Today’s action by the government to hinder the developers of Baha Mar from being able to pay their staff and continue operating the property as they sort out Chapter 11 bankruptcy proceedings is an outrageous turn of events that smacks of corruption at the highest levels of this country. The Prime Minister initially said that his government would not take sides in this matter, a statement that in and of itself is alarming. But now it is clear that the government has sided and is siding with Chinese principals in this matter, by partnering with Chinese principals to ask our Supreme Court to delay a ruling that would enable Baha Mar to continue operations and pay staff. THE BAHAMAS GOVERNMENT HAS PARTNERED WITH A FOREIGN COUNTRY TO MAKE MOVES AGAINST BAHAMIANS. By making the move the government has made today, it has the potential of forcing Baha Mar to layoff its staff, and then the government – who would have caused the layoffs in the first place – would then come with taxpayer dollars to give the workers some money so as to make themselves look like heroes in a situation THEY CREATED. There are few if any decent words to describe what we are seeing take place in this country right now.
What role and to what extent has the government’s refusal to fully live up to its financial obligation in the Baha Mar Heads of Agreement, played in the progress or lack thereof on the much-anticipated mega resort? A deal is a deal, business is business and a signed Heads of Agreement is exactly that, a signed agreement between government and investor. The government borrowed monies MORE THAN ONCE to meet its over $47 million contractual obligation to Baha Mar, and as far as we know, that obligation has yet to be paid in full after over a year. If the government is refusing to act as good faith partners with an investor, are we supposed to be so naive as to think such a thing would have no repercussions of significance? Back in March of this year, DPM Brave Davis was quoted in the media as saying negotiations over what the government owed Baha Mar were “troubling.” The Resort’s Senior Executive was later quoted as saying the government had not made any payments on the outstanding balance of its obligation “for over a year”, but that he hoped negotiations would be resolved by the end of this summer. Continue reading