Weekly Comments

The New York state Court of Appeal in America has refused to stay the bogus judgment by a court in New York which gives the failed developer of Bahamar 1.6 billion dollars in damages for losses which the failed developer says are because of the China Constriction Company in The Bahamas.

Quite part from the judgment itself being bogus and an anti-Chinese decision, the fact is the Courts in New York have no jurisdiction over land in The Bahamas.

Why is that important?

The assets of China construction in the United States are apparently non-existent. The only hard assets the company has are two hotels in Nassau.  Those hotels are said to be worth 335 million dollars.  The judgement is 1.6 billion dollars. The company is required to put up assets that match the judgment in order to stop it while they prosecute an appeal.

We made the point in an earlier comment that we do not believe that those assets could have been pledged to a New York court because  when it came to the enforcement of any judgement in New York, they simply could not if The Bahamas government refuses to allow the transfer to take place.

We repeat that opinion here and go further. We say that if it comes to liquidation of the asset in an attempt to enforce the ultimate judgement, the judgement should not be enforced in The Bahamas. 

One other point, we say that the government of The Bahamas whether PLP or FNM should not allow any such transfer to take place where the Izmirlian group will end up owning hotel properties in The Bahamas.

The ownership of any hotel property by the Izmirlian group in The Bahamas would not be in the public interest of  The Bahamas.

Number of hits for the week ending Saturday 21 December 2024 up to midnight: 510,594;

Number of hits for the month of December up to Saturday 21 December 2024 up to midnight: 1,765,699;

Number of hits for the year of December up to Saturday 21 December 2024 up to midnight: 19,015,846