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FRIDAY, JANUARY 21, 2022

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Hilton closure shows city ‘not functioning’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

• DNP co-chair: ‘You never see a Hilton shut in a city’ • Shows how ‘deep and difficult’ it is to revive Bay St. • Gov’t, private sector need rethink over downtown

THE DOWNTOWN Nassau Partnership’s (DNP) co-chair yesterday said the British Colonial’s closure shows the destination “is not functioning”, and added: “You never see a Hilton shut in a city”.

Charles Klonaris told Tribune Business that the resort’s plight highlights the wider ills still gripping downtown Nassau as he urged both the Government and private sector to rethink plans for reviving Bay Street and the wider city area.

Asserting that all retail, restaurant and attraction operators “should be concerned” by the situation, he argued that the British Colonial’s fate went beyond just the immediate impact on them. “It’s more than

BRITISH COLONIAL HILTON

just myself and other retailers,” Mr Klonaris told this newspaper.

“It’s indicative of how deep and difficult it is to revive the city. Obviously there have been some improvements thus far, but for the Hilton to close it’s an indication that the city is not functioning properly. The Government needs to look at the city itself. As it stands, it is not functioning properly.”

While the Nassau Cruise Port’s near-$300m transformation is intended to act as a catalyst for the city’s revival, and spur both landlords and businesses to enhance their properties and product offerings, Mr Klonaris added that “the locals are not benefiting from that right now”.

“It’s a sign that the city has more serious problems than what you see on the surface,” the DNP co-chair

SEE PAGE 5

Pintard accuses Gov’t on financial disclosure

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Opposition’s leader last night accused the Government of failing to comply with financial transparency and disclosure laws “in multiple ways” while not adhering to its campaign promises.

Michael Pintard, in a statement issued to the media,

sought to turn the tables on the Davis administration by arguing it has thus far failed to meet its own accountability and transparency pledges in relation to four separate Acts.

Hitting back against the narrative the Government has recently sought to deploy against the former Minnis administration, regarding financial disclosures and the use of taxpayer monies by both

the COVID food assistance programme and Bahamas Public Parks and Beaches Authority, he asserted that the Davis administration was guilty of “empty rhetoric”.

Seeking to support his argument, Mr Pintard said the Government had failed to publish the 2021 Fiscal Strategy Report, which provides the foundation for the

SEE PAGE 3

MICHAEL PINTARD

Bimini Bay developer to pay $600k on boat theft

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BIMINI Bay’s original developer has been ordered to pay almost $600,000 plus interest after being found guilty of negligence over the theft of a 41-foot yacht from its marina.

Justice Ian Winder, in a January 17, 2022, ruling found there was “compelling evidence” to support allegations that RAV Bahamas, the company founded

by Cuban-American developer, Gerardo Capo, had “breached its duty of care” towards the owner of the Rum N’Coke which was stolen from the marina on August 19, 2009.

He based this on the report produced by Bimini Bay’s security department three days after the theft occurred. This described how a marina employee, O’Neil Rolle, who was described as a dock master, recalled how he allegedly received a call from Anthony Modrono, the yacht’s owner, requesting that the water line be cleaned, and air conditioning and fresh water pump turned on.

Mr Rolle agreed to do this for $400, but never verified that it was actually Mr Modrono he spoke to. “Mr Rolle met an individual whom he assumed was a captain, who paid him the sum of $400, the amount

SEE PAGE 8

Unions must ‘come to grips with reality’ over COVID wage increase

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A TRADE union leader yesterday pledged that organised labour will not employ strong-arm tactics to achieve inflation-matching wage increases, adding: “We must all come to grips with reality.”

Obie Ferguson, the Trades Union Congress (TUC) president, told Tribune Business that the unions could not ignore the devastation inflicted by COVID-19 on companies and the wider economy in

their industrial negotiations and other dealings with private and government sector employers.

Asserting that unions, and workers generally, were all too aware of the pandemic’s economic fall-out, he added that organised labour would not be unduly aggressive in seeking salary hikes despite facing inflation that James Smith, ex-finance minster and Central Bank governor, said could exceed the present 7 percent rate in the US.

SEE PAGE 4

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COVID insurance lapses ‘peak out’ • Policy count ‘getting back to pre-pandemic’ • VAT exemption ‘makes a huge difference’ • No taxpayer ‘back stop’; better affordability

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net BAHAMAS First’s top executive says general insurance policy lapses have “peaked out” with auto and homeowner coverage uptake closing in on pre-COVID levels as the economy rebounds.

