By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
UNPAID medical coverage for police officers and the other security forces is “within tolerable” limits, a Cabinet minister asserted yesterday, while denying allegations that the arrears exceed $100m.
Wayne Munroe KC, minister of national security, told Tribune Business that figure - detailed in a February 3, 2025, notice by the Police Staff Association (PSA) to its members - as well as suggestions that Colina Insurance Company “has threatened to cancel policies” due to the non-payment were both incorrect.
By NEIL HARTNELL
Business Editor
A BOARD member for the company charged with transforming New Providence’s electricity grid last night said “everything is progressing well” amid speculation one of its key partners has halted work. Anthony Ferguson, CFAL (Colina Financial Advisors) principal, refuted suggestions that Pike Electrical, which is supplying the manpower, materials and expertise to upgrade Bahamas Power & Light’s (BPL) transmission and distribution network, had initiated a temporary pause as it waits for all necessary agreements to be concluded.
While not providing the accurate premium arrears figure, he said the sum involved was “within tolerance” for the relationship between the Government and the BISX-listed life and health insurer. Mr Munroe also argued it was extremely rare in the corporate world for companies and governments not to owe monies to their vendors at some point in their dealings, describing this as a normal business occurrence. And, in a thinly-veiled suggestion that the Police Staff Association memorandum’s leak could be related to the upcoming general election
and start of political campaigning in earnest, he said the contents have been sent to the ministry of national security’s legal unit for its “advice” and assessment in a hint that disciplinary action may follow.
Pointing out that, as members of the uniformed security services, police officers have a duty to be accurate with information that they release, Mr Munroe voiced concern that the Association’s actions could “impact morale within the Royal Bahamas Police Force (RBPF). He expressed particular unhappiness that it had not exploited his “open door” policy to bring its concerns to him first.
Asserting that he “doesn’t see any issues or challenges” for Pike’s relationship with Bahamas Grid Company, the entity to which the New Providence grid’s assets have been transferred, he confirmed that “one outstanding matter” is expected to be resolved before the week ends but declined to provide any details. Other contacts, too, speaking on condition of anonymity, said an agreement is supposed to be signed on Friday. Mr Ferguson, who sits on Bahamas Grid Company’s Board together with Christina Alston, BPL’s chair,
and members of Island Grid, its management/ operating partner, pointed to the number of Pike bucket trucks seen around New Providence performing the required upgrades since summer 2024, along with the volume of electrical equipment such as sub-struts and wires that has been imported to support the effort.
The minister hit back after the Association, in its February 3 missive on PSA-headed paper, said: “As public servants we have made a profound commitment to protect and serve our communities. However, we face challenges that hinder our effectiveness and threaten our well-being, challenges that deserve our urgent attention and collective action.
“One of the most pressing issues we currently confront is the alarming situation regarding our insurance coverage. It deeply concerns me to report that the Government of the Commonwealth of The Bahamas once again
Asked whether Bahamas Grid Company, Island Grid and Pike Electrical, as well as the Government, have signed all necessary agreements to cement their relationship, the CFAL chief replied: “There’s one outstanding matter that should be concluded this week but all the other substantive agreements have been executed.
“There’s one item outstanding that we expect to be concluded this week. We fully expect it to be done by the end of the week. There’s always give and take in negotiations, but everything is progressing well. I don’t see any issues or challenges.”
‘Sexy body’ manager stripped of $31,200
By NEIL HARTNELL Tribune Business Editor
A FORMER Atlan-
PI resort developer spars with opponents over Atlantis lease
By FAY SIMMONS Tribune Business
DEVELOPERS
of the
first new Paradise Island resort “in many years” yesterday sparred with opponents over the wait to seal a lease deal with Atlantis for construction of a 100-space car park. The One Ocean Association, which represents residents in the adjacent high-rise condominium complex, through its attorneys argued that the Town Planning Committee’s decision to grant conditional approval for transforming the former Paradise Harbour Club site into a seven-storey hotel was unlawful.
plan, submitted on April 29, 2024, relocated the garage to lot eight without public notice or hearing. Lot eight, the proposed new site of the parking garage, is owned by Atlantis and the developer, HotelConsult Bahamas, has yet to secure a lease with the mega resort.
“It is inconceivable how you can grant an approval, a site plan approval, which is a legal term of art, to a proposed development that you have not publicly consulted on, as required by the Act,” said Ms DavisJustin. “And you’re also giving approval to a person who has not actually shown that they have standing or legal authority to make a development.”
Roosevelt Whyms, the Appeal Board’s deputy chairman, questioned Tamika Thompson, HotelConsult Bahamas’ attorney, on the status of the lease talks with Atlantis. She said her client is still in “favourable” negotiations with Atlantis.
The appeal court, in a unanimous decision written by its president, justice Milton Evans, noted that his termination stemmed from a sexual harassment complaint after Mr Babbs allegedly promised a female employee, Ms Cartwright, he would arrange her transfer to the restaurant she managed provided she agreed to display her ‘sexy body’ to him in a video call.
Noting that the nowfired manager was earning $650 per week when dismissed on February 14,
tis restaurant manager who was fired for asking a female employee to “show him her ‘sexy body’” has been stripped of his $31,200 damages award for unfair dismissal. The Court of Appeal, in its January 31, 2025, verdict, overturned a previous Industrial Tribunal ruling by finding that the dismissal of Bradley Babbs, a near-30 year veteran of the Paradise Island mega resort, was not compromised by the failure to provide him with a written copy of his accuser’s witness statement.
