NASSAU, Bahamas, Jul 08 2015 – The main construction contractor of the much delayed $3.5 billion Baha Mar resort has hit back at Baha Mar Ltd, accusing the developer of mismanagement.
“Baha Mar Ltd.’s decision to file for bankruptcy protection is the direct result of its failure to secure adequate financing and its mismanagement of the design of the Baha Mar resort project,” China Construction America Bahamas (CCA) said in a statement.
“Mismanagement includes replacing the principal architect after construction commenced, the late and incomplete delivery of design packages and over 1,300 construction change directives,” it said.
Baha Mar’s application for bankruptcy protection was adjourned until July 20, in order to enter into negotiations with China Export-Import Bank and the Bahamas government,” the developer said.
CCA also said they are owed a significant amount by Baha Mar for work already completed.
“Since February 2015, CCA Bahamas and our subcontractors have performed nearly $72 million of contract work for which we have received no payment. We have continually acted in good faith in the performance of this work reliant upon the belief that Baha Mar Ltd. would fulfill its responsibilities as the owner.”
Local media had previously reported CCA had slowed down work production in response to not being paid on time.
Baha Mar’s attempt to file for bankruptcy protection in the US has also caused concern with Bahamas government officials.
CCA said that decision was “calculated to benefit the project’s developer over the interests of the Bahamas and its people.”
