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PLP DEFENDS THE GOVERNMENT OVER BAHAMAR

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pharm times;”> 25th October 2015

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Progressive Liberal Party

The Progressive Liberal Progressive regrets and is sensitive to the plight of those Bahamians who lost their jobs at Baha Mar due to its insolvency but is confident that the government is doing all within its lawful power to complete this project and get the resort open as soon as is practicable and return those employees to productive work.

With that said the PLP strongly rejects out of hand any suggestion that the government interfered with the Baha Mar negotiations, a private contractual matter, and is therefore to blame for the recent lay-offs. This suggestion is foolish, reckless and irresponsible because it is simply untrue and at odds with the facts that are matters of public record. The blame for the troubles lies at the feet of the developer.

Prime Minister Christie was invited by the developer to intervene and facilitate a negotiated settlement. Further, the president of the China Exim Bank also invited the Prime Minister to participate in the three party talks.

SO CLEARLY THERE WAS NEVER ANY INTERFERENCE IN THE MULTI-PARTY TALKS AS THE FNM SUGGESTS.

The suggestion that the Bahamas government should not have gotten involved in the Baha Mar negotiations is clearly off base and a non-starter given the level of investment in this project by the Bahamas government on behalf of its people. To suggest that the government should have taken a “hands off” and “wait and see” approach given the huge importance of this investment to the country is illogical and irresponsible.

The FNM and its surrogates continue to advance this patently erroneous narrative of government interference and blame; this is willfully misleading. Further, the developer without notice to the government and China Exim Bank took Baha Mar into bankruptcy. In the end both the Delaware and Bahamas Supreme Courts agreed that the matter should be settled under Bahamian law.

Is the FNM challenging the ruling of the Supreme Court? If so, on what grounds?

The PLP supports the position of forbearance taken by the Prime Minister and his government as it demonstrated to the world at large and to the Court that the government, an unsecured creditor, was giving the developer every available opportunity to retain his investment. Forbearance has its limits and there has to be an exit strategy and an end game when the lives and work of Bahamians are at stake.

We urge the government to continue to work toward the completion of the project and not be deflected by the baseless and unfair criticism.

end