Connect with us

Uncategorized

Statement on Baha Mar Proceedings

Published

on

Nassau, 02 Jul 2015 – On Monday 29 June 2015, Baha Mar Ltd. and 14 affiliated companies involved in the Baha Mar Resort filed for Chapter 11 Bankruptcy in the Courts of Delaware, U.S.A. Baha Mar did this without prior notice to the Government of the Commonwealth of The Bahamas and related entities. And, we are advised that no advance notice was given to the China Export Import Bank (“EXIM Bank”), the China State Construction Company and numerous Bahamian employees and contractors.

Fourteen of the affiliated companies are incorporated and doing business in The Bahamas. They own, operate and have an interest in Bahamian assets and businesses, including much of the land comprising the Baha Mar resort.

As the public is aware, the Prime Minister, for the past several months and as recently as 26 June 2015, has been negotiating and communicating with the Developer and the EXIM Bank to ensure sufficient funding to enable the opening of the resort at the earliest possible opportunity.

The Government at all times will continue to act in the best interest of the Bahamian people. The successful completion and opening of Baha Mar is in the national interest and is a matter of national priority.

Of particular importance is that the nearly 2,400 Bahamian employees who have been prejudiced by this bankruptcy proceeding must be paid. Paying the employees without conditions attached would allow negotiation, hearing and resolution of other critically important issues determinative of the future of this project.

To this end, the Office of the Attorney General, on behalf of the Government of The Bahamas, yesterday wrote to the Developer of Baha Mar advising that it is the position of the Government that the Developer should pay the Bahamian employees. They should not be used as pawns in negotiations about the future of the project. The Developer was also advised that in the event that Baha Mar or the EXIM Bank was unable or unwilling to pay the workers, the Government will step in and make the payment for this month while negotiations continue.

The court documents in this matter were obtained by the Office of the Attorney General only yesterday, 1st July 2015. The team at the Office of the Attorney General and our international lawyers are carefully considering these documents and the issues that they raise. We are advised that the EXIM Bank, the Project’s largest creditor, has not been served with the documents.

The Government and the EXIM Bank today, believing that the Bahamian Supreme Court should hear from all parties with an interest in this matter, asked the Supreme Court to adjourn the Developer’s application for the Bahamian courts to recognize the Orders of the Delaware court. The Supreme Court ordered that the matter be adjourned to Tuesday 6th July 2015 at 10am; that the Attorney General and EXIM Bank be joined as Respondents; and that Baha Mar give the Attorney General the employee payment details so that the employees may be paid. The Hotel Corporation of The Bahamas stands ready to make the payments.

It is important that the public be made aware that the orders obtained unilaterally by the Baha Mar entities from the United States Bankruptcy Court in Delaware were obtained on the basis that matters profoundly affecting the Government and people of The Bahamas will be subject to adjudication in the United States. This would have serious and far-reaching implications for the Commonwealth of The Bahamas as a sovereign nation.

Completion and opening of the Baha Mar resort are matters of paramount importance to The Bahamas. The Government feels very strongly that resolution of the disputes that have delayed the project should occur in the Bahamas, subject to adjudication (to the extent that they cannot be resolved consensually) by Bahamian courts, consistent with the sovereignty of The Bahamas. The Office of the Attorney General and the Government’s international lawyers are therefore examining options that will ensure that the courts of The Bahamas are front and centre in this matter. This would not preclude ancillary orders being sought from foreign courts should such orders be needed – but as a matter of high constitutional principle and in the interests of national sovereignty, it cannot be the other way around.

The Government will continue to keep Bahamians advised of steps taken in this matter. Today for example, the Government has instructed the Department of Information Technology to provide the means by which there will be access to the publicly available court documents in this matter and briefings on court proceedings as and when they occur. This information will be housed on the website of the Office of the Attorney General.

In closing, I cannot say this strongly enough: the Government, led by the Prime Minister, will continue to do everything possible both through negotiations and lawful means to achieve the earliest possible completion of the project and its successful opening, in the national interest.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

Uncategorized

RTCIPF Observes World Down Syndrome Day

Published

on

On March 21st, 2024, the Royal Turks and Caicos Islands Police Force joined the international, regional and local communities in observing World Down Syndrome Day. 

