Categorized | National News

Fitzgerald: Gov’t Concern Is For Bahamian Creditors

Baha Mar’s Claims Committee has caught a lot of flack in recent weeks with some arguing that the claims process is heavily flawed, one of the lead negotiators in the multi-billion dollar deal Education Minister Jerome Fitzgerald yesterday fired back at critics.

Mr. Fitzgerald spoke with reporters and assured that despite what is being put out there, Bahamian creditors will be paid.

“The creditors for Baha Mar are both Bahamian and non-Bahamian.

“We the Bahamian governments have made it clear from day one that we are concerned about Bahamian creditors.

“Our concern as a government was for those unsecured creditors who were Bahamian who had absolutely no recourse in liquidation against a bankrupt and liquidated company.

“All of the creditors who had no chance of receiving a red cent, will be able to receive most if not all of their money

“Now there are creditors who are owed money by CCA, CCA is not in liquidation it is a legal entity that was not the center of our concern.

“CCA is not bankrupt it is not in liquidation, they indicated to us that they will satisfy reasonable and legitimate claims before they move forward and we will hold them to that,” Mr. Fitzgerald said.

He lamented the fact that the committee will indeed meet their deadline.

“As far as we’re concerned they will be settled by the end of the month.

“We have seen nothing to indicate that the deadline won’t be satisfied,” Mr. Fitzgerald said.

In regards of criticisms from detractors that some of the language regarding the process has changed from the prime minister’s initial announcement, Mr. Fitzgerald vehemently refuted these claims.

“There has been no language changed.

“The committee is taking in all claims, from Bahamian and non Bahamian.

“Some of those will not get much because they are non-Bahamians so there is no guarantee; there is nothing inconsistent at all,” Mr. Fitzgerald said.

He also shot down talks about former Baha Mar developer Sarkis Izmirilian still possibly having a deal on the table, Fitzgerald said he has yet to bring “one red cent “ forward or any guarantees just words.

Last week former Baha Mar director Dionisio D’Aguilar claimed local contractors will not benefit from the process and Democratic National Alliance leader Branville McCartney accused Prime Minister Perry Christie of misleading the Bahamian people.

Claims committee head James Smith last week explained that payouts to former baha mar employees will be prioritized over payments to all others.

The ex workers – some 2,000 of them – will receive unpaid salaries, severance pay, accrued vacation pay and notice payments due to termination.



Written by Jones Bahamas

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