November 12, 2015
Cooley LLP and Whiteford Taylor & Preston LLC, which represented the unsecured creditors committee in the bankruptcy of the embattled $3.5 billion Bahamanian resort Baha Mar, are claiming that the project's developer, Sarkis Izmirlian, has stiffed them on more than $300,000 in legal fees and costs.
September 15, 2015
A Delaware bankruptcy judge dismissed all Chapter 11 cases of the stalled $3.5 billion Baha Mar resort Tuesday save one brought by a U.S. subsidiary, agreeing with creditors who say the parties expected insolvency proceedings would take place in the Bahamas, where the project is located.
September 09, 2015
Baha Mar Ltd. said Wednesday in Delaware that Rosewood Hotels & Resorts can't back out of licensing and management agreements to run one of four hotels on the Bahamas property, saying its restructuring efforts would suffer if the deal was terminated.
September 04, 2015
The court in the Bahamas overseeing the insolvency proceedings for the unfinished $3.5 billion Baha Mar resort complex appointed a liquidator Friday, but limited the post's powers to preserving the debtor's assets, allowing the developer to continue working on a plan to complete the project, Baha Mar said.
August 28, 2015
The developer of the stalled $3.5 billion Baha Mar resort argued Friday that Delaware bankruptcy court is the appropriate forum for its reorganization and that granting a contractor and a bank's bids to toss the Chapter 11 in favor of a Bahamian insolvency proceeding would spell doom for the project.
August 27, 2015
The developer of the unfinished $3.5 billion Bahamas resort complex Baha Mar filed a Chapter 11 plan late Wednesday that proposes to have Bahamian creditor claims pass through the case unaffected, days ahead of a Delaware court battle over whether the case should be dismissed.
August 26, 2015
A contractor for the troubled Baha Mar resort doubled down Tuesday on its bid to have the developer's U.S. bankruptcy case dismissed, telling a Delaware judge that a recent ruling in the Bahamas undermines any hope that debtor had of executing a successful Chapter 11.
August 20, 2015
Rosewood Hotels and Resorts International Ltd. on Wednesday asked a Delaware bankruptcy judge to let it terminate hotel management and trademark deals with debtor Baha Mar Ltd., saying it no longer wants anything to do with the stalled $3.5 billion Bahamas resort project now mired in Chapter 11.
August 17, 2015
A Delaware bankruptcy judge said Monday that an insolvency proceeding in the Bahamas doesn't necessarily moot the parallel Chapter 11 case of the stalled $3.5 billion Baha Mar resort's developer, saying creditors wouldn't be harmed if it continued.
August 14, 2015
The Export-Import Bank of China pressed a Delaware bankruptcy judge Friday to throw the developers of the unfinished Baha Mar mega-resort out of Chapter 11, arguing that the proceedings clearly belong in the Bahamas after a judge there refused to recognize the U.S. bankruptcy.