Bahamas Attorney General and Minister of Legal Affairs Carl Bethel says the Minnis government is fully committed to ensuring the success of Baha Mar and is pushing forward with agreements implemented by the former Christie administration.
Bethel’s comments follow a scathing assessment by Sarkis Izmirlian, CEO of original Baha Mar developer BMD Holdings Ltd, of the Heads of Terms offered to stakeholders China EXIM Bank and China State Construction regarding the property’s sale to Chow Tai Fook late last year, with Izmirlian calling for a moratorium.
But Mr Bethel said it was not in the best interests of the local community to put the opening of Baha Mar on hold yet again after years of delays.
“Even though we may disapprove of the way certain legal and others matters were handled in respect to Baha Mar, as a responsible government we will do everything to facilitate the completion, sale and opening of the resort to the full measure of its potential economic benefits can be released for the Bahamian people,” he told the Senate.
Mr Bethel added that he was opposed to further documents being made available to the public, with Izmirlian’s attack coming after the Heads of Terms was released in full last week.
“We are cognizant that there are other commercially sensitive documents which were sealed at the request of the private parties of the Baha Mar matter and which remain sealed pursuant to the court’s order,” he said. “After careful review and discussion with the other parties, we are of the view that those documents should remain sealed for the time being for the legal reasons which have been given by the judge.”
Baha Mar President Graeme Davis also released a statement in which he defended the property’s new owners, Chow Tai Fook, after Izmirlian called for the government to, “Reopen the casino license investigation and report the findings of the Gaming Board given the extensive, disturbing public record about the potentially extensive criminal associations of Chow Tai Fook’s owners.”
Mr Davis said, “Baha Mar and its parent company, CTFE, are extremely pleased with the government’s commitment to fully support our continued efforts in the completion and successful operations for the future of Baha Mar, and realize the full measure of its economic benefits to be released for the Bahamian people.
“The Cheng family and CTFE are recognized throughout the world as visionary business leaders and we are extremely excited about next phases for Baha Mar’s continued growth.”
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