2022, the Court of Appeal said: “On February 10, 2022 a female employee made a formal complaint that she received a call from the respondent [Mr Babbs], offering to recommend her transfer to the restaurant he managed on condition that she would video chat with him to see her ‘sexy body’. “She claimed that she found the respondent’s comments inappropriate. Consequently, on February 12, 2022, the respondent was suspended for two days without pay, pending investigation. Upon the respondent’s return from suspension on February 14, 2022, the appellant [Atlantis and its Island Hotel Company subsidiary] conducted a hearing regarding the complaint of gross misconduct.”
Christina Davis-Justin, appearing on the One Ocean residents’ behalf before the Subdivision and Development Appeal Board, argued that the Committee’s decision was based on insufficient public consultation and failed to address her clients’ legal property rights. She argued that the original site plan, submitted on March 5, 2024, included a seven-storey hotel and a two-story parking garage on lot 13. Then, a revised
This involved alleged “sexual harassment” of the female worker making the complaint, “and for offering, in his managerial capacity, to ensure the complainant’s transfer to another restaurant. At the conclusion of the hearing, the respondent was summarily dismissed for gross misconduct, without pay and without notice”.
FTX Bahamas ‘shoots for’ February 18 first payout
By NEIL HARTNELL
Editor
accounting duo, Kevin Cambridge and Peter Greaves, have informed creditors in the so-called “convenience” class that this is the date when many will start to recover their assets. “They’re shooting for February 18th,” one well-placed source, speaking on condition of anonymity, said of the liquidators for FTX’s former Bahamian subsidiary. This newspaper understands that persons in the “convenience” class group account for around 80 percent of all FTX Digital Markets creditors, but the timing of their payout will depend on whether they have fulfilled Know Your
Customer (KYC) and other conditions. International reports have suggested that these early-payout creditors, representing the bulk or greatest volume of FTX Digital Markets claims, could recover sums equivalent to 118 percent of what they were owed when the Securities Commission placed the crypto exchange
Mr Whyms highlighted that, during appeal hearings, developers must provide proof of ownership in the form of a conveyance or documents to show they have been granted
PIKE Electric vehicles are seen parked behind a locked gate off of Western Road on February 4, 2025. Photo:Dante Carrer/Tribune Staff
WAYNE MUNROE
NEW FOOD SAFETY REGIME PROVOKES MIXED REACTION
By NEIL HARTNELL
FOOD vendors and related firms yesterday backed efforts to raise industry standards but voiced fears that a new health and safety regime could increase “red tape” and undermine business efficiency.
Responding to the Bahamas Agricultural Health and Food Safety Authority’s (BAHFSA) moves to enforce a new regulatory framework based on three laws passed by Parliament nine years ago, Kendrick Delaney, The New Duff’s principal, pointed to existing high costs and regulations already imposed on businesses.
Voicing concern about the impact on small businesses especially, he said: “We need to fix what’s already broken. Raising food safety standards is a good thing. No argument there. But for those of us running small businesses, the question isn’t ‘why’ - it’s ‘how’. How do these new regulations create opportunity rather than just more costs? How do they make it easier to grow, trade and thrive rather than just harder to keep up?
“We have agencies like the Small Business Development Centre (SBDC)
and Bahamas Agricultural and Industrial Corporation (BAIC) working to help entrepreneurs access funding, training and export opportunities. That’s real progress. But those efforts often run into the same bureaucratic roadblocks that are now set to expand. Before we add new costs and compliance burdens, we need to fix what’s already broken.
“Why are we still doing things the hard way? Take VAT reporting. Every VATregistered business files detailed, digitised reports on revenue, expenses and imported goods. So why are small businesses still required to apply for Customs waivers manually - on paper - through the Ministry of Finance for items that Inland Revenue already has full visibility on?” Mr Delaney asked.
“Every overseas purchase is already tracked through Customs and VAT filings. Yet we’re expected to physically resubmit the same information for every single waiver requestsometimes for urgent items, sometimes through freight forwarders who aren’t even set up to handle this kind of paperwork. This isn’t just inefficient; it actively slows down businesses, raises costs and keeps us tied to a system
that should have been automated years ago.”
Mr Delaney called for regulatory compliance to be made easy to prevent some food-related businesses from being forced out of business. He said new safety regimes should be tested to avoid complications connected to compliance and rising business costs.
“Regulations only work if businesses can actually keep up,” Mr Delaney said. “New food safety rules should be user-tested and refined before they’re imposed. If businesses can’t afford or understand them, compliance rates won’t go up - business costs will. And if these rules add more complexity without solving underlying inefficiencies, we’ll have safer food but fewer food businesses.
“Let’s not also forget who’s working more often in food and agriculture. And, of course, none of these certifications will be offered in Creole. So let’s be clear: If businesses are expected to invest in compliance, the Government should invest in making compliance easy. We shouldn’t have to fight through outdated processes just to follow the rules.
“And if these new regulations are about building a stronger food industry, they should include a real plan for helping businesses
scale beyond The Bahamas, not just survive within it. Because right now, what’s being proposed looks less like a step forward for food safety and more like another layer of red tape on businesses that are already doing their best to keep up.”
Steven Key, general manager at The d’Albenas Agency, who attended last week’s webinar by the Authority to introduce the regime, agreed that food safety is paramount. However, the wholesaler believes what applies to some should not apply to all.
“They need to have different levels of inspection or certification for different types of businesses. Wholesalers that deal with cases of packaged stuff shouldn’t have the same stringent requirements as a restaurant that’s opening items, and cooking and preparing and serving,” Mr Key added.
