By VERNON CLEMENT JONES, Guardian Business Editor, vernon@nasguard.com
Ginn Sur Mer’s future will likely be protected by the estimated $100 million its development company has held in escrow for construction of the West End project, and entirely outside the reach of a creditor now reserving the right to call in a $675 million marker, a U.S. expert on Ginn told Guardian Business Monday. (more…)
By VERNON CLEMENT JONES, Guardian Business Editor, vernon@nasguard.com
Guardian Business has learned developer Bobby Ginn will jet into Freeport next Wednesday to address growing concern about the fate of his $4 billion West End project, part of a financing deal now actively being re-negotiated with talks likely to extend past a creditor-imposed deadline. (more…)
Duncombe fears impact of developments
By TAMARA McKENZIE,Assistant News Editor,tamara@nasguard.com
While the government has a number of tourism-related projects on the drawing board that would hopefully pump millions into the Bahamian economy once completed, a local environmentalist is expressing concern about some of them. On Tuesday, Sam Duncombe, Director of the ReEarth environmental organization said she had some reservations about several proposed developments, claiming that they could damage the environment or pollute the water table when the work gets underway. (more…)