Atlantis, the Country's most Important privately held
asset has for a second time been sold for pennies on the dollar. The Atlantis
Properties with a book and market value of more than two billion dollars has
been sold to Brookfield Assets a Canadian conglomerate for a fire sale price of
175 million in a debt for equity swap arrangement. This is the second time the
sale has occurred since November 2011. This time however, the only difference
according to details announced is that the parties have apparently reached a
deal with the other creditors who sued to stop the first sale. The Bahamas
government also announced in a televised press conference with Atlantis
management, that it had approved the deal with guarantees that the work force,
level of operational funding and investment will be maintained at current
levels. The deal being announced just prior to the General Elections has a ring
of political...