“Each employee will have to go through a food safety course which is conducted by the Ministry of Health. And for people that are actually handling and preparing food, I understand that, but for people in a warehouse that are moving cases, I don’t understand that.
“Making sure that there’s a clean environment, making sure that people know how to handle food properly, that’s all good.
There’s nothing wrong with any of that. But you need to be able to discern who needs to take these courses and who doesn’t, because that’s a big cost.”
Mr Key did not recall the cost to register with the Authority but did not think “it was anything astronomical.” He added that the registration fee varies depending on the size of a business and its workforce, and the cost of the required health courses for every employee is another factor.
Reiterating that companies cannot keep absorbing cost increases, Mr Key said: “There’s a registration fee and it varies depending on the size of the business. If you have two employees, it’s this much. If you have 50 employees, it’s this much. If you have 100 employees, it’s this much.
“It’s just another cost on to businesses. I mean, every time you turn around there’s more cost added to doing business. The businesses just can’t keep absorbing increases placed on them by government agencies. I mean, if you think about it, if you’re a two-person business and you get saddled with an extra bill, at what point do you not pass that on?
“I mean, that’s part of the cost of doing business. So it’s the consumer at the end of the road that pays it. If you
have a company that has 200 employees, and every year they have to go through this course - and I don’t know what the cost of the course is - but there’s the cost and then there’s the time that it takes to go and do the course, which I think is three or four hours. You know, that’s another cost in and of itself,” he added.
“In our case, the company would pay those bills, but again, that’s added into the cost of doing business. So who pays it in the end? I mean, just consider if the cost of that course is $200 a person - and I don’t know what it is - and we have 200 employees that have to go through that course. 200 times 200 is $40,000. No company is just going to absorb that. No company can afford to just absorb that. At least not ours, not a wholesale company.
Mr Key reiterated his support for BAHFSA’s vision as far as cracking down on food safety, adding that it is trying to bring Bahamian businesses up to international standards. “I just want to reemphasise one thing as far as them BAHFSA trying to improve standards within all the various operators to get to a level that is acceptable on an international basis, which is what I think they’re trying to accomplish,” he added.
MARINE FORECAST
DEVELOPER TEAMS WITH BVLGARI TO BRAND $500M EXUMA HOTEL
By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net
A BAHAMIAN resort developer has teamed with a high-end operator to brand its second project in the Exumas.
Bvlgari Hotels & Resorts is partnering with Cave Cay Ltd to launch the Bvlgari Resort & Mansions, Cave Cay. The resort, which is the second Exuma destination being developed by Felipe MacLean, principal of Miami-based Yntegra Group, is scheduled to open in 2029 and will feature 64 high-end suites and seafront villas, as well as 48 Bvlgaribranded private mansions and estates offered for sale.
A Heads of Agreement was signed between the developer, Cave Cay Ltd, and the Government in 2023 to construct a $500m resort on the 220-acre private island located in
$85m airport transformation key to make Exuma a ‘hub’
By FAY SIMMONS Tribune Business Reporter
THE Deputy Prime Minister yesterday said the $85m transformation of Exuma’s international airport will help sustain the island’s fast-growing economy into the future.
Speaking during a site visit to Georgetown, Chester Cooper, also the island’s MP and minister of tourism, investments and aviation, said the expenditure on infrastructure will benefit other Family Islands as well.
The Exuma airport’s overhaul is part-funded by a $35m Inter-American Development Bank (IDB), with the balance featuring a $50m investment from the Government and other partners.
“When we speak of the infrastructure development here, the IDB is investing $35m-plus into this specific project, and the Government of The Bahamas and its partners are investing an additional $50m to ensure that we have what it takes here to build the type of hub that is necessary for the continued growth, not just of Exuma, but of all of the south-eastern and central islands of The Bahamas,” said Mr Cooper.
“Exuma is one of the fastest-growing economies of The Bahamas, having attracted more than $2bn of new foreign direct investments over the course of the last three years. We expect this growth to continue, and if we are to do it in a sustainable way, we must continue to invest in our infrastructure. So today is significant. This
is a moment of hope for the consistent growth and development of Exuma.”
Ilan Goldfajn, the IDB’s president, said the project will help to increase visitor arrivals to Exuma and improve access to services that are not provided on the island. He added that the airport will also boost Exuma’s resilience against climate change and provide a stable hub for disaster risk management in the Family Islands.
“These are the projects that we are really, really proud of that change the economy, tourism because it connects, it increases the scale, it brings more people, but it also has other aspects that are important. It means that we can provide more connections to the people of this island, to some of the services are not here, so we
Exuma. Chester Cooper, deputy prime minister and minister of tourism, investment and aviation, said the project is a “transformative investment” that will help boost the destination as a “leader in high-end tourism”.
“The Bvlgari Resort & Mansions at Cave Cay is a transformative investment that underscores the exceptional appeal of the Exumas on the global stage. This project goes beyond luxury; it represents a significant step in our strategy to drive sustainable economic growth, create meaningful opportunities for Bahamians, and establish the islands of The Bahamas as a leader in high-end tourism,” Mr Cooper said.
“We welcome this partnership and its potential to redefine what it means to experience our destination.” The Cave Cay project will feature a marina as well as a spa, wellness centre, multi-sports enclave, kids’
club and boutiques, as well as bars and restaurants offering menus curated by three Michelin-starred chef, Niko Romito.
Bvlgari Hotels & Resorts currently has 13 properties worldwide, including in Milan, London, Bali, Dubai, Shanghai, Beijing, Paris, Tokyo and Rome.
Felipe MacLean, director of Cave Cay Ltd, said the partnership will help position Exuma as “one of the most sought after destinations in the world”.
