SARKIS WRITES ANOTHER LETTER: MATERIALLY MISLEADING
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Each week, for sale the principal of the Bahamar project Sarkis Izmirlian writes a letter to the employees of Bahamar that he calls Bahamar citizens. In it he tries to explain his side of the story. He inevitably presents that he is a reasonable man, ampoule who was simply trying to do what was best for his project and for The Bahamas. Not. We have shown that a number of the letters that he was written simply repeated falsehoods: some by commission and others by omission. The latest which we publish below says that he has filed a plan for the reorganization of Bahamar in the Delaware Courts and that he is simply awaiting the decision of that court for his reorganization plan to kick in. What he does not say is that he did not file the proper plan for reorganization. He is unable to say where he is going to get the money to execute the plan. He does not say that he asked the court to allow him to do all of these filings at a later date. Bottom line is that it is all smoke and mirrors. We are very concerned though about these columns that appear in the newspaper from intelligent people siding with a man who does not mean The Bahamas well at all by the most recent occurrences at Bahamar. They should be very careful. For example the artist community that purports to have been helped by Sarkis Izmirlian, except that the artist community is one of them suffering from unpaid bills which if his bankruptcy plans succeed will mean going to Delaware to prove that he owes them money. How does that make any sense. Further, nothing the American court says will be honoured in Nassau. The Bahamas court has already ruled that. So any order of that court is useless. In short it just another set of lies from Bahamar. The project is going to take 600 million dollars to finish. The latest filing in Delaware gives account for only 20 million of that. Where is the rest to come from. He does not know and he cannot say and he has asked the US court to be able to tell them later. He must think we are fools.
