New Category : Nassau Guardian Stories

UB urged to cancel LGBTQ panel talk

Mon, Oct 2nd 2023, 10:30 AM

The Bahamas Christian Council is up in arms over the University of The Bahamas' decision to host a Pride Week forum on the Oakes Field campus this week, claiming it is part of the "immoral indoctrination of our young people".

At a press conference at the campus yesterday, Christian Council President Bishop Delton Fernander said his group considers the event "an affront to our national values on the campus of a publicly funded institute of higher learning".

Fernander appealed to UB's board and acting president to cancel the event "by this special interest group and return the university back to the basic tenets of standard education and the decency of higher learning".

He noted that one version of a flier promoting the event was headed with the University of The Bahamas' logo.

It stated: "In celebration of the 4th Annual Pride Week the School of Social Sciences hosts Forward, Upward, Onward, Together, Road to Inclusion".

Fernander claimed another flier, which does not include the name UB or the School of Social Sciences, was released only after the Christian Council advised the media on Friday of its plans to hold a press conference on Sunday to address the matter.

Both fliers are trimmed at the top with a rainbow, which symbolizes LGBT pride.

"The Bahamas Christian Council, which represents Christian churches and its membership throughout the Commonwealth of The Bahamas, takes great exception to the decision by the university to allow a non-university special interest group with an expressed immoral agenda to stage what we deem as [an] event intended to attack the very moral tenets of our country as expressed in the preamble of our nation's constitution," Fernander said.

"The event is clearly promoting a so-called celebration of Pride Week, what we know to be a period set aside to promote and advance a homosexual agenda and the homosexual lifestyle. The flier also clearly features colors associated with the gay community and lists speakers identified as LGBTQ+ activists.

"It is our understanding the university was established as a place of learning, not a place for the immoral indoctrination of our young people with one-sided panel discussions. It is also our understanding that this event is not a UB event and it is also not part of a course offered by the university and is instead being hosted by a private group of special interest advancing a special agenda."

The university, however, showed no signs it intends to stop the event from taking place on the campus.

Asked for a response to the Christian Council's concerns yesterday, Allyson Maynard Gibson KC, who chairs the UB board, stated: "University of The Bahamas was established by University of The Bahamas Act 2016, which establishes a Board of Trustees ' ... which shall ... be free from undue influence from political, religious, or other external bodies and shall protect the institution from such influence.'

"The School of Social Sciences will host a forum entitled 'Black Bahamian Subject Formation: From Non-Subject to Subject Part II'.

"It is hoped that students and citizens will continue to engage with UB, the national tertiary institution, as it carries out its fiat, among other things, to encourage our students (and all Bahamians) to '... exercise critical thinking'.

"Forums such as this are the places where, as a part of UB's national development mandate, our national spirit will be enriched and developed, as people with differing views engage in civil discourse and our students and citizens develop a better understanding of different viewpoints."

But Fernander said at the press conference, "We do not believe that the university which is funded by our tax dollars should be the platform to advance a lifestyle and agenda that are in contradiction to our nation's constitution and the values, standards and morals of our country and its people.

"The University of The Bahamas was intended by its own charter and bylaws to be a safe space for higher learning and not a playground for an immoral homosexual agenda and LGBTQ activists.

"The bottom line is this event cannot be allowed to take place on university grounds so long as it's funded by Bahamian taxpayers' dollars, because it is in violation of the values and virtues of said taxpayers as outlined in the preamble of our nation's constitution.

"The facts appear to be that this is an outside special interest group with an immoral agenda that has been allowed access to the grounds, hearts and minds of our nation's university and students who attend."

Fernander said parents did not send their children to the University of The Bahamas to be "ambushed by a local homosexual special interest group, advancing a gay agenda disguised as one-sided educational discussion".

The event is set for Thursday at 4 p.m. to 6 p.m. at Michael Eldon Building, UB.

According to the flier, the keynote speaker will be Dr. Kreimild Saunders, assistant professor of sociology at UB.

There will be a welcome address by Dr. Richard Adderley, chair of Social Sciences.

The event's moderator is listed as Alexus D'Marco, pride coordinator and human rights defender.

Several panel members are also listed on the flier: Alicia Wallace, Tribune journalist and feminist activist; Erin Green, radio host and LGBTQ+ activist; and Helen Klonaris, adjunct UB professor of English Studies, novelist and LGBTQ+ activist.

