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A chapter of disaster?
The Baha Mar bankruptcy order should be granted in the Bahamas to avoid a damaging dog-fight between creditors, Richard Coulson urges.
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‘Devil in details’ sinks $300m Baha Mar deal
A $300 million agreement to resolve Baha Mar’s woes was sunk when the warring parties were unable to agree “the devil in the details”, Tribune Business was told yesterday.
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Gov’t to phase-out VAT bi-annual filing
The Government is moving to eliminate the bi-annual filing of Value-Added Tax (VAT) returns by year-end, in a bid to boost its cash flow and obtain more consistent returns.
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Sports notes
THE Bahamas Lawn Tennis Association is scheduled to open the main draw of the International Tennis Federation’s Junior Junkanoo Bowl Tennis Tournament at the National Tennis Center 9am today. THE Bahamas Lawn Tennis Association is scheduled to open the main draw of the International Tennis Federation’s Junior Junkanoo Bowl Tennis Tournament at the National Tennis Center 9am today.
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Businesswoman infuriated at poor Immigration service
CEVA Seymour, operator of Regions, is so fed up and frustrated with the inefficient, slow and poor service concerning the processing of applications for naturalisation and citizenship at the Department of Immigration that she has stopped accepting further applications.
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$80m Baha Mar funds may have been ‘killed’
The $80 million financing facility created by Sarkis Izmirlian to cover Baha Mar’s Chapter 11 operating expenses may have effectively been ‘killed at birth’ by the outcome of yesterday’s Supreme Court hearing, Tribune Business can reveal.
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Baha Mar pay offer’s ‘dangerous precedent’
The Government was yesterday warned it would be setting “a dangerous precedent” if it stepped in to pay Baha Mar’s $7.337 million monthly wage bill, following yesterday’s Supreme Court hearing.
Obit
Pembroke Charles Smith
Funeral service for Pembroke Charles Smith, 80 a resident of Francis Ave, Fox Hill & formerly of George Town, Exuma, will be held at St. Anne's Anglican Church, Fox Hill Road, on Saturday 4th July, 2015 at 10:00 a.m. Officiating …
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Ethel Mae Deleveaux
DEATH NOTICE FOR Ethel Mae Deleveaux Age: 82 years A resident Of Peardale and formerly of Colonel Hill, Crooked Island Died at The Princess Margaret Hospital on Sunday 28th June, 2015 She is survived by her Children: Don, Brice and …
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Olga Doreen Bowles
Final Rites and Burial for the late Olga Doreen Bowles , Age 80yrs, a resident of #35 Hillside Place and Formally of James Cistern Eleuthra, will be held at Grace Comunnity Chruch, on Saturday, July 4th, 2015 at 12:00 p.m. …
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Judge approves request to tap into $80m to get resort back on track
A DELAWARE judge has approved Baha Mar’s request to begin tapping into $80m in financing to keep the resort on track for opening while it undergoes Chapter 11 bankruptcy proceedings.
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Decay and disrepair at International Bazaar
THE International Bazaar – once the heart and soul of Freeport - has lost its allure and has fallen into a state of disrepair.
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Baha Mar gets $2m severance pay nod
Baha Mar yesterday obtained Bankruptcy Court authorisation to pay almost $2 million in severance monies, with July 20 now seemingly set as the date that will determine the fate of several thousand employees.
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Laundry provider closes without $1M Baha Mar payment
Baha Mar has warned its laundry services provider is likely to be forced out of business if the resort developer is unable to quickly pay a $1 million debt, an event that would be “catastrophic” for its Melia Nassau Beach property.
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Baha Mar files for bankruptcy
Shock move by $3.5bn resort amid constructions deadlock
BAHA Mar CEO Sarkis Izmirlian announced yesterday that the $3.5bn Cable Beach mega resort has filed for Chapter 11 bankruptcy in a Delaware Court in the United States “in order to complete construction and successfully open”.
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Baha Mar’s ‘cash run out’ by today
Baha Mar’s dash for Chapter 11 bankruptcy protection was sparked by fears it “would run out of cash” today, with the $3.5 billion project’s inability to open on March 27 having had a “disastrous” and “devastating” effect.
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Swim Nationals: Swift dominates to take title for 5th straight year
SWIFT Swimming dominated the Bahamas Swimming Federation’s 2015 Royal Bank of Canada National Swimming Championships by winning the title for the fifth consecutive year at the Betty Kelly Kenning National Swim Complex over the weekend.
Obit
Pembroke Charles Smith
Pembroke Charles Smith, 80 a resident of Francis Ave. Fox Hill & formerly of Exuma, died at PMH on 20th June, 2015. He is survived by his 3 sons: Winston, Darryl & Shawn Smith; 1 daughter: Charmaine Smith Lockhart; 1 …
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Myrtle Whylly
Funeral service for Myrtle Whylly, 84 yrs., a resident of Waterford, Eleuthera, will be held at The Highway Church of God, Waterford, Eleuthera, on Saturday 27th June, 2015 at 10:00 a.m. Officiating will be Pastor Zilchus Thompson & Pastor Carl …
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Cuba: Immediate threat to 20% of Bahamas’ visitors
Cuba’s opening will immediately threaten more than 20 per cent of the Bahamas’ stopover visitor market, it has been revealed, amid calls for a ‘tourism trade agreement’ with the US to mitigate the impact of its ‘diplomatic reset’ with Havana.
