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January 19, 2012
Businesses voice their concerns about failed deal between Kerzner, Brookfield
Amidst looming uncertainty about the fate of Atlantis and the One&Only Ocean Club, several Bahamian businesses voiced their concerns on the situation.
"We are concerned and we are watching it, definitely," said Linda Lam, co-owner and co-manager of Mike's Chinese Custom Tailoring.
Mike's has supplied Atlantis with uniforms and other related services for over 10 years, Lam said.
"We do quite a bit ...
Political spat over Atlantis
January 19, 2012
Political spat over Atlantis
Prime Minister Hubert Ingraham and Opposition leader Perry Christie yesterday traded insults and blame over Kerzner International's debt crisis, which has put the future of Atlantis resort on Paradise Island into question.
The comments came a day after news broke that Brookfield Asset Management, the Canadian conglomerate that sought to take over Kerzner's Bahamian and Mexican holdings in a $175 m...
Atlantis hangs in balance amid investor squabble
January 16, 2012
Atlantis hangs in balance amid investor squabble
A complex series of events played out behind the scenes in the weeks after Sir Sol Kerzner announced in November the debt-saddled Kerzner International was transferring ownership of its Paradise Island properties to one of its creditors, Brookfield Asset Management, according to a complaint filed recently in a U.S. court by a group of other lenders.
The complaint reveals that Kerzner International...
Atlantis owners to refinance debt
January 12, 2012
Atlantis owners to refinance debt
The arrangements associated with the takeover of Kerzner International's Paradise Island properties call for the new owners to refinance Kerzner's $2.1 billion loan within the next two years, The Nassau Guardian has confirmed. Kerzner's failure to make payments relative to the loan prompted one of its lenders, Brookfield Asset Management, to take over Atlantis, the One&Only Ocean Club on Paradise ...
January 11, 2012
Public Servant Should be Cautious About Salary Advance to Invest in APD
Dear Editor,
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Public servants are asked to treat with the greatest caution the recommendation from the prime minister to borrow money to invest in the Arawak Cay Port Development.
January 11, 2012
PLP Suggests Govt Hiding Worrying Details of Atlantis Agreement
Progressive Liberal Party (PLP) Deputy Leader Philip Brave Davis yesterday questioned whether the government has not made public any formal agreement between Kerzner International and the new Atlantis owner because the details would be worrying to workers on Paradise Island and the Bahamian public at large.
Davis Wants Atlantis Ownership Deal Made Public
December 08, 2011
Davis Wants Atlantis Ownership Deal Made Public
Deputy Leader of the Progressive Liberal Party (PLP) Philip Brave Davis yesterday called on the government to make public the agreements signed between Kerzner International and Brookfield, to put to rest the opposition's concerns of possible layoffs at the Atlantis Resort.
Video: New Owners For Atlantis
November 30, 2011
Video: New Owners For Atlantis
SOL Kerzner confirmed yesterday that the Kerzner group intends to transfer ownership of the Atlantis Resort to Canadian asset management company, Brookfield.
Regional Stories To Bring It At BIFF
November 30, 2011
Regional Stories To Bring It At BIFF
STORIES of the region will be told in three films, all by Caribbean filmmakers featured in the Bahamas International Film Festival 2011.
Alicart 'open to more concepts' at Atlantis
November 03, 2011
Alicart 'open to more concepts' at Atlantis
With millions in investment and hundreds of employees, the rela- tionship between Atlantis and The Alicart Restaurant Group now represents an integral driver in the New Providence economy and there is reason to believe it could get even bigger.
Virgil's, the $10 million restaurant, held its grand opening this week amid great hopes and expec- tations. Boasting around 470 seats, it joins Carmines as...
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