Jones, Liberty advance to WNBA Finals

Mon, Oct 2nd 2023, 10:15 AM

UB stages Cross Country Invitational
UB stages Cross Country Invitational

Mon, Oct 2nd 2023, 10:03 AM

ArawakX CEO fires back
ArawakX CEO fires back

Mon, Oct 2nd 2023, 09:36 AM

African EXIM Bank capitalizes Bahamas Development Bank to the tune of $30M

African EXIM Bank capitalizes Bahamas Development Bank to the tune of $30M

Mon, Oct 2nd 2023, 09:26 AM

By the end of November, the Bahamas Development Bank (BDB) will be in a position to begin issuing money to businesses it has held in its funding pipeline thanks to a $30 million capitalization for the bank from the African Export-Import Bank, BDB Chairman Senator Quinton Lightbourne said Friday.

Lightbourne said there are several businesses in the pipeline that will be helped by this first capitalization of the bank in almost two decades.

"Today, I stand before you to address a momentous occasion in the history of The Bahamas, and at the Bahamas Development Bank, an institution that has played a pivotal role in the shaping of the economic landscape of our beloved nation," said Lightbourne.

"... We gather here to witness the historic transformation, a new day at the Bahamas Development Bank.

"It has been a long and arduous journey for the Bahamas Development Bank since the last capitalization approval in 2005."

He said the new management of the bank has "essentially rebuilt" the institution and brought best practices and policies to its operation and governance.

"The impact of this capital infusion will reverberate throughout our beautiful country, not just within New Providence," said Lightbourne.

"The Bahamas Development Bank is a development bank for the entire nation and we are committed to ensuring that every chance at every corner and every island within our archipelago that the benefits of this realization is revitalized.

"We are currently collaborating with partners to create real time opportunities for business growth, particularly focusing on Family Island development.

"We are dedicated to enhancing food security, by investing in smart cultural solutions, reducing our dependency on imports, and increasing our exports by expanding the value-added manufacturing sector.

"Moreover we aim to diversify and expand our tourism product through unforgettable experiences for our visitors."

According to Lightbourne, the bank will also continue with a strong focus on energy efficiency and renewable energy so as to remain aligned with the Progressive Liberal Party's Blueprint for Change, which he said is rooted in the UN's Sustainable Development Goals of 2030.

DIT employee under investigation for firearms possession, OPM says

DIT employee under investigation for firearms possession, OPM says

Mon, Oct 2nd 2023, 08:28 AM

The Office of the Prime Minister said on Friday it has been notified by the Royal Bahamas Police Force that an employee in the Department of Information and Technology at the office is currently under investigation concerning the alleged possession of firearms.

"We anticipate the Royal Bahamas Police Force will provide further updates at the appropriate time," OPM said.

It did not provide any further information.

The post DIT employee under investigation for firearms possession, OPM says appeared first on The Nassau Guardian.

The post DIT employee under investigation for firearms possession, OPM says appeared first on The Nassau Guardian.

QC head boy dies at 17 
QC head boy dies at 17 

Mon, Oct 2nd 2023, 08:19 AM

PE teacher accused of indecent assault 
PE teacher accused of indecent assault 

Mon, Oct 2nd 2023, 07:53 AM

Knowledge is power 
Knowledge is power 

Mon, Oct 2nd 2023, 07:38 AM

The Bahamas' insolvency regime

The Bahamas' insolvency regime

Mon, Oct 2nd 2023, 07:28 AM

Dear Editor,

The Tribune reported on September 29, 2023, that Attorney General Ryan Pinder, while addressing a financial conference, referred to The Bahamas' insolvency regime as "a joke."

He also noted that companies are leaving The Bahamas because of our outdated legislation regarding insolvencies.

The Bahamas' major legislation governing company insolvency and restructuring includes The Bahamas Companies (Winding up Amendment) Act, 2011, The Bahamas International Business Companies (Winding Up Amendment) Act, 2011, The Bahamas Insolvency Practitioners Rules, 2012, The Bahamas Companies Liquidation Rules, 2012 and The Bahamas Foreign Proceedings (International Cooperation) Liquidation Rules, 2016.

Additionally, we have still not seen fit to amend the Bankruptcy Act of 1870.

Many persons who practice as insolvency practitioners will support the attorney general's description of our proceedings.

The Bahamas describes itself as a "creditor friendly" jurisdiction, as do most of our competitors, including Bermuda, the British Virgin Islands, and Cayman Islands.

It is believed that most of our competitors deliberately keep the creditor-friendly identification to attract foreign business and protect foreign investors.

