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Court approves Baha Mar redundancy plan

Supreme Court of The Bahamas Justice Ian Winder has granted approval to the Baha Mar joint provisional liquidators’ request to make redundant approximately 2,000 employees, effective October 23. 

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TheBahamasInvestor.com
Friday, October 23, 2015
Friday, October 23, 2015

www.alixpartners.com www.krys-global.comSupreme Court of The Bahamas Justice Ian Winder has granted approval to the Baha Mar joint provisional liquidators’ request to make redundant approximately 2,000 employees, effective October 23.

The joint provisional liquidators, Bahamas-based KRyS Global and UK-based AlixPartners, said the lay-offs were due to the financial insolvency of the $3.5 billion resort project that has been stalled since June 29.

The lay-offs affect approximately 1,440 non-active employees and approximately 580 active employees, including members of management and line staff.


“Though today’s layoffs are difficult on everyone, it further highlights the urgency for everyone to remain at the negotiating table and maintain the dialogue that may lead to a resolution, a re-start of construction and the completion of the Baha Mar project,” said Edmund Rahming, KRyS Global managing director.

Staff were advised of their status by notice to their individual e-mail addresses or communication from supervisors. Information was also posted on the joint provisional liquidators’ website.

“We were paying housekeeping staff when there was no housekeeping to do, spa staff when there was no spa, casino staff when there was no casino to operate,” said Alastair Beveridge, AlixPartners. “Thanks to monies that were made available to us by the Government from funds that were due to Baha Mar for road construction works, we were able to keep these staff members on as long as we did. We know that they have obligations, that many of them gave up other jobs to join the Baha Mar dream team and now we are continuing to focus on how best to make that dream a reality.”

Management and staff who were made redundant are being offered assistance in development of CVs and resumes and in job-hunting. Staff members were retained to provide assistance in job skills development and life skills, with employment workshops scheduled to run October 29-31.

These actions do not affect the Melia Nassau Beach Resort.

The Cellular Liberalization Task Force has announced that Cable Bahamas Ltd is the successful applicant in the mobile spectrum auction, with a bid of $62.5 million.

Prime Minister Perry Christie opened the 9th Annual Exuma Business Outlook conference held at Sandals Emerald Bay last week. Read the address here.

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