THE IZMERLIAN GROUP OUT OF THEIR MINDS
Having won a bogus judgement against the China Construction Company in New York, and being unable to collect a penny on the judgment in New York, the hapless and hopeless Izmirlian empire was roving around Nassau trying to take the companies owned by China Construction away from them.
Their chief spokesman was in the press saying how they were winding up the companies owned by China Construction in The Bahamas: the British Colonial and Margaritaville. They claimed this was enforcing the bogus judgement obtained in New York that is now under appeal.
The judgment was not stayed because under New York law as a disincentive for appeals to be made, they require the appellant to put up the whole amount of the judgement in favour of the plaintiff in order to get a stay. The judge obviously set an amount knowing that the defendant could not make the bond.
Now the Izmirlian group turned to Nassau and is trying to use the company law in The Bahamas to wind up the companies and take control of the hotels owned by China Construction in the Bahamas. They will rot in hell before that happens.
The Bahamas government should make it clear that under no circumstances will Sarkis Izmirlian or anyone associated with him have the permission of the government of The Bahamas to gain control of those hotels. No buyer will be given permission to transfer the asset without the permission of the government of The Bahamas.
We remind the Izmirlian group that when they defaulted on the loan to the Chinese the debt was not fully discharged in the liquidation and sale to the now owners of Bahamar. They reportedly owe the liquidators some 1.1 billion dollars. So anything that Izmirlian gets off China Construction, they must pay the liquidators.
What a silly and vengeful group this is.
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