Baha Mar says talks underway related to resort construction, opening

By Caroline Salls

Pittsburgh, July 13 – Baha Mar Ltd. issued a statement Monday regarding discussions that are underway with “involved parties.”

“It is clear that we and our government in The Bahamas recognize the importance to The Bahamas of completing construction and successfully opening Baha Mar as soon as possible,” the company said in a news release.

“We at Baha Mar want this, have an urgency to reach an appropriate resolution, and look forward to participating in discussions this week in China.

“As the government of The Bahamas has made clear in communications with us, the discussions to achieve the resolution are directly between the private parties – Baha Mar; China State Construction, the general contractor and its affiliates, and the lender, the Export-Import Bank of China, with the Bahamian government volunteering to be neutral in this process.

“Since the discussions are between the private parties, and the sensitivity of their content is critical to being able to try to work toward a consensual resolution, Baha Mar plans not to make any public statements on the discussions as they occur and, if at all, until they are concluded.”

Baha Mar is a Nassau, Bahamas-based resort that filed for bankruptcy on June 29 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-11402.

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