Dr. Hubert Minnis

Free National Movement (FNM) Leader Dr. Hubert Minnis said yesterday the Official Opposition and the entire Bahamas would be more than happy to see Baha Mar open because of what the project represents to Bahamians and the country's economy.

But Minnis said his optimism is hinged on whether the government can be trusted, noting that details of the agreement Prime Minister Perry Christie announced on Monday night between the government and the Export-Import Bank of China (CEXIM) to get Baha Mar open and completed, were largely absent.

"Nobody trusts the prime minister," Minnis said. "I certainly don't. The FNM doesn't and the people don't. He has made many promises and never delivered."

Christie said under the deal, Baha Mar will be completed, sold and opened before the "end of the 2016/2017 winter season".
CEXIM is providing the capital to complete the project, Christie said.

Christie also said former employees and unsecured creditors will be paid "a significant part, and possibly all" of the outstanding money owed to them.

According to Christie, China Construction will resume construction on the site in September.

The company will also resolve outstanding claims with its suppliers and subcontractors, Christie said.

Minnis called on the government to make known what was given to Chinese investors.

Speaking to the concessions to facilitate the deal on Monday night, Christie said, "As it has been done with all major investments, the government will extend the appropriate concessions to facilitate the construction and promote the successful future operation of the resort.

"The completed project will then be sold to a qualified world-class operator."

Heralding the deal as a "signal achievement for The Bahamas", Christie said under Baha Mar developer Sarkis Izmirlian's chapter 11 bankruptcy efforts, "our people had little prospect of being paid anything".

Minnis was a proponent of allowing the developer to proceed with the chapter 11 in the U.S. over the government's countermove to wind-up the project in local courts.

Baha Mar was eventually put into provisional liquidation and later went into receivership.

All of the Chapter 11 cases have since been dismissed.

Minnis said if an FNM government learns of any element of the deal that does not serve the interest of the Bahamian people, "it has to be dealt with appropriately".

He said an FNM government will do what is in the best interest of the Bahamian people.

"And one wonders whether they had brought the Baha Mar release at this time so as to deflect away from Moody's downgrade and its impact on our economy," Minnis added.

Royston Jones Jr., Guardian Staff Reporter

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