Baha Mar Resort Files Bankruptcy Blaming Contractor Delays
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The owners of Baha Mar, a Caribbean resort project valued at more than $3.5 billion, filed for bankruptcy court protection in Delaware, blaming delays by the general contractor.
The four-hotel resort and golf complex, featuring the largest casino in the Caribbean and its own private island, was presented as the most significant tourism project in the history of the Bahamas. But disputes between the Swiss-Bahamian Izmirlian family, which runs Baha Mar, and a Chinese builder caused the project to miss its scheduled opening in March.