Well_mudda_take_sic 9 years, 5 months ago on Baha Mar granted adjournment to July 20 for bankruptcy hearing
Baha Mar granted adjournment to July 20 for bankruptcy hearing
Meanwhile, Carnival gets permission from the U.S. government for its cruise ships loaded with U.S. tourists to visit Cuba's ports!
John 9 years, 5 months ago on Talks agreed over Baha Mar
Talks agreed over Baha Mar
The Chinese economy is in a slump and definitely headed for a recession. Stocks on the Chinese market have fallen by 30% in just one month and has caused so much concern that persons who own more than 5% of the shares of any company are urged not to trade their stocks for the next six months. Both imports and exports are down significantly to China and is causing concern to the government. Remember when the rest of the world was in recession China had a booming economy. Maybe it's their turn now.
bahamian242 9 years, 5 months ago on Mitchell: Izmirlian would have been thrown out of country in the past
Mitchell: Izmirlian would have been thrown out of country in the past
Well that's one thing I know he can't do! Yes he could, but you would have to buy him out, and the Bahamas can't it afford that all!
John 9 years, 5 months ago on Just 50 Baha Mar staff left if no deal
Just 50 Baha Mar staff left if no deal
We seem to forget it is Bah Mar that is in bankruptcy protection and not Izmirilin. That is the purpose of forming a company; to protect one's assets that are not a part of that company. If nothing gets solved in China then Izmirilin will be allowed to put his case before the Delaware courts claiming collusion by China Bank and intentional delays and sabotage by the China Construction Company. If the court feels there is sufficient evidence to proceed Izmirilin will be given his chapter 11 bankruptcy protection. If he prevails in his case against the Chinese he is likely to recover hundreds of millions from them. The bank and the construction may also be facing heavy fines and Izmirilin may be allowed to seek new financing and a new construction company and finish the project before he is required to settle his debt with China Bank. If Izmirilin can prove that the construction company, weather willfully or through negligence caused the delays of Bah Mar and produced shoddy and sub-standard work, then most likely the courts will not compell Bah Mar to work with the same construction company. Remember the Delaware will be ruling not only to appease the parties involved but it will also be setting a precedent for similar cases that may arise in the future.
JohnBuchanan 9 years, 5 months ago on Why Baha Mar filed for bankruptcy
Why Baha Mar filed for bankruptcy
This pathetic and simplistic, superficial explanation from "Sandy" Sands illustrates why he has become a laughing stock -- a joke -- to journalists in the Bahamas and the U.S. The two key facts he leaves out are: 1) The Chapter 11 process is based on the evidence showing that a company or venture is VIABLE going forward, based on the facts, and 2) If the entity is NOT deemed to be viable (lacking funding, being too far gone in terms of debt, etc.), then indeed liquidation of assets by the court, with that money being distributed among creditors, is the remedy. If the negotiations this week in China were not successful, then the hearings July 20 in the Bahamas and U.S. will begin the end of Baha Mar. The project has been bungled by Sarkis Izmirlian from ther start and the gross incompetence of his "management team" has likely doomed it. And no one deserves to be out of work and disgraced more than the BS artist "Sandy" Sands.
Well_mudda_take_sic 9 years, 5 months ago on BREAKING NEWS: BAHA MAR STATEMENT ON PRIME MINISTER'S DECISION
BREAKING NEWS: BAHA MAR STATEMENT ON PRIME MINISTER'S DECISION
AS I SAID YESTERDAY: Christie, Maynard-Gibson aka Wicked Witch and Gomez aka Minion will now seek to rob the Izmirlian family of their entire interest in the Baha Mar property physically located in the Bahamas by any means possible, which, when all is said and done, will be tantamount to a de facto confiscation by expropriation of the Izmirlian family's equity interest in the property for the benefit of Christie's new found Chinese friends. You can be rest assured every Bahamian government department, agency and corporation will be instructed not to assist the Izmirlian family or Baha Mar's representatives in any way whatsoever without the express approval of Christie or his Wicked Witch on his behalf. As for any legal actions to be heard in the Bahamian courts....well, we all know the influence that can be wielded at will over our courts by the Wicked Witch doing Christie's bidding. Of course it will take many years for the value of the Izmirlian family's equity interest in the venture to be determined by the eventual outcome of the legal actions properly brought by Baha Mar, as a last resort, before foreign courts in Delaware and the U.K. The only honourable thing Christie could possibly do now is dissolve parliament, but he is too delusional, self-infatuated and irrational to do anything honourable!
Well_mudda_take_sic 9 years, 5 months ago on Mitchell says bankruptcy filing was ‘act of unfairness’
Mitchell says bankruptcy filing was ‘act of unfairness’
Christie, Maynard-Gibson and their cohorts are petrified and mortified by the prospects of their backroom deals with the Chinese being revealed as a result of the actions filed by Sarkis / Baha Mar in foreign courts, well away from the sphere of corrupt influences and shenanigans all too often directly associated with Maynard-Gibson.