China Construction America and Co-Defendants Announce Resolution of Baha Mar Legal Dispute

Agreement Subject to U.S. Bankruptcy Court Approval; Legal Proceedings Concluded in New York and The Bahamas

Morristown, New Jersey and Nassau, The Bahamas – China Construction America (CCA), CCA Bahamas Ltd. (CCAB), and CSCEC Bahamas Ltd. (CSCECB) announced a comprehensive agreement with BML Properties Ltd. (BMLP) that resolves their long-standing legal dispute over the construction of the Baha Mar resort.

According to the terms of the agreement, BMLP will withdraw all claims against CCA, CCAB, and CSCECB, along with their affiliates, in the United States and The Bahamas, without any admission of liability from the construction companies. This resolution is contingent upon approval by the U.S. Bankruptcy Court in New Jersey, which CCA anticipates will be granted in the near future.cca

As part of the settlement, CCA Bahamas will retain its ownership interests in the British Colonial and Margaritaville Beach Resort hotels, investments that the company believes will contribute positively to the Bahamian community for years to come.

This resolution follows CCA’s motion to appeal a prior decision from the New York State Supreme Court, along with a Chapter 11 filing aimed at safeguarding the interests of stakeholders involved in the dispute.

“We are pleased to have successfully resolved this matter and to move forward with clarity and certainty for our employees, customers, and partners,” stated Yan Wei, Chairman & CEO of CCA. “While we remain confident in the strength of our legal position, resolving this matter is in the best interest of all stakeholders. It allows us to focus on delivering world-class construction projects and hospitality operations. We thank our team and partners for their ongoing support, and we look forward to exploring many future opportunities together. We also express our gratitude to the people and businesses of The Bahamas for their continued friendship and trust, as we aim to strengthen our relationships in the country.”

This agreement marks a significant step towards closure for CCA and its affiliates, as they move forward with their commitment to enhancing the hospitality landscape in The Bahamas and beyond.