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08

Bahamas Super Resort Stalled in Bankruptcy

By Tony Seruga

CCA Bahamas, GC for the $3.5-billion Baha Mar resort project, has retained legal services and a private bank after the bankruptcy announcement of developer Baha Mar Ltd.

NASSAU, THE BAHAMAS—CCA Bahamas Ltd., the general contractor for the $3.5 billion Baha Mar resort project, has retained services of four law firms and a private bank after the bankruptcy announcement of Baha Mar Ltd., the developer of the delayed super-resort project.

News broke earlier this week that the developer of the delayed super-resort, Baha Mar Ltd. plans to file for bankruptcy protection in US Bankruptcy Court in Delaware.

Island Capital Group, a private real estate merchant bank, led by Andrew Farkas, has been seleced by CCA Bahamas as its exclusive restructuring and financial advisor in relation to the Baha Mar project. CCA Bahamas also has retained the law firms of Shearman & Sterling LLP; Peckar & Abramson; Squire Patton Boggs in the US and McKinney, Bancroft & Hughes here to represent it in connection with all of its affairs in the pending U.S. bankruptcy proceedings and in the Bahamas…

Bahamas Super Resort Stalled in Bankruptcy

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