A subsidiary of China Construction America (CCA), as well as the Bahamian government, are taking separate steps to prevent 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 participate, 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.