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Bahamas broker: 50% of client assets in jeopardy
ALMOST 50 per cent of client assets at Owen Bethel's Nassau-based Montaque Capital Partners, which is reportedly insolvent with a $9.367 million net asset deficiency, are in jeopardy due to a Canadian institution's claim against them, Tribune Business can reveal.
‘We must reform campaign finance’
FORMER State Minister for Legal Affairs Damian Gomez said allegations about the relationship between Canadian fashion mogul Peter Nygard and the Progressive Liberal Party are “not a good thing for the country,” adding that he hopes it spurs legislative reforms like the passing of campaign finance laws.
Sarkis’s letter shows breakthrough on Baha Mar ‘not imminent’
Sarkis Izmirlian’s letter to his former 2,026 Baha Mar staff shows there is no “imminent” breakthrough likely in the impasse over the $3.5 billion project, a senior private sector executive believes.
Baha Mar appoints ‘restructuring’ chief
Baha Mar yesterday pushed forward with its Chapter 11 plans by seeking US court permission to appoint a ‘chief restructuring officer; while Bahamian attorneys spent a second day attempting to thrash out the powers its joint provisional liquidators will possess.
$315m lost in Baha Mar tax
IT is estimated that the government has lost $315m in tax revenue from the beleaguered Baha Mar resort due its opening delays and the court appointed receivership process, according to an economic impact report of the $3.5 billion property obtained by The Tribune.
Accountant opposed by own creditors committee
An accountant is facing opposition from his own liquidation committee as he bids to obtain over $1m in compensation for efforts to wind-up a collapsed Bahamian broker/dealer.
We’re ready to take a hit on sale price
THE government has given itself a little over a month to close bids for the sale of the Grand Lucayan, according to Hotel Corporation chairman Michael Scott.
US warnings ‘threaten core of our existence’
The Bahamas “must do everything in our power” to combat US crime advisories, the Chamber of Commerce’s chief executive warning yesterday: “It threatens the very core of our existence”.
DEMOLITION GOES ON DESPITE SHANTY FIRE: No casualties reported but cause of blaze is still being investigated
DEMOLITION of the Kool Acres community will still proceed today despite the blaze that tore through the shanty town on Saturday engulfing more than 70 homes and destroying numerous belongings and personal items.
Stopover tourism ‘85% recovered’ this winter
The Bahamas’ stopover tourism business will be “close to 85 percent” of pre-COVID levels by the 2021-2022 winter season, a top hotelier is predicting, with a return to full business levels “very achievable” next year.
Bahamas ‘leads pack’ over digital adoption
A senior Royal Bank of Canada (RBC) executive yesterday hailed The Bahamas as “a bit of a bellwether” for the Caribbean on digital payments adoption with more than 50 percent of its local clients now using such channels.
Hundreds of plea deals since January 2016
THE Office of the Director of Public Prosecutions has facilitated 274 guilty plea bargains since January 2016 as part of an unprecedented push to alleviate the burden on the judicial system through these arrangements.
D’Aguilar: We will be flexible
TOURISM and Aviation Minister Dionisio D’Aguilar said the government will be flexible with web shop taxes, adjusting its new sliding scale scheme if it proves too onerous.
Child, nine, among new cases of infected
THE number of confirmed COVID-19 cases in the country has jumped by three to 24 and a nine-year-old girl is among the infected.
Eight Mile Rock man charged with rape
AN Eight Mile Rock man was charged with rape in the Freeport Magistrate Court on Friday.
Man charged with trying to procure girl, 12, for unlawful sex
A 26-year-old man was arraigned in a Magistrate’s Court yesterday charged with one count of procuring a minor for the purpose of unlawful sexual intercourse.
Ayton posts double double in loss to Pelicans
NEW ORLEANS (AP) — Deandre Ayton scored 20 points and led the Phoenix Suns with 12 rebounds on Saturday night. But they were defeated by the New Orleans Pelicans 119-99. It was the eighth double-double for the rookie No. 1 draft choice. He shot 9-12
Bahamas 'not maximising' impact as tourism booms
The deputy prime minister yesterday admitted The Bahamas has failed "to maximise visitor spending", and retain more of this within its economy, despite a "booming" tourism industry whose numbers "have never been better".
Demolition begins at Port Lucaya resort ahead of development
DEMOLITION of the Port Lucaya Resort started yesterday, clearing the way for a major real estate development.
SYSTEM EXPECTED TO STRENGTHEN AS IT REACHES THE BAHAMAS
By RASHAD ROLLE