However, how much protection is provided by legislation formed in the early 1900s?

Pinder noted that to remain competitive, we should seek to urgently update our laws as they "instill no confidence in sophisticated structuring of companies on a commercial basis in The Bahamas."

There is some support for what the attorney general noted, especially regarding cross-border insolvency.

INSOL, an international body of insolvency and bankruptcy practitioners, and the Restructuring and Insolvency Specialist Association (Bahamas) (RISA) support the continuous development of insolvency regimes to reflect current business trends (although I am not a spokesperson for either organization).

INSOL recommends the adaptation of the UNCITRAL Model Laws for cross-border insolvency. These laws were adopted by the United Nations Commission on International Trade Laws in 1985 and amended in 2006.

In order to see the need for change, we need only look at the two most recent cases of cross-border insolvencies in The Bahamas.

These are the ongoing matters or FTX and the previous attempt of the previous owner of Baha Mar to seek redress in the USA under Chapter 11 bankruptcy protection.

The Bahamian government opposed the filing, but I think the opposition related more to how it was done than the procedure itself.

Indeed, many international companies seek redress under the US Bankruptcy Code because of the relief offered to debtors when a company is distressed.

Under our current laws, when a company is distressed, the remedy is to declare the company insolvent and appoint a provisional or permanent liquidator.

This is despite the possibility that all stakeholders may be better off if a company is allowed to restructure and, for example, seek additional financing.

This is allowed to some extent with the provisional liquidator if a "soft touch" approach is used, but the debtor cannot remain in control of the assets.

This is the most significant benefit of seeking protection under a US Bankruptcy Code or the UK's Scheme of Arrangements under Part 26 Companies Act 2006.

Traditionally in the UK, four stand-alone options were available to distressed companies seeking to restructure debt.

These include a contractual workout, a Company Voluntary Arrangement (CVA), a scheme of the arrangement, and administration.

There are advantages and disadvantages to each of these options. Additionally, combining these options is common to maximize several advantages.

Notably, the UK and the USA (through Chapter 15 in the Bankruptcy Code) have adopted the key elements of UNCITRAL model laws.

Both the USA and the UK present insolvency infrastructure that facilitates cross-border insolvencies.

Indeed, both jurisdictions have had numerous international cases that allow global companies with worldwide assets to be litigated.

When seeking an appropriate jurisdiction for cross-border insolvencies, insolvency practitioners and governments seeking to strengthen their insolvency regimes should be aware of the laws and options available in the insolvency jurisdiction and how they may serve the various stakeholders.

The USA and UK bankruptcy proceedings have developed below the political horizon over time. In both jurisdictions, professional practitioners contributed to the development of insolvency proceedings.

Practitioners in countries currently reviewing their insolvency proceedings should follow and choose the jurisdiction that offers the type of relief sought and the benefits of litigating in either country.

Pinder said, "We need to lead from the front and be innovative."

As an insolvency practitioner in The Bahamas, at our practice at HLB Bahamas, we look forward to and would welcome a revamping of our insolvency regime to reflect the 21st century.

Most large companies are global, and our laws are too restrictive.

The allowance for restructuring under the auspices of the courts would be a welcome addition and a standstill agreement (an agreement to halt unsecured creditors actions) that allows a distressed company breathing room to seek new finance, new management, sell unproductive assets, and cancel unprofitable contracts.

Forming specialist bankruptcy courts alongside the Supreme Court controlled by judges with prior experience in bankruptcy proceedings would also go a long way in developing our jurisdiction to enable the development of an insolvency regime attractive to large companies seeking to litigate outside of the USA or the UK.

These changes may allow us to jump ahead of the competition, as noted by our attorney general.

Yours sincerely,


— John S. Bain

The post The Bahamas' insolvency regime appeared first on The Nassau Guardian.

The post The Bahamas' insolvency regime appeared first on The Nassau Guardian.

Concerned over UB hosting Pride Week event 
Concerned over UB hosting Pride Week event 

Mon, Oct 2nd 2023, 07:22 AM

Obediah Hercules Wilchcombe
Obediah Hercules Wilchcombe

Mon, Oct 2nd 2023, 07:08 AM

Obediah Hercules Wilchcombe
Obediah Hercules Wilchcombe

Fri, Sep 29th 2023, 09:40 PM

RODNEY "EAGLE" ALVIN GREEN
RODNEY "EAGLE" ALVIN GREEN

Fri, Sep 29th 2023, 04:54 PM