Provisional liquidator for Baha Mar Edmund Rahming of KRyS Global has dismissed assertions that China Construction America (CCA) demanded – and received – half a million dollars just to return to the Baha Mar premises to conduct an assessment of the property.
According to Rahming, “this is false”.
Sources have insisted that the contractor was paid the $500,000 just to “set foot” on the property to do an assessment, which CCA Senior Vice President Daniel Liu told Guardian Business would take as long as it took to be thorough, and would yield a timetable and a cost estimate to finish the Baha Mar development.
Rahming denied that the half million has been paid. Guardian Business queried how – and to what extent – CCA is being compensated to do its assessment of the property, and further, who is paying for it and why it was not disclosed in the joint provisional liquidator press release.
Said Rahming, “It is currently at no cost to the provisional liquidators.”
He also addressed the implication by Liu, who gave the impression that CCA is ready at an instant to move forward and complete the resort, and that the only holdup would be the liquidators.
“A part of our court mandate is to facilitate the parties in reaching a compromise so that the project can be completed. The court has given us eight weeks to assist the parties in this regard. This speaks for itself,” Rahming said.
Meanwhile, the liquidators have issued a communique addressing concerns raised by vendors, including those who supply goods and services to the companies in liquidation, those who are owed monies by them and those whose goods are held by the companies and wish to reclaim their goods.
The joint provisional liquidators (JPLs) stressed their intention that the provisional liquidation process would not impact day-to-day operations at Meliá Nassau Beach resort or its guests, with business continuing as usual.
“Suppliers to the Meliá Nassau Beach hotel should therefore continue to submit purchase orders and invoices in the usual way.
“If you are a supplier to the remaining companies other than Meliá Nassau Beach hotel, please note that the provisional liquidators are not adopting contracts entered into by the companies prior to the provisional liquidators’ appointment, and you should obtain our agreement that undelivered goods or services ordered before the appointment are still required before you deliver them.
“If goods which were ordered prior to the provisional liquidators’ appointment are still required, or if there are services which are still required, the provisional liquidators’ team will contact you directly to request the delivery of the goods or the continuation of the services. All purchase orders going forward should be signed and approved by the provisional liquidators,” the letter said.
For those vendors owed money by the companies aside from the Meliá Nassau Beach hotel, the JPLs note that the claims of all unsecured creditors have been stayed while a compromise is sought on a way forward that will enable the Baha Mar project to be completed and opened as soon as possible.
“It is not within the powers of the provisional liquidators to agree to the claims of unsecured creditors and make distributions to them. However, if you wish to submit details of a claim for amounts owed prior to our appointment please send details to Bahamar@krys-global.com.
“And vendors who want their goods back have been directed to contact the head of security at Baha Mar Tony Whiddon who will liaise with the provisional liquidators’ team in order to assess those claims.
“No property of the companies may be removed without the express written permission of the provisional liquidators. Any removal of property without the written consent of the provisional liquidators will be treated as theft and the appropriate authorities will be notified,” the letter said.
Click here to read more at The Nassau Guardian
