Bahamas Prime Minister Perry Christie addressed the nation of The Bahamas Thursday night to discuss the state of Baha Mar negotiations and proceedings.
“This project, the largest of its kind ever to be built in a single phase in the Caribbean region, has enormous economic and employment implications for The Bahamas, and my Government has been working diligently with the relevant parties with a view to ensuring the completion of the project as soon as possible,” said Christie.
But Baha Mar Ltd. was particularly irked, however, by Christie’s mentioning of a “winding up petition in the Bahamas Supreme Court against the 14 Bahamian entities that filed for Chapter 11 protection in the United States at the end of June.”
In a statement released Friday, Baha Mar Ltd. said, “The Bahamian Government’s decision to seek a winding up of Baha Mar is both unnecessary and reactionary, puts Baha Mar’s staff and assets at severe risk, and significantly jeopardizes the future of the resort.”
Baha Mar is set on 3,000 feet of beach just 10 minutes from Nassau's international airport. It will feature elite hotels with gaming, entertainment, private residences, shopping and natural attractions that reflect an authentic Bahamian experience.
According to the Baha Mar Ltd. statement, “We urge the Government of The Bahamas not to seize private party assets and to allow the private parties in what is after all a commercial enterprise to come to an agreement that would allow for the completion and opening of Baha Mar as soon as possible, as the Government has publically and explicitly urged.”