The stalled Baha Mar mega-resort in Nassau, Bahamas, has been placed into receivership, according to the provisional liquidators appointed by the Bahamas Supreme Court.
Deloitte has been appointed as receiver by Export-Import Bank of China, the project's lender, according to a statement by liquidators KRyS Global and AlixPartners.
“Our part now is to function closely with Deloitte as the bank’s appointed receivers with a view to exploring and deciding on the most acceptable strategic choice in order to see the resort completed and open for company,” AlixPartners' Alastair Beveridge and KRyS Global's Edmund Rahming mentioned in the statement.
The appointment of Deloitte as receiver suggests that developer Baha Mar Ltd. is unlikely to retain manage over the resort. The developer late final month laid off 2,000 staff soon after principal Sarkis Izmirlian said there was "simply no way for Baha Mar to sustain the thousands of jobs."
A Baha Mar spokesman declined to comment. Representatives with the Bahamas government didn't instantly respond to a request for comment from Travel Weekly on Friday.
The five-hotel Baha Mar resort was originally scheduled to open late final year.
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