Honestman 8 years, 7 months ago on PM: Izmirlian ‘deserving of consideration’ over Baha Mar
PM: Izmirlian ‘deserving of consideration’ over Baha Mar
Surely he can't be considered again without undergoing a psychiatric evaluation?
Gotoutintime 7 years, 9 months ago on Baha Mar’s foreign creditors to get ‘3-4 cents on dollar’ offer
Baha Mar’s foreign creditors to get ‘3-4 cents on dollar’ offer
Anyone who invests in the Bahamas in the future is just plain "Nuts".
Dotherightthing 7 years, 5 months ago on Baha Mar expats make ‘PR nightmare’ warning
Baha Mar expats make ‘PR nightmare’ warning
Oldfort2012,
I appreciate your comments as they are well written and provide transparent clarity to the situation. You are correct that the Chinese are calling the shots however the Christy administration had a seat at the table as it relates to the 101 million "gift". The Government provided concessions in exchange for this loan which was politically motivated.
The Government had the opportunity to recommended that the expats should be compensated in addition to the Bahamian employees, businesses and sub contractors needed to complete the resort but they chose not to include the expats in the discussion.
The Claims Committee was a Government appointed committee being directed by the bank. They ultimately were the facilitator of distributing the funds but if the Government would have included the expats in the initial communication with the bank everyone would have been paid.
The expats may not have a leg to stand on legally but they are going to seek legal representation in the Bahamas. What choice do they have?
The new Government needs to "do the right thing" and use their influence with the Chinese bank to utilize the remaining funds from the 101 million "gift" and pay the expats. If the bank chooses to not pay the expats where are the remaining funds going to be allocated?
No one wants to smear Baha Mar, The Bahamas or the Chinese but if the decision is to not pay the expats and do what's right why wouldn't this group who represents 500 years of hospitality and gaming experience/relationships tell their story to anyone that will listen.
This can all be avoided should the Government simply persuade the bank to pay the expats.
Dotherightthing
Dotherightthing 7 years, 5 months ago on Baha Mar expats make ‘PR nightmare’ warning
Baha Mar expats make ‘PR nightmare’ warning
Oldfort2012,
I appreciate your posts as they are well written, informative and provide clarity to the situation.
That being said did the Bahamian Government not provide concessions in exchange for the $101 million? Did the Bahamian Government not have a say in how the $101 million was allocated and to whom? If the answer is yes to either or both questions then the Bahamian Government clearly had the opportunity to ensure all employees of Baha Mar were compensated for what they were owed.
The Claims Committee was a Government appointed agency. Communication from this committee to the former expats was that a decision would be made by a specific date. This date came and went only to be told the decision date was delayed until December 31, 2016. That date also came and went and communication then stopped. Perhaps this was an intentional diversion as the Government clearly new there is a one year statute of limitation to file a claim against the Government. We were all made redundant October 15, 2015.
The Chinese have no interest in paying the expats unless they can be convinced by the new Bahamian Government that it is in their best interest to do so. The Bahamas does not need any help in the negative PR area and more importantly it's the ethical thing to do.
TalRussell 8 years, 7 months ago on New Baha Mar bid by Izmirlian
New Baha Mar bid by Izmirlian
Comrades while senior management at resorts come and go, we taxpayers are not so concerned. But as an one of the many investor shareholders, whose money was kidnapped by government, when the cabinet used state funds, grants properties and concessions to dump into Baha Mar's deep hole, reportedly to be in the $1 Billion dollars range, can we have answers to the following questions?
1.The 5 more senior Baha Mar executives that were terminated from their posts with the $3.5 billion development, were in fact terminated by the failed development's receivers and were not among the same executives of which Izmiarlian claims to have been personally paying?
2. That since the resort development never did get to open for business, long ago ceasing its complete operations, it would be reasonable to ask why the 5 were continued to be paid, and for what duties did the 5 perform?
3. How many other native/foreigner paid citizens remain on the receivers payroll as citizens at the former Izmirlian nation?