Sustainable Nassau presentation with the Rt. Hon. Perry Christie. (Photo: Peter Ramsey)

Marathon MP Jerome Fitzgerald yesterday said as early as Monday, additional details regarding the agreement signed by the government and the Export-Import Bank of China (CEXIM) that will see to the completion, sale and opening of the stalled $3.5 billion resort Baha Mar project, will be released to the public.

Fitzgerald was one of the government's lead negotiators involved in Baha Mar remobilization talks.

"Over the next couple of days we will outline how it is to proceed," Fitzgerald said while a guest on Guardian Radio 96.9 FM's Let's Talk Live with host Carlton Smith. "We will do that.

"By Monday, you will begin to start to hear the process by which we will address these issues and how the claims will be satisfied.

"So that is coming, but no one even wants to give you a chance.

"We had two hours to present and now we're going through the process of letting the public, and particularly the creditors, know.

"... We've met with some of them since then to go over the process, but we will detail it for the public by Monday."
Many have criticized the government for not revealing adequate details about the agreement.

After it was revealed that the government and CEXIM asked the Supreme Court seal the documents relating to the agreement preventing public access to the deal, critics have even suggested that the Christie Adminstration has something to hide.

Fitzgerald said rather than speculating that the government sold land, islands or gave away citizenships, people should await the details from the government.

"Even if there is an information gap, you cannot fill the information gap with things that defy logic," he said.
"You cannot accept that to be reasonable.

"...We have a most favored nations clause with Atlantis.

"There is no conceivable way in which that a government would negotiate concessions with another developer in excess of what Atlantis gets; none.

"They cannot get in excess.

"...My point to you is that at the end of the day, governments are restrained by law and by agreements they have entered into.

"Those two key factors, most favored nations and the Hotels Encouragement Act, should show you that these are the restraints in which a government can go.

"So we are not going to negotiate anything beyond that."

Fitzgerald charged naysayers to focus on the positive things that came out of Monday's announcement.

He highlighted that Prime Minister Perry Christie did what was considered "impossible" to many.

"At the end of the day, we are satisfied that those unsecured creditors, the government was able to protect them...," he said.

"As Peter Whitehead [of Gunite Pools] said it correctly...what the government did was what could be considered an impossibility.

"Now what he meant by that for those who understand is that all of them appreciated that legally, they were going to get nothing if only the law was upheld and that if it were not for the government and it were not for the prime minister 's insistence throughout that some arrangement had to be made.

"...He stated those arrangements and what was satisfying is the fact that he said employees would be paid in full what is outstanding to them, the leases all protected over the same terms and conditions, that was a big issue.

"That was a big concern for them. Tens of millions of dollars they thought they had lost.

"[For] the unsecured creditors, much of what they were entitled to, and in many cases most, will be retrieved.

"They will get tremendous amounts out of nothing."

On Monday, Christie said parts of the resort will be opened before the end of the 2016/2017 winter season, and ultimately the entire project will be sold to a hotel and casino operator.

But Christie did not reveal any details on who the potential buyer is.

Although he acknowledged concessions were made, Christie did not provide specifics.

Christie has acknowledged that the public will have many questions on the details of what has been agreed.

He said on Monday that in the coming days the government will make available "all of the key items of information" to the public.

He added that there was a lot of paperwork still to be completed to implement the agreement, but did not provide specifics.

Dr. Ian Bethell-Bennett

Click here to read more at The Nassau Guardian