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Baha Mar liquidators positive on stakeholder talks

The joint provisional liquidators to the BahaMar resort development, KryS Global and AlixPartners, said this week that they have held constructive all party talks with the development's key stakeholder groups. 

Tuesday, October 13, 2015
Tuesday, October 13, 2015

www.alixpartners.com www.krys-global.comEdmund Rahming of KryS Global and Alastair Beveridge and Nick Cropper of AlixPartners, the joint provisional liquidators (JPLs) to the BahaMar resort development, this week held constructive all party talks with the development’s key stakeholder groups.

Chaired by the JPLs the talks brought together representatives from the government of The Bahamas, financial sponsors Export-Import Bank of China, construction company CCA Bahamas Ltd and parent company, China State Construction Engineering Corp Ltd, and the resort’s founder and investor, Sarkis Izmirlian.

Commenting on this week’s talks on behalf of the JPLs Alastair Beveridge said:

“The talks this week are another important step on the road to resolution. We would like to thank all parties for their good faith participation in and constructive approach during the meetings. Whilst there is still work to be done, it is clear that all involved are focused on quickly reaching a viable solution to ensure that the Baha Mar resort is able to open for business for the benefit of all stakeholders, including the Bahamian people. We will continue to work with all stakeholders as we explore the best route forward and will issue further updates as talks continue.”

The second Monday in October is now observed as National Heroes Day, to honour figures in Bahamian history that have helped shape the nation and improve its fortunes.

Speaking at an industry seminar yesterday, Financial Services Minister Hope Strachan (pictured) said that the government was committed to making The Bahamas an international centre for arbitration. Read her remarks here.

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