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Tag Archives: Receivership

Bahamas – Developer remains silent as Baha Mar is placed into receivership

The Supreme Court in the Bahamas has placed the $3.5bn Baha Mar project into receivership after approving an application from the EXIM Bank. The aim now is to ensure that the relevant parties co-operate to get the resort completed and open. However the court has already appointed liquidators to make 2,020 Baha Mar employees redundant…