Patrick Ward, the BISX-listed underwriter’s president and chief executive, told Tribune Business in a recent interview that the Government’s decision to leave residential homeowners insurance as one of the few remaining VAT exemptions will also “make a huge difference” as to whether Bahamians can afford such protection.

Besides creating massive refunds for the Government when multi-million hurricane claims payouts occur, he said that imposing the 10 percent levy on homeowners insurance premiums would have created “an additional burden” that might have left Bahamians unable to cover their major asset against hurricanes and other catastrophes.

While mortgage lenders often mandate that borrowers must take out homeowners insurance as a condition of the loan, and often step in to pay it if the client is unable, this only adds to the sum that must be repaid. And, if such coverage became increasingly unaffordable for those who do not have a mortgage, many will “fall back on the taxpayer” to fund reconstruction after a hurricane.

“I would say certainly that the lapse in coverage has peaked out and we are starting to

SEE PAGE 4

PAGE 2, Friday, January 21, 2022

THE TRIBUNE

HILTON CLOSURE TO HIT DOWNTOWN BUSINESS

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net DOWNTOWN Nassau businesses yesterday lamented that the British Colonial Hilton’s imminent February 15 closure will result in lost trade for their enterprises.

George Mousis, the Athena Café’s general manager, told Tribune Business: “We get a lot of business from the hotel, from pilots stopping over to people coming in for lunch because it was such a short walk away.”

The British Colonial Hilton, largely regarded as the ‘anchor’ property for Bay Street, is set to close “indefinitely” on February 15 due to low occupancies and poor financial performance caused by the COVID-19 pandemic, which has hit the corporate

market it relies on most the hardest.

The closure date also coincides with the end of the resort’s agreement with Hilton for the latter to act as its flagship brand. The British Colonial is owned

by China Construction America (CCA), the stateowned contractor that has also developed the adjacent $200m property, The Pointe, complete with a Margaritaville resort that is more suited to attract cruise and leisure tourists.

Wesley Ferguson, the Bahamas Taxi Cab Union’s (BTCU) president, added: “Our taxi drivers can easily integrate to another taxi stand, maybe downtown at the docks, to meet the cruise ships or maybe even the airport. This would only affect a minimum amount of taxi drivers anyway. We only have about 15 of them out at the British Colonial.

“This won’t have a real big effect. The Hilton wasn’t

Board unveils new marketing director THE NASSAU Paradise Island Promotion Board (NPIPB) yesterday announced it has promoted Claudette Davis to the new role of director of travel industry marketing.

The private sector body, in a statement, said Ms Davis has vast experience of the leisure travel market having been with the Board since 1989. In her new role she will support its destination marketing efforts.

“Claudette has been an essential part of the destination’s success, and this new role is indicative of her dedication to serving Nassau/Paradise Island and The Bahamas as a whole,” said Fred Lounsberry, the

Nassau/Paradise Island Promotion Board’s chief executive.

“Claudette’s years of experience and knowledge of the destination helps her understand what motivates today’s travellers, and will be invaluable as we regain our momentum to return to our record tourism levels of 2019”.

In addition to continuing to build the Nassau/ Paradise Island Promotion Board’s relationships with tour operators, airline partners, travel agents and group, incentive and meeting planners, she will work closely with its member hotels and the Ministry of Tourism to organise and

that busy. I don’t think the taxi drivers at the airport had that many fares there.

So I don’t think it’s going to have a major effect. We will just miss it because it is the iconic British Colonial Hilton in the downtown area, but I am quite sure they will be back.”

Dwayne Higgs, WHIM Automotive’s general manager, added of the closure: “That was a surprise to me.

That’s been around for a really long time. Not really sure from what I read, but it sounds like they just lost the Hilton brand.

“So I’m thinking The Pointe, which is owned by CCA, I’m thinking they’re just going to take that over and possibly just rebrand it under The Pointe. So it’s not the British Colonial closing down; it is just the Hilton brand that is not going to be operating incountry any more.” co-ordinate marketing and sales activities on behalf of the destination.

Ms Davis’ responsibilities also consist of planning and supporting major Caribbean events, plus consumer and trade shows, including the Caribbean Hotel and Tourism Association’s (CHTA) Caribbean Travel