Bahamas

Bahamas To Refinance Part of Its Debt for Conservation Projects and Climate Change Mitigation

The Bahamas announced Friday that it will refinance $300 million of its external debt to free up more than $120 million for marine conservation projects and climate change mitigation, the Associated Press reported. It is the fifth such debt-for-nature swap in the world, with the Bahamian government signing the deal with The Nature Conservancy, the Inter-American Development Bank and other financial partners.
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Baha Mar Defendants Request Stay of Enforcement to Avoid Insolvency During Appeal

The defendants in the $1.6 billion alleged fraud case linked to the Baha Mar casino, in the Bahamas, have requested a stay of enforcement on the court’s ruling noting that the companies in question ‘will be forced into insolvency,’ Asia Gaming Brief reported. According to a reply affirmation filed with the Supreme Court of the State of New York Appellate Division, CCA Construction Inc, CSCEC Bahamas Ltd and CCA Bahamas Ltd requested the stay. Collectively the defendants are referred to as CCAB, while the plaintiff is BLM Properties Ltd.
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Corporate Insolvency and Restructuring in the Wider Commonwealth Caribbean

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