“For the past several years we have made a commitment to partner with the Bahamian government, and to help position the Exumas as one of the most soughtafter destinations in the world. The Bvlgari Resort & Mansions at Cave Cay will do exactly that,” said Mr MacLean.
Jean-Christophe Babin, Bvlgari, chief executive, said the project is the first for the group in the Caribbean and is expected to
“shine as the ultimate sustainable luxury destination” for the region.
“The Exumas have been establishing themselves in recent years as the ultimate glamorous destinations in the Caribbean, attracting the most prestigious and sophisticated clients,” said Mr Babin. “We are thrilled to present such an extraordinary project, which will become not only the first Bvlgari Resort in the Caribbean but also a new point of reference for the community of upscale and discerning travellers who already know and appreciate the other ‘gems of hospitality’ in the Bvlgari Hotels & Resorts Collection.
“We envision the Bvlgari Resort Cave Cay to shine as the ultimate sustainable luxury destination and experience in the region, crafted by the Roman jeweller of hospitality.”
need to connect,” said Mr Goldfajn.
“We do know that we are facing climate change, and that means that we need resilience, and we need disaster risk management and having connections to transport is also helpful, not only in the good times, but also in the bad times. So this airport is important for the good times, for the economy, for the jobs, but it’s also good for health clinics, also for infrastructure and for resilience to what we’re going to face.”
Charlene Collie, project engineer, said the airport redevelopment is well underway with site vegetation already cleared and a new taxi lane being implemented. She added that new fire-fighting equipment is already on site and sustainable drainage infrastructure is being installed.
“We have already purchased a new four by four striker air rescue firefighting equipment, the fire truck. There’s removal of vegetation within the site, along the periphery of the runway strip, takeoff approach surfaces and regrading to improved
positive drainage for the aerodrome,” said Ms Collie.
“The works that we’re doing here will increase the service life of all the pavement surfaces to a minimum 20-year life span to receive traffic from the 737 up to the 800 series. There’s a new taxi lane, and we’ve also improved the size of the apron to a minimum of 120 feet wide by 590 feet long.
“We’re also constructing new turning pads, and runway and safety areas at both ends, and we’ve also created a turning bay. We call it the jug handle at the runway end. We’re also creating a sustainable drainage infrastructure through the construction of wells, open channel surface drains and detention ponds that not only accommodate today’s run-off, but also considers the climate change effects as well.”
CAVE CAY ISLAND RENDERING
CHESTER Cooper tours Exuma’s international airport during a site visit to Georgetown.
New Providence energy grid overhaul ‘progressing well’
Mr Ferguson said the “outstanding matter” has “nothing to do” with the relationships between the parties overseeing New Providence’s electrical grid transformation, adding that “all of them [agreements] have been signed”. He continued: “It is just one item that has got to get done. I can’t really say [what it is], but hopefully it will be concluded by the end of the week.”
Tribune Business sources, speaking on condition of anonymity, yesterday tipped this paper to what they alleged was a pull-out or work stoppage by Pike Electrical as it pushes to obtain all necessary agreements to solidify its status within the next two weeks. However, this newspaper’s photographer obtained photos of multiple Pike trucks and other vehicles at their western New Providence meeting and mobilisation point. Still, increasingly fevered speculation was mounting on social media last night amid claims “Pike
gone” with photos being circulated of an empty site where electrical equipment to facilitate the New Providence grid’s upgrade had allegedly been stored previously.
It was suggested, though, that the “outstanding matter” may relate to the planned transfer of BPL staff to Bahamas Grid Company and Pike given that their existing industrial agreements could act as an obstacle to effecting this. Bahamas Grid Company, on its website, said that as of January 18, 2025, it has set 181 new electrical distribution poles on New Providence to ensure the delivery of reliable energy to homes and businesses, as well as replaced 58,000 wires with newer cables that “can efficiently carry more power”.
It added that it has already spent 1,500 hours on emergency work to help BPL respond to outages and restore power, and installed 47 IntelliRupters island-wide to help isolate problems and confine outages to specific areas. And some 49 street lights have
also been replaced and upgraded.
“Bahamas Grid Company’s first-year goal is two-fold: To help reduce the frequency and duration of outages in New Providence when requested by BPL in a way that all Bahamians can see the difference,” it said. “And invest in New Providence’s grid system and strengthen it so that it is properly sized to support our nation’s economy and population.
“After the first year, Bahamas Grid Company will continue to manage the transmission system, distribution system and substations on an ongoing basis to ensure system reliability, affordability, resiliency and authenticity.”
Bahamas Grid Company and its management firm, Island Grid, paired $100m in bond debt capital raised from Bahamian investors with $30m in equity also raised locally to complete the $130m in financing required to complete “foundational upgrades” to the transmission and distribution network it now controls.
Eric Pike, Island Grid’s principal, also heads Pike Electrical. The arrival of Pike-branded bucket trucks last summer signalled their intention to make aggressive progress given that the bond offering document said a 2024 third quarter start is critical to meet the initial 2025 second quarter completion.
The Government, via BPL, has a minority 40 percent ownership interest in Bahamas Grid Company in exchange for contributing New Providence electricity grid assets valued at $100m, whereas the private investors who put up the $30m equity have 60 percent majority control.