Officers showed their support by wearing brightly coloured and mismatched socks to raise awareness. 

The head of the Safeguarding and Public Protection Unit, Assistant Superintendent of Police Grantley Williams, Training Manager Mrs Odessa Forbes and Media Relations Officer Denyse Renne visited the SNAP Centre and interacted with the students.

In a message to the TCI community, the RTCIPF noted that stereotypes perpetuate stigma and hinder inclusion, preventing individuals from reaching their full potential. 

Instead, the RTCIPF calls for individuals to foster an environment of acceptance and support where everyone is valued for who they are. 

By breaking down barriers and challenging misconceptions, we can create a more inclusive society where individuals with Down Syndrome are empowered to live fulfilling lives and contribute meaningfully to their communities and, by extension, the TCI. 

As law enforcement officers, we must protect and serve all members of society, regardless of their abilities. 

Let’s work together to ensure that individuals with Down Syndrome are treated with dignity and respect and that their rights are upheld.

Continue Reading

Uncategorized

CARICOM speaks out on Climate Change, looking to May meeting to amplify call for Climate Funding

Published

on

March 3, 2024

 

The Caribbean Community (CARICOM) remains on the frontlines of global climate crisis, an issue the Region has been aggressively advocating on for the past thirty years. Despite the many commitments and promises of international partners, the window of opportunity to limit global warming to 1.5 degrees Celsius above pre-industrial levels is rapidly closing.

Heads of Government are concerned that while COP 28 was widely regarded as a historic event, with the completion of the first global stocktake (GST), on progress in achievement of the Paris Agreement goals, the outcomes of GST show that emissions of greenhouse gases continue to rise and the nationally determined contributions (NDCs) of Parties will not keep global temperatures below the 1.5 degree goal enshrined in the Paris Agreement.

Heads of Government also expressed concern to be heading to COP 29 where a New Finance Goal will be articulated to replace the 100bn goal, which has not yet been met, even as developing countries require trillions to deal with the escalating impacts of climate change. Developed country parties have not provided enough finance at scale, technology and capacity building support required to help developing countries tackle their pressing needs to build their resilience, especially in adapting to the adverse and increasingly catastrophic impacts of climate change. The clear absence of definitive timelines for action and quantitative commitments for scaling up of investments, and particularly adaptation finance emerging out of COP 28, cause great concern to our Region.

The Conference noted that Small Island Developing States (SIDS), recognized as the most vulnerable group of countries and a special case for sustainable development, have been facing strong push back against the recognition of their special circumstances especially in the context of climate finance. There is limited international support for special allocations for SIDS within financing arrangements and available climate finance from international and private sources is limited, expensive and too onerous to access.

In light of the preceding, Heads of Government called for CARICOM to take a strategic, unified and coordinated approach to ensure that the Region remains influential in the climate and development arena through engagements with key partners and advocacy groups.

They called for renewed focus by the Region to advocate for inclusion of forests, nature-based solutions and blue carbon into market mechanisms with the aim of articulating clear regional positions and strategies.

Heads of Government reiterated the call for improved readiness programmes, simplified approval procedures, a change to the criteria for determining access to low-cost finance, and for the adoption of programmatic approaches to address the bottlenecks in accessing finance.

The Region reiterates its support for the Bridgetown Initiative’s call to expand capital adequacy of international financial institutions.

Heads recognized that the Fourth International Conference on Small Island Developing States, scheduled to be held in Antigua and Barbuda, 27 – 30 May 2024, will be an inflection point for many of these discussions to be articulated. As such, the Region remains committed to participating in the Conference at the highest level.

Continue Reading

TCI News

South Caicos Development Plans shared with Washington-Misick led Administration

Published

on

On Monday, 12 February 2024, the Premier led a delegation to tour the island of South Caicos to view the ongoing public and private sector projects, involving the remodelling and rebranding of the airport terminals, historical districts, and the East Bay Hotel.

The tour of the various developments reinforced the Government’s commitment to collaborating with stakeholders to boost the island’s activity and economy.

Photos courtesy of the TCI Office of the Premier

Continue Reading

FIND US ON FACEBOOK

TRENDING