Dismissal of China Construction America Motion Has “No Bearing On The Merits” of Its Case

NEW YORK, USA – China Construction America (CCA) said Friday the dismissal of its motion to halt enforcement of a $1.6 billion judgment awarded to Sarkis Izmirlian, Baha Mar’s original developer, has “no bearing on the merits” of its case and vows to appeal the trial court’s “error-ridden decision.”

On Thursday, the Appellate Division of the New York Supreme Court dismissed CCA’s motion and lifted an interim stay granted in November.

CCA said it sought the stay to prevent the potential liquidation of two Nassau resorts, claiming the ruling could affect operations at its British Colonial and Margaritaville properties, which employ hundreds of Bahamians.

A spokesperson for CCA told Our News on Friday, “…We intend to show, the lower court failed to apply well-established principles of New York law and disregarded clear evidence that BML Properties grossly mismanaged the Baha Mar project and then drove it into a wrongful, secret bankruptcy to eliminate its obligations to other stakeholders, including the government and people of The Bahamas.”

On October 24th, Supreme Court Justice Andrew Borrok ruled that CCA materially breached the investors’ agreement by misusing $54 million intended for subcontractor payments to instead purchase the Hilton Hotel in downtown Nassau.

CCA appealed the ruling on November 1st. At the time, a spokesperson said, “The lower court’s decision is not the final word…”