Bahamas Grid Company is forecasting that its grid improvements will generate between $10m-$30m in annual savings per year at the start of its initial 25-year term through “less line loss and reduced outages”. It will also install an additional 172 mega watts (MW) of grid carrying capacity between Clifton Pier and the rest of New Providence, and is promising grid operating costs
and consumer bills will be reduced. The joint venture is pledging a “reduction in frequency and duration of large-scale outages, enabled by the substation protection schemes”. It is also promising “fewer appliance issues stemming from the distribution upgrades, which will reduce voltage fluctuations on parts of the island that are most impacted by them”. There will also be “less line/voltage loss, or more power delivered with the same fuel use, resulting from the transmission upgrades. The ongoing cost savings associated with this benefit will sustain the residential utility bill reductions beyond year one”. “Strains on a transmission and distribution system arise when too much power is pushed through equipment that is not sized to handle the load,” Bahamas Grid Company said.
“As such, when there is a new significant generation source or high-usage customer being proposed to interconnect with the system, Bahamas Grid
SECURITY FORCE INSURANCE ARREARS ‘WITHIN TOLERANCE’
FROM PAGE A24
owes Colina, our insurance carrier, in excess of $100m.
“This unpaid obligation raises urgent and critical questions about the safety and security provided to us who serve on the front lines to protect the Commonwealth of The Bahamas,” the Association added.
“The real impact is that Colina has threatened to cancel policies because of the Government’s continued promises to settle this debt and continue to pay it consistently until it is completely paid.
“However, the Government has once again failed to live up to its obligations and its promises. This is a recurring payment and was a part of last year’s fiscal Budget.” Ricardo Walkes, the Police Staff Association’s executive chairman, did not respond to attempts to reach him for comment before press time last night despite multiple attempts to do so.
However, Tribune Business sources with high-level contacts in the Royal Bahamas Police Force and the Association confirmed that both the document, and sentiments it conveyed, were genuine and authentic.
And this newspaper knows that the issue of unpaid health insurance premiums, and the fear Colina may cancel coverage as a consequence, is causing alarm and disquiet among many police officers. This is based on feedback that Tribune Business has received privately, and is separate and apart from the concerns raised by the Police Staff Association. The 2024-2025 Budget earmarks a total $70.064m to be paid-out this fiscal year to cover insurance premium payments on behalf of public officials, with this sum forecast to increase to almost $75m by the 20262027 fiscal year.
The Ministry of Public Service, under whose budget these insurance payments fall, was shown as owing a total $13.609m in total arrears, unpaid invoices and unbudgeted spending some 12 months ago during the 2023-2024 mid-year Budget, so the leap to the Association’s suggested $100m debt liability would be significant if accurate.
Mr Munroe, who confirmed he was aware of the Association’s notice, said he had checked with Michael
Halkitis, minister of economic affairs, who had confirmed to him that the $100m figure was not correct. “What is surprising, if it was true, is that they have made no attempt to meet with the ministry or minister,” the minister of national security said of the Association.
“It seems to be something, for want of a better word, political with a small ‘p’ rather than a large ‘p’.” He told this newspaper that the Association’s concerns over medical and health insurance coverage were not new, and each issue had been addressed by either the Government or senior Royal Bahamas Police Force officers previously.
As an example, Mr Munroe said the Government had clarified that dropping insurance coverage for dependents of police officers only applied to those recruited after the Budget year began on July 1 and had yet to begin training. And he added that Deputy Commissioner of Police, Kirkwood Andrews, had also dispelled fears over an officer’s alleged inability to get coverage and a dependent’s death as the policy was still in force.
Pointing out that all police officers are governed by the Police Service Act and other laws in their conduct, and asserting that they have a duty to be accurate with information presented publicly, Mr Munroe argued that the Association had presented no evidence to support the $100m figure and assertion that Colina is preparing to cancel coverage.
“It’s troubling that in the face of inaccurate information they would publish that,” the minister told Tribune Business. “They cannot produce any document that says the policy is not in force, and cannot produce any document that says the Government owes money to Colina.”
Mr Munroe, while confirming outstanding premiums are due to the Bahamian life and health insurer, added that any arrears were within the limits of the two sides’ business relationship. “I’ll put it to you like this: I’d be surprised if any vendor or business is not owed some money,” he said. “Everyone knows governments and large organisations all have credit relationships with their vendors.
“The question is: Is it within the tolerance of the relationship? From what I understand it’s within the tolerance of the relationship. What’s personally disappointing is that, when I was appointed minister, I made it a point to meet with the Police Staff Association, meet with the Prison Staff Association, meet with the Defence Force officers to let them know we have an open door policy on any issues they may have.
“And if we could not resolve their issues, we would tell them we cannot address them and direct them to where they needed to go. The Prison Staff Association frequently comes to the ministry with any issues they have, but this group [the Police Staff Association] does not.”
Mr Munroe explained that the same Colina medical insurance policy also covers Defence Force and prison officers, as well as police officers, thus embracing all the security services. “I don’t know why they keep bringing it up when nobody has been refused service based on the policy,” the minister told Tribune Business
Company and BPL will work together to ensure that the new customer load or new generation capacity adequately pays into the system for the needed upgrades.
“This dual BPL-Bahamas Grid Company approach enables the much-needed infusion of capital into New Providence’s utility transmission and distribution infrastructure and support systems, as well as the ability to systematically plan for future maintenance needs – both of which are prerequisites to our nation’s ability to introduce cleaner generation sources and customers on to our system.”
The proposed Heads of Agreement with the Government will allow Bahamas Grid Company, in addition to the 5.5 cents per kilowatt hour (KWh) it is set to receive from all customer billings, to levy a “one-time interconnection fee or demand charge” for “new generation and/ or large customer loads” added to the grid.
“The policy is kind of strange in some of its conditions; you cannot go abroad without a referral, but every policy has its terms.” Tribune Business sources yesterday confirmed that substantial health insurance premium arrears is nothing new for the Government with the issue pre-dating the Davis administration.
