Categorized | National News

PSDU Calls For Partnership With Izmirlian

The Public Service Drivers Union (PSDU) yesterday during a press conference sounded off support for Baha Mar Developer Sarkis Izmirlian in his pursuit to regain control of the beleaguered multi-billion dollar resort.


PSDU President, Richard Johnson, said the union’s views the developer as a great potential partner in the Tourism Industry.


“We would like to support Mr. Sarkis Izmirlian, the developer because we feel that he is the best person suited to see the project through. We want to do so in a partnership arrangement with him. I have not formally approached him but I made an attempt through one of his people. If we can get the government to support what we’re doing, it would strengthen our hand,” she said.


Last month Mr. Izmirlian made an offer to the resort’s receiver bank, China Exim Bank, but at last report, he (Mr. Izmirlian) felt the bidding process implemented by the receivers was not in his best interest.


However, he made it known that his offer still stands.


In his offer, Izmirlian said he would open the resort, payment would be made to unsecured creditors and “no discount would be incurred by China Exima on its Baha Mar funding,”


Last month, Mr. Izmirlian said he was confident that the offer was the right solution, in order to make Baha Mar successful.


“We want all creditors’ economic interests to be addressed fairly. We want former Baha Mar employees to be able to be back at work,” he said.


Last year June, the multi-billion dollar resort unsuccessfully filed for bankruptcy in a US court, due to the government’s intervention.


Late last year, the resort was placed into the hands of receivers.


Meanwhile Mr. Johnson said his union, after twenty years of pleading with the government to answer three pertinent questions, has finally gotten some dash of hope that the prime minister and minister of finance will come to the negotiation table.


“One, the ownership of the taxi franchise, two, the valuation of the franchise and three, our proposal to manage the tour cars, and taxi franchises along with the privately chartered franchises,” said Mr. Johnson.




















Written by Jones Bahamas

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