MORE LIES FROM BAHAMAR
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The Tribune photo showing the lawyers leaving court in the Bahamar hearing last week.
store times;”>Sarkis Izmirlian can only be described in this matter as thick as molasses. He doesn’t seem to get it. Maybe all that money has addled his brain. The case is now before the courts, where the Government has asked for a provisional liquidator to take over the Bahamar project that he pioneered which had he held his head would have revolutionized Bahamian tourism. He tried a maneuver by filing for Chapter 11 in the United States which would have allowed him to walk away from his debts in The Bahamas which were lawfully contracted and then get the asset in the Bahamas free and clear. The government of The Bahamas intervened and that matter is before he courts. Now he has written a letter to the employees of Bahamar, he has been calling them citizens of Bahamar, to say that it’s all the government’s fault that his partner Rosewood is pulling out of the business. Never mind the fact that Rosewood says that it’s his fault that he misled them as to what he owned and didn’t own. He says if only the Government hadn’t stopped the Chapter 11, we would have been able to finish the project. That is a lie. The government is not the issue. Mr. Izmirlian is the issue. He cannot pay his debts and the Chapter 11 would have allowed the developer to walk away from the project with the physical assets and no debt payments. The Bahamian contractors would have ever been paid. The judge Ian Winder heard the case for the provisional liquidator over three days beginning 19th August. He has reserved his judgment and says he will announce his devein on 4th September. We hope he agrees with the government. The latest from Sarkis Izmirlian appears below:
