Beginning tomorrow, hundreds of creditors owed by Baha Mar are hoping to collect checks over the next three days for work performed over a year ago at the stalled $3.5 billion megaresort. Meanwhile, Opposition Leader Dr. Hubert Minnis has questioned the fate of those creditors and contractors owed by China Construction America (CCA).
"The only creditors and contractors that will be paid in the upcoming 'take it or leave it' payment debacle are those owed money by Baha Mar Ltd., not anyone owed by CCA.
"Not only are those owed by Baha Mar Ltd. being told they must sign an undisclosed agreement, but they must take whatever is offered to them, no matter the amount, or they risk not receiving anything," he said.
Minnis argued that Prime Minister Perry Christie guaranteed that Bahamian contractors and creditors would be paid when he announced that the government and the Export-Import Bank of China (CEXIM) signed an agreement to complete and sell Baha Mar to a world-class hotel and casino operator.
Minnis called on Christie to release the Supreme Court sealed documents relating to the agreement the parties signed.
"Once again we continue to find out more reasons why the embattled prime minister should release all the documents related to the secret Baha Mar deal he struck with the Chinese," he said.
He also pointed out that even creditors owed by Baha Mar have to follow strict procedures to receive payments.
A claims committee of five members was set up to process all payments. Funds were deposited in a Bahamian bank last week by CEXIM to pay creditors owed by Baha Mar Ltd. and its affiliates.
"These creditors and contractors have been waiting a year to get paid what is owed to them after being abruptly laid off and now they just have to hope that the claims committee takes pity on them and pays them all they are owed," said Minnis.
But, Minnis said creditors and contractors owed by Baha Mar are the "lucky ones".
"After promising that he took care of all Bahamian contractors in his secret deal, details of which he refused to release, we find out that the prime minister only made sure that one group of former workers got paid some of what they are owed.
"Those that were subcontractors of CCA are not guaranteed any money, and CCA is proving that they will fight any effort by the contractors to get paid.
"It is absurd that these contractors could not have been part of the secret deal since the Chinese are already paying some of the contractors," said Minnis.
Xian Smith, Guardian Business Reporter
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