A subsidiary of China Construction America (CCA), as well as the Bahamian government, are taking separate steps aimed at preventing the developer of a stalled, nearly complete resort project from attaining protection from creditors via bankruptcy.
The latest courtroom maneuvers are unfolding as the contractor and developer are in Beijing, China, participating, ironically, in negotiations with the Export-Import Bank of China—the project’s main financier—aimed at restarting construction of the $3.5-billion Baha Mar project, which is 97% complete.