National

Government Threatens Arbitration If $300M Demand Not Met

NASSAU, BAHAMAS – The back and forth between the government and the Grand Bahama Port Authority (GBPA) could end up in arbitration proceedings.

Published

3 years ago

April 8, 2024

Berthony McDermott

NASSAU, BAHAMAS – The back and forth between the government and the Grand Bahama Port Authority (GBPA) could end up in arbitration proceedings, according to Prime Minister Philip Davis if that $300m demand is not met by the 30-day deadline.

In a statement, the GBPA the demand as ill-founded.

The statement also accused the government of making the demand to force the Hayward and St. Geroge families to sell their respective 50 percent equity ownership interests after they rejected its offer to buy them out.

The statement also revealed for the past 70 years no other administration sought to recoup reimbursement from the GBPA.

Both sides have been in a heated public back-and-forth that’s been the opposition has criticized as inappropriate.

Davis says the government is following the arrangements between the government and the port authority.

He says the arrangements require the government to lay out a detailed account of what the reimbursable are.

The GBPA has said they don’t own the government a dollar.