Baha Mar, which is now insolvent, is seeking to dismiss the petition! The company filed bankruptcy in Delaware on June 29th…
Nassau, Bahamas – UK based attorney representing the Government of the Bahamas in the Liquidation petition of Baha Mar, Peter Knox QC, opened arguments this morning stating why the Court should agree to the appointment of a provisional liquidator for Baha Mar, citing documents which point to the fact that Baha Mar is insolvent.
Knox told the court this morning he would reveal five points in law that support his arguments for liquidation. He also pointed to the fact that the Government of the Bahamas is a creditor of Baha Mar. The government confirmed in court documents that Baha Mar had owed it more than $58 million.
Knox filed a petition striking out the government’s first petition and has since filed several petitions seeking the wind up of all seven Baha Mar companies.
The matter will continue this afternoon in Justice Winder’s Court.
Baha Mar’s new attorney, Ian Corbett, is asking the court to dismiss the government’s petition. Baha Mar’s last attorney bill was left in dispute.
We report yinner decide!