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Baha Mar Joint Provisional Liquidators Issue Statement on Appointment

Nassau, 10 Sept 2015 – Alastair Beveridge and Nick Cropper, of leading global business advisory firm AlixPartners Services UK LLP (AlixPartners), and Edmund Rahming of KRyS Global have today been appointed Joint Provisional Liquidators (JPLs) over Baha Mar Ltd, Baha Mar Land Holdings Ltd, Baha Mar Properties Ltd, BMP Three Ltd, BMP Golf Ltd, Cable Beach Resorts Ltd, Baha Mar Enterprises Ltd, together Bahar Mar PL (the Group).
Baha Mar is a luxury resort development located in Nassau, Bahamas. The development includes a range of hotel, leisure and entertainment facilities and was launched as the largest single phase construction project in the Western Hemisphere.

Friday’s appointment was effected by the Bahamas Court following winding up petitions submitted in response to the Group’s Chapter 11 filing in June 2015.

Commenting on behalf of the JPLs Edmund Rahming of KRyS Global said: “This is both a high profile and extremely complex situation which impacts a wide range of stakeholders, not least of all the people of The Bahamas. As a result the ultimate success of the Baha Mar project is in everybody’s interest and priority now is to begin our work in order to identify the best route forward. We will be working closely with all appropriate stakeholder groups throughout and further updates will follow in due course.”

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