The $3.5 billion Baha Mar casino resort in the Bahamas has been surrounded in controversy for the last couple of years as the project came to a halt after developer Sarkis Izmirlian faced financial troubles due to delays, and the secured creditor for the project, the Export-Import Bank of China (EXIM) wasnt willing to extend more financing. After a long drawn-out legal and political drama, the Supreme Court in the Bahamas has placed seven Baha Mar companies into full liquidation.
Sarkis Izmirlian and his family invested nearly $900 million into the Baha Mar casino resort which included acquiring vast amounts of land as the resort was to be built on a 600-acre site. Now that the Supreme Court has placed seven companies into liquidation a…
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