A development company building a $3.5-billion, nearly complete Bahamas resort project has filed for bankruptcy protection while allegedly still owing a subsidiary of China Construction America (CCA) $72 million for its work.
With the two parties seemingly readying for a legal battle, on July 7 the prime minister of the Bahamas, Perry Gladstone Christie, issued a call for mediated negotiations, as soon as this weekend. In a statement he posted to Facebook, Christie asserted that CCA had agreed to participate in negotiations, and urged Baha Mar to accept the offer as well.