Well-placed sources, speaking on condition of anonymity, said sums owed to Colina “probably got to near $40m” under the former Minnis administration. “I don’t think it got a lot higher than that,” one contact familiar with events at the time revealed.
“We were always conscious of it because they [Colina] put a lot of pressure on us. They had a lot of carrying capacity but it was a cost to them because they were paying out-of-pocket” to cover health and medical coverage costs for members of the Bahamian security forces until due premiums were paid.
E-mails and calls to Colina Insurance Company’s spokesperson, who is Opposition senator, Maxine Seymour, were not responded to before press time last night. Mr Halkitis and Simon Wilson, the Ministry of Finance’s financial secretary, also did not respond to messages seeking comment.
Legal Notice of Dissolution
NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of LIVEX HOLDINGS INC. has been completed and the company was struck from the Register on the 31st day of December, 2024.
Delco Investments Limited Liquidator NOTICE LIVEX HOLDINGS INC.
CHAN HENG FAI LIMITED
N O T I C E IS HEREBY GIVEN as follows:
(a) CHAN HENG FAI LIMITED is in voluntary dissolution under the provisions of Section 138 (4) of the International Business Companies Act 2000.
(b) The dissolution of the said company commenced on the 4th February, 2025 when the Articles of Dissolution were submitted to and registered by the Registrar General.
(c) The Liquidator of the said company is Leeward Nominees Limited, of Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, British Virgin Islands.
Dated this 5th day of February, A. D. 2025
Leeward Nominees Limited Liquidator
L.EU.T Art Ltd.
NOTICE IS HEREBY GIVEN that pursuant to section 138 (8) of the International Business Companies Act 2000 the dissolution of L.EU.T. Art Ltd. has been completed and the company was struck from the Register on the 31st day of December, 2024.
Delco Investments Limited Liquidator
International Business Companies Act (No. 45 of 2000)
PI resort developer spars with opponents over Atlantis lease
permission to occupy a site via a lease agreement or an agreement to operate.
When pressed on whether these documents have been requested, and when they will be provided, Ms Thompson said they have been “requested under the conditions but not yet provided” and she could not give a timeline for doing so. “I cannot say at this time, and I do not wish to put a timeline before the Board and not be able to fulfill it,” she conceded.
Ms Thompson, however, argued that the Town Planning Committee’s decision also imposed conditions that the developer first obtain a Certificate of Environmental Clearance (CEC) from the Department of Environmental Planning and Protection (DEPP) before construction work can begin. It must also receive approval from the civil design section of the Ministry of Works for on-site drainage and internal driveways.
“The appellant considered this conduct a fundamental breach of company policy which undermined the trust and confidence inherent in the respondent’s contract of employment,” the Court of Appeal added.
Mr Babbs then met Kenneth Lightbourne, Atlantis’ vice-president of labour relations, and Charlie Colebrooke, the vice-president of food and beverage, the day after his dismissal on February 15, 2022.
“He requested that his dismissal be reviewed and/ or overturned as there was no sexual intent in his message and communication with the female employee.
Mr Colebrooke and Mr Lightbourne listened to the respondent’s explanation and, thereafter, Mr Colebrooke affirmed the appellant’s position and advised the respondent that his communication with the female employee amounted to sexual harassment,” the Court of Appeal recorded.
She said all these conditions must be satisfied prior to the resort project getting the go-ahead. None have yet been met due to the project still being in its early stages, and Ms Thompson noted that if the Town Planning Committee’s approval had not been appealed a lease agreement would not have to be presented at this time.
Ms Thompson reiterated that HotelConsult is still in active negotiations with Atlantis and owners of other Paradise Island property that can be used as a parking garage. “There are negotiations pending with Atlantis as we stand, but the second respondent has other property on Paradise Island that was not placed because we are in, like I said, favourable negotiations today,” she said. “If it comes to the point that the negotiations are not favourable, then we will satisfy the conditions that are in place for approval, but the second respondent does rightfully own other property on Paradise Island
“The respondent, thereafter, initiated the appellant’s domestic appeal process and requested that his dismissal be reviewed as the allegations levied against him were false.”
The review panel charged with this task included Robbie Leming, a senior Atlantis executive; CathyAnn Cromarty-Johnson, a senior human resources representative; and Charmaine Hepburn, an employee of equal status as Mr Babbs. None had any involvement with the case prior to the appeal. “The female employee stated her case and the respondent was once again allowed to defend the allegations in the presence of the employee.
Subsequent to hearing all of the facts, the review panel agreed to uphold the decision to summarily dismiss the respondent,” the Court of Appeal added.
Undeterred, Mr Babbs then appealed his firing to the Industrial Tribunal. Its vice-president, Ingrid Cooper-Brooks, rejected his claim for unfair
NOTICE
NOTICE is hereby given that ANIA COFFEY of P.O. Box SB63158 8C Honeycombe Suite, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that OTTILIE JOSEPHINE COFFEY of P.O. Box SB-63158 8C Honeycombe Suite, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
and it can be probably revisited.”
Paradise Yacht Club will feature 101 units overlooking Nassau Harbour via a seven-storey main building with a footprint of around 19,000 square feet. The 101 units, ranging from approximately 370 to more
dismissal in her May 24, 2024, verdict by finding that Atlantis had conducted “a fair and reasonable investigation” into the complaint against the ex-restaurant manager and “had reasonable grounds on which it honestly believed on a balance of probability” he was guilty of misconduct.
However, she found Mr Babbs had been unfairly dismissed because Atlantis had “withheld information to which he was entitled” - namely a written copy of the accuser’s witness statement and claims. The Industrial Tribunal found this “ought to have been provided as a normal part of discovery and procedural fairness, particularly since he requested it”.
And Ms Cooper-Brooks also found that Atlantis breached its own policy manual and procedures for handling staff suspensions by not paying Mr Babbs for the two days when he was suspended. She then awarded him $31,200, or a year’s pay, for his unfair dismissal.
than 1,000 square feet, will each have a balcony with harbour views. The ground floor will host amenities such as a restaurant and retail areas, along with an outdoor gym and swimming pool
HotelConsult Bahamas, the developer, pledged that
Atlantis appealed that award, pointing out that the accuser’s entire statement was read to Mr Babbs and that he was shown a written copy. The Paradise Island mega resort, attacking the finding of “procedural unfairness”, also argued that the ex-restaurant manager was allowed to “face and confront” his accuser during the hearings.
Ferron Bethell KC, of the Harry B Sands, Lobosky & Company law firm who was acting for Atlantis, argued that Mr Babbs had failed to provide any details to support his wrongful and/ or unfair dismissal claim. His only complaint was that he did not have a fair hearing because Mr Bowleg, an executive director with whom he had “a contentious relationship”, presided at his appeal hearing.
However, the Industrial Tribunal found this was “unsubstantiated” because no evidence was provided to support this claim. Mr Bethell, though, argued that it was unreasonable for the Industrial Tribunal to base its unfair dismissal verdict on Atlantis’ failure to provide Mr Babbs with a copy of his accuser’s
NOTICE
NOTICE is hereby given that GREGORY JOHN COFFEY of P.O. Box SB-63158 8C Honeycombe Suite, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that LUELLA SOPHIA COFFEY of P.O. Box SB-63158 8C Honeycombe Suite, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
the project will create 100 permanent jobs and a similar number of construction posts, and generate up to 30 percent of its energy needs from renewable sources.
During the initial public hearing for the development, residents voiced concerns over the extra
written statement given all the other procedural efforts to accommodate his appeal.
But Sidney Collie, the former Cabinet minister representing Mr Babbs, argued that “the misconduct alleged, even if it was true, could not amount to gross misconduct. Further, that the letter of hire did not list gross misconduct among the offences for which he could be terminated.
“Secondly, counsel contended that the appellant did not conduct a fair and reasonable investigation. He contended that the respondent was never given or even shown a copy of Ms Cartwright’s statement against him; that it is not enough for Mr McKenzie to read from the complainant’s statement with the excuse that it was not the company’s policy to provide the documents to the accused,” the Court of Appeal added.
“If this is done, as it was in this case, the respondent correctly argued that he had no way of verifying if what was being read in his hearing was what was actually reported by the complainant.” The Court of Appeal, though, found it was wrong for the Industrial Tribunal to ground its decision on
traffic it will generate in a residential area of Paradise Island. They also expressed opposition to the proposed rezoning of one of HotelConsult’s land parcels, lot 13, from residential to commercial to facilitate a 74-space parking facility.
The developers later amended their application, removing the plans to convert lot 13 to a parking garage and opting to build a 100-space car park on land leased from Atlantis. The site will take up a portion of Atlantis’ laundry and utilities facilities, which is already commercially zoned.
The Town Planning Committee, on granting its approval, said the proposed parking garage is to be built simultaneously with the renovation of the Yacht Club building, and the lease agreement between HotelConsult and Atlantis must be submitted to the Department of Physical Planning prior to it reviewing the building permit application.
Mr Babbs not being given a written copy of his accuser’s statement.
“In considering this issue I have given consideration to the fact that the only real difference between the complainant’s version and that of the respondent is that he denies asking her to show him her ‘sexy body’ if she wanted to get the transfer on her job,” appeal court president Evans wrote.
“He admitted asking her to turn on the video but denied requesting to ‘see her sexy body’. Management believed the complainant’s version of the conversation and not that of the Respondent. The learned vice-president accepted that management conducted a reasonable investigation and honestly believed that the respondent had committed the offence.
“In these circumstances, I can see no reason why the omission to have a copy of the statement would render the dismissal unfair.” As a result, the Court of Appeal upheld Atlantis’ appeal and overturned the prior $31,200 award to Mr Babbs.
NOTICE
NOTICE is hereby given that JEAN RICHE of Cherokee Sound, Abaco, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 5th day of February, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
NOTICE is hereby given that FREDERICK JOHN COFFEY of P.O. Box SB-63158 8C Honeycombe Suite, New Providence, The Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 29th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
NOTICE
Babbs Lane, New Providence, Bahamas, applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 30th day of January, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.
THE proposed Paradise Yacht Club hotel on Paradise Island.
FTX Bahamas ‘shoots for’ February 18 first payout
into Supreme Court-supervised liquidation in early November 2022. The payment process could extend to March 4, 2025. The fact they will recover more than they are owed is because 9 percent interest has been accumulating on their asset principal since that date. The February 18 payout date is also consistent with the timeline unveiled by the FTX Digital Markets liquidators in their January 2025 statement, which confirmed they had reached an agreement with BitGo that will see the latter distribute recoveries to former customers and other creditors.
