegations as damaging to The Bahamas’ reputation as a credible place for business.  He stressed the need for an independent investigation, stating that the opposition does not believe this administration will investigate itself and produce impartial, transparent conclusions.