, the original developer of the resort in , has filed a new legal motion in the , urging that two prominent Nassau hotels owned by (CCA) be used as security for his damages judgment. October’s milestone judgment in favor of -led Sarkis Izmirlian awarded $1.6 billion in damages against CCA, a subsidiary of the state-owned .
The ruling found CCA guilty of during the development of the Baha Mar resort in The Bahamas. The dispute centers around the , a sprawling on New Providence Island. The complex includes three hotels with rooms, residences, a casino, a spa, a -designed golf course, more than eateries, ten pools, high-end retail shops, and a water park.
Izmirlian, the project’s original developer, invested through BML Properties to transform Baha Mar into a world-class resort. However, the 2015 scheduled opening was by CCA’s alleged misconduct, which the court suspected was a to push BML Properties into bankruptcy. According to a recent report by local news outlet , Izmirlian has suggested that CCA’s ownership of the and in Nassau could serve as for the damages awarded to his company, BML Properties.
The appeal comes after CCA to prevent Izmirlian from enforcing the massive judgment pending its appeal of the verdict. Izmirlian said CCA was making “speculative” claims about its and to its Bahamian employees. CCA, for its part, has maintained that it c the $1.
96bn bond typically required to secure a stay in such cases. The company described the judgment as the collec.