“Eligible customers/ creditors in supported jurisdictions will be invited to create a Bitgo ‘Go’ account and receive their distribution in US dollars fiat into this account. Go accounts
can be used to store US dollars or other digital assets using a qualified custody model through Bitgo Trust Company,” the FTX Digital Markets liquidators added. “They also connect directly to BitGo’s Go network, connecting users to other enterprises, platforms and exchanges, enabling a secure and instant way to allocate, trade and settle assets. Distributions for convenience class customers/creditors satisfying pre-distribution requirements will commence from February 2025, with distributions to non-convenience class customers/creditors expected to commence in the second quarter of 2025.” Mr Simms, in an August 15, 2024, affidavit filed with the Supreme Court, asserted that FTX’s former creditors and customers will enjoy “a remarkably
favourable outcome” via a multi-billion interest gain while recovering all their principal. He added that the 9 percent interest applied following FTX’s November 2022 collapse could result in a $2bn collective gain for victims through to October 31, 2024.
And Mr Simms also disclosed that victims could enjoy a further collective $800m gain from interest continuing to be paid at 9 percent from end-October until their claims are paid in full. That would make for a total $2.8bn gain, in addition to the anticipated $11.2bn in claims accepted by both Mr Ray and the Bahamian liquidators.
“The joint official liquidators believe that payment of post-petition interest on accrued eligible Digital Markets customer claims and Digital Markets
non-customer claims is a remarkably favourable outcome for creditors and customers,” Mr Simms asserted.
“Assuming that the effective date of the plan is October 31, 2024, and the total estimated amount of allowable creditor claims is approximately $11.2bn, the post-petition interest payment could provide approximately $2bn of incremental value to creditors through to the effective date of the plan.
“After the effective date, creditors would continue to earn 9 percent interest on the unpaid portion of their claims from the petition date until paid in full, resulting in approximately $0.8bn ($800m) of incremental value to creditors.”
FTX’s Bahamian liquidators, in earlier advice distributed to creditors, estimated that so-called
‘convenience class’ customers would recover sums equal to 119 percent of the value of their approved claim. n the case of larger victims, who wait longer to receive their payout, this was forecast to rise to between 129 percent to 143 percent.
“These customers will receive a one-time, full and final distribution equivalent to 100 percent of their reconciled claim value based on the conversion rates as at 11 November, 2022, approved by the Bahamas Court, and an amount representing post-petition interest of 9 percent per annum on the reconciled claim value from the reference date of 11 November, 2022, through the applicable distribution date,” the Bahamian liquidators said of ‘convenience’ claims.
“The joint official liquidators currently estimate that
this will amount to a payment of approximately 119 percent of the reconciled claim value for convenience class customers.” As for those owed more than $50,000, they added: “At present, the joint official liquidators currently estimate that this will amount to a payment of approximately 129-143 percent of the reconciled claim value for non-convenience class customers of FTX. com. “Distributions will be made via selected payment processors or crypto currency exchanges and service providers. We expect to offer retail customers a choice between short listed distribution agents. NFTs (non-fungible tokens will be returned to customers (where available) via a transfer to a selected wallet address.”
Trump’s tariff tactics carry higher economic risks than during his first term
By PAUL WISEMAN AP Economics Writer
WHEN Donald Trump started the biggest trade war since the 1930s in his first term, his impulsive combination of threats and import taxes on U.S. trading partners created chaos, generated drama -- and drew criticism from mainstream economists who favor free trade. But it didn't do much damage to the U.S. economy. Or much good. Inflation stayed under control. The economy kept growing as it had before. And America's massive trade deficits, the main target of Trump's ire, proved resistant to his rhetoric and his tariffs: Already big, they got bigger.
The trade war sequel that Trump has planned for his second term – if it unfolds
the way he's described it –would likely be a different matter altogether. Trump appears to have grander ambitions and is operating in a far more treacherous economic environment this time.
His plans to plaster tariffs of 25% on goods from Mexico and Canada and 10% on China – and to follow those up by targeting the European Union – would threaten growth, and push up prices in the United States, undermining his campaign pledge to eliminate the inflation that plagued President Joe Biden. The tariffs would be paid by U.S. importers, who would then try to pass along the higher costs to consumers through higher prices. Trump himself has warned of possible fallout. "WILL THERE
BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!)," Trump said in a social media post Sunday. "BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID."
For now, some of the hostilities are on hold. Trump on Monday paused the tariffs on Canada and Mexico for 30 days to allow more negotiations after those countries agreed to do more to stop the flow of illegal drugs and undocumented workers into the United States.
But he went ahead with the 10% tariffs on China Tuesday. Beijing promptly retaliated by imposing tariffs on U.S. products, including coal and big cars. It also is restricting exports of critical minerals
and launching an antitrust investigation into Google.
Trump views tariffs –taxes on imports – as an economic elixir that can restore factories to the American heartland, raise money for the government and pressure foreign countries to do what he wants.
During his first term, Trump put tariffs on most Chinese goods and on imported solar panels, washing machines, steel and aluminum. The tax increases might have raised prices on those items, but they had little or no impact on overall inflation, which remained modest. Nor did
they do much to restore factory jobs.
Economists agree that a second Trump trade war could be far costlier than the first.
"That was then. This is now,'' said trade analyst William Reinsch of the Center for Strategic and International Studies. That is why the stock market briefly fell sharply Monday on anticipation of the tariffs, before rebounding on news of the pause with Mexico and Canada.
During Trump's first term, his trade team carefully focused its tariff hit list to avoid or at least delay the
impact on consumers. They targeted industrial products and not those "that would show up on Walmart's shelves," said Reinsch, a former U.S. trade official.
"That tamped down the impact.''
This time, by contrast, the tariffs are across the board – although the tariffs Trump had planned and then paused would have limited the levy on Canadian energy to 10%, showing that he was mindful of how much Americans in northern and midwestern states depend on oil and electricity from north of the border.
