National
Prime Minister Speaks on Baha Mar Ruling as China Construction America Files Appeal
NASSAU, BAHAMAS – China Construction America (CCA) is now appealing that $1.6 billion ruling in favor of Baha Mar developer Sarkis Izmirlian.
NASSAU, BAHAMAS – China Construction America (CCA) is now appealing that $1.6 billion ruling in favor of Baha Mar developer Sarkis Izmirlian.
A CCA spokesman stating the decision is by no means the last word on the matter.
The court found that CCA committed material breaches of the parties’ investor agreement by requesting $54 million from BML Properties, a company owned by Izmirilian, to pay subcontractors but instead used it to purchase the Hilton hotel in downtown Nassau.
The statement from the CCA spokesperson said the appeal is the first step towards correcting a ruling that misapplies basic principles of New York law, misconstrues core facts, and completely overlooks the consistently tireless construction work done by CCA Bahamas.
That appeal is dated October 29th, 2024
On the sidelines of a groundbreaking ceremony for a clinic in Palmetto Point, Eleuthera Prime Minister Philip Davis sought to dispel talks that the ruling alludes to corruption by the then Perry Christie-led government.
The prime minister also shot down claims the ruling will turn away future foreign investors from The Bahamas.
The Supreme Court ruling also outlines how the defendants used CCA consultant Leslie Bethel to access his father, Sir. Baltron Bethel in a bid to secure the government’s favor and support in getting rid of BML Properties Ltd.
Sir Baltron served as senior advisor to then-Prime Minister Perry Christie.
Our News attempted to get a response from the former prime minister on the matter.
Davis has directed the attorney general to conduct a review of the ruling.
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