BML Sues Former Chinese Contractor for Baha Mar Resorts

Baha Mar ResortIn April 2017, the Baha Mar Gaming Resort in the Bahamas was finally opened for the customers under new ownership after a very long period of delay.

But the troubles for this gaming resort does not seem to be over as BML Properties Ltd. has confirmed that they are going to sue the Chinese contractor who has developed the Baha Mar resort.

The Chinese Contractor has been sued with a massive lawsuit of $2.5 billion from BML Properties Ltd. The former has been accused of massive fraud in the construction efforts.

In the lawsuit, the China Construction America Inc (CCA) which is an American subsidiary of China State Construction Engineering Corp Ltd, ran a scheme of self-enrichment which caused several delays in the construction of the resort. BML was compelled to file for bankruptcy in 2015 when it was facing a debt of $2.7 billion.

Baha Mar

The government of Bahamas has rejected the US filed bankruptcy and was compelled to use other local liabilities of the resort's project to cover the debt. It was done by selling the property and rights to a Hong Kong-based company called Chow Tai Fook Enterprises Ltd. Now it is known that BML was compelled to file for bankruptcy due to the fraudulent practices of CCA. According to BML, CCA had filed millions of dollar in false expenses report. CCA was to provide highly trained staff members for the resort's site so that the project can be completed in a stipulated period which was December 2014.

But sufficient staff members were not provided by CCA, and the site was utilised as a training ground for less experienced workers. As a result of which, BML Property Management lost equity investments to the tune of $845 million and rights from all future profits from this resorts project.

Baha Mar Resort is regarded as the most significant casino resort in the entire Caribbean. Here, one can find 126 table games with more than 1000 slot machines. Here, the prospective visitors can place race and sports bet apart from dining across a large number of restaurants and bars. Apart from the casino, there are approximately 2800 rooms in the resort. The Grand Hyatt Baha Mar is the most abundant resort with 1800 rooms. Almost 200 rooms are full suites that comprise up to 3 bedrooms. There are SLS and Rosewood branded hotels available at the Baha Mar.

The Hong Kong-based company Chow Tai has made most of the investments for this resort which comes to around $4.2 billion. BML is hoping to gain money from the lawsuit and recoup its losses.

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