THE $300 million expansion of Freeport Container Port could result in as many as 600 jobs in Grand Bahama, Prime Minister Perry Christie has revealed.

PDS gaming, the international gaming firm currently embroiled in a legal battle with Baha Mar over $16 million of casino equipment, yesterday announced that it will "reluctantly" accept Baha Mar's 90-day timeline to determine whether it would honor or reject its lease with PDS - provided that Baha Mar amend its budget to provide for "timely" post-petition lease payments from and after the petition date on August 28.

Although court documents filed yesterday in Delaware's bankruptcy court reveal that PDS did not agree that a timeframe of 90 days is necessary for Baha Mar to make its decision, PDS stated that the debtors' indication that it would determine whether to assume or reject PDS' master lease and two lease schedules within 90 days is a "good starting point", as PDS hopes for a swift opening of the $3.5 billion resort. Absent the protections of post-petition payment and modification to the budget, PDS cannot be protected while the debtors make their determination of whether to assume or reject the master lease and lease schedules - a determination that PDS submits essentially is a foregone conclusion if the debtors intend, as they say, to complete the project as soon as possible.

"The court should therefore disregard the debtors' rhetoric and focus on the issue at hand: protecting PDS and its valuable equipment and operational system from post-petition default and subordination to debtor-in-possession (DIP) financing accorded a superpriority administrative expense in the amount of $80 million," read the court documents.

PDS argued that Baha Mar's opposition to PDS' earlier bid to have the court force Baha Mar to make its decision on the lease was "long in rhetoric and broad generalizations, but short on specific facts".

The company argued that Baha Mar's budget extended well beyond the first five weeks of the case, making future provisions for monthly lease payments to PDS more difficult to attain. The debtors' current budget runs through April 1, 2016. However, Baha Mar earlier conceded that the line items budgeted in the development's $80 million DIP financing did not include lease payments to PDS. Furthermore, the budget cannot be changed without the consent of the DIP lender. PDS' reply noted that the debtors have yet to modify the budget to provide for the lease payments, which Baha Mar's counsel conceded are required to be paid starting 60 days after the commencement of the case.

"The fact of the matter is that every missed post-petition payment is subordinated to the superpriority administrative expense afforded the DIP lender up to $80 million. The debtors do not and cannot refute this fact." In sum, PDS maintains that the debtors must remain current post-petition if they wish to retain and enjoy the equipment. PDS therefore requests that the debtors be ordered to make lease payments from and after the petition date while they consider whether to assume or reject the lease and that the budget should be modified accordingly," reads the reply.

Nevada-based PDS earlier asked the U.S. Bankruptcy Court in Delaware to force Baha Mar to accept a $16 million master lease and two accompanying lease schedules or terminate its lease agreement and allow the gaming company to reclaim over 1,000 pieces of gaming equipment on lease to the resort. PDS had previously argued in its initial filing earlier this month that Baha Mar defaulted on the equipment's master lease by failing to pay just over $700,000 in interim and basic rent. PDS held that Baha Mar had ceased making any payments following its Chapter 11 bankruptcy filing on June 29, 2015 and feared that it would bear the risk, given Baha Mar's apparent lack of provisions to pay PDS under its DIP financing.

PDS Chief Financial Officer Peter Cleary earlier stated in court filings that PDS' first lease schedule required Baha Mar to pay interim rent of just over $59,000 monthly from March to May 2015, after which basic rent would increase to nearly $170,000 for four years. The second lease schedule began in March 2015 with interim rent of $105,542 from April to June 2015, after which it would increase to $172,221 for the remaining 48 months.

The Nassau Rowing Club (NRC) will take a major stride toward the local development of the sport as it prepares for some of its members to engage in international competition next month.

For the first time, The Bahamas will be represented at the World Rowing Junior Championships, the highest international representation in rowing to-date for the country. The event is set for August 5-9 at the Rodrigo de Freitas Lagoon in Rio de Janeiro, Brazil, which will also serve as the rowing venue for the 2016 Summer Olympics and Paralympics.

Lex Fountain and William Stanhope, both 17, along with Head Coach and President of the NRC Kyle Chea, have been preparing for the competition for the past several months, holding training sessions six times per week at Lake Cunningham. Fountain has been rowing for two years. He competed in the Pan American Sports Festival last year, and Stanhope has been rowing for just under six months and is presently a part of the Dublin School’s rowing team in Keene, New Hampshire.

“We are really excited to have such a talented group rowing for us. These guys are on the water with me every morning at 5:30 a.m. and again in the afternoon. The only rest day they get is Sunday,” said Chea, who was the men’s rowing captain at Vassar College back in 2010.

“When it comes to the sport of rowing in the country, I think it’s all about awareness. Even at the college and university level, we were on the water before anyone else was awake, so by the time everyone is dragging into the dining hall, you’ve already had your workout for the day. It’s a lot that goes into it, but there’s also a lot of things that people don’t get to see.”

To assist with their preparation, Chea brought in veteran coach Anthony Chacon to work on some techniques with the two young rowers. Chacon, who is based in Los Angeles, has coached at several prominent clubs in Chicago, including the Chicago Rowing Union, the University of Chicago and the Lincoln Park Boat Club.

“Lex and Will represent the best qualities of rowing. They come together so well and do what needs to be done to get faster, not only for each other, but for The Bahamas,” said Chacon. “Their positive attitude is the kind of material that collegiate coaches want in a rower. There is no limit to where the right mentality can take them. I look forward to seeing them in the Olympics one day.”

Both young athletes consider it a privilege to be a part of the team representing The Bahamas at this event for the first time. They said that they’re relying on their tough training to help them get through the competition.

Fountain said: “It’s very nice that we can be the first ones to do something like this, because someone has to make a path for the sport of rowing here in The Bahamas. Every time we do something, we’re going to be the first, so it’s always good when you can be a part of history.”

Stanhope added: “This will be good to let the people know that there is rowing in The Bahamas. Most of the time I tell people that I’m going away for a rowing competition, the first thing they think of is a bigger rubber raft and not the skinny little boats, so something like this is a great thing to raise the awareness of the sport in the country. We’re confident in our training, and I think once we stick to it, we can do well.”

Following this competition, both athletes look to compete at the Head of the Charles Regatta, the world’s largest rowing regatta, to be held in Boston, Massachusetts, in October.

The team sends special thanks to the Bahamas Olympic Committee (BOC), Sir Durward Knowles, the Bahamas Medical Center and FISA (International Rowing Federation). FISA is the global body that governs international rowing.

For more information on the team travelling and the sport of rowing as a whole in The Bahamas, interested persons are asked to visit the NRC’s Facebook page or to send an e-mail to NassauRowingClub@gmail.com.

Baha Mar yesterday appealed to the government to pay its non-Bahamian employees today, saying its decision not to pay them is damaging and short-sighted.

In a memo to Baha Mar staff, Magdalena Hamya, vice president of human resources, said despite Baha Mar’s efforts, the government is refusing to pay the salaries due today to the non-Bahamian employees.

“We are shocked and extremely upset by this action and we have urgently appealed to the government to reverse its damaging and short-sighted decision,” read the memo. “As you may recall, earlier this month the attorney general expressly stated that the government would cover Baha Mar’s total payroll of $7.5 million, which includes the salaries of our non-Bahamian employees.”

Baha Mar filed for bankruptcy protection in the United States on June 29.

That same day it sent the majority of its 2,400 workforce home indefinitely.

The government said it decided to fund Baha Mar’s payroll for July to prevent the developer from using the workers as “pawns” during negotiations surrounding the future of the project.

The government is paying Baha Mar’s Bahamian workers today.

Baha Mar said the government’s refusal to fund the payroll of foreign staff is especially unfair because the company attempted to make arrangements to pay its workers, Bahamian and non-Bahamian, through its Chapter 11 proceedings.

Supreme Court Justice Ian Winder rejected Baha Mar’s application to have the U.S. court orders recognized in The Bahamas last week.

“[Baha Mar CEO Sarkis Izmirlian] remains ready and willing to make funds available needed for the payments of your salaries, but he is regrettably unable to do so as a result of the government’s actions,” read the memo.

“The unfairness of the government’s refusal is underscored by the fact that the government has already processed two payroll cycles for our Bahamian citizens and requested details required to process the third cycle.

“At a time when we have worked tirelessly toward a consensual resolution, it is disheartening that the government has chosen this course of action with full knowledge of the critical role you play in ensuring that our resort is well positioned for a successful opening.”

Baha Mar said the government has sent a terrible message to its non-Bahamian employees. Speaking to the non-Bahamian workers, the memo said, “We acknowledge the irony that you came to The Bahamas based on the government’s stringent review of your qualifications in granting you a work permit.”

The memo continued, “We are upset at how the government’s position is completely contradictory to our culture and values to care deeply and to thrive as part of the team, no matter where individual citizens come from.

“We cannot adequately express how deeply sorry we are for this situation, even if it is not of our making.

“It is very distressing for us to contemplate that the government of The Bahamas finds it acceptable to leave you without salaries that you have already earned.

“We have vigorously responded to government’s decision and urged them to reconsider and make immediate arrangements to have your salaries paid.”

Baha Mar said no employee’s status has changed.

The company added that it will not rest in finding a swift resolution to compensate its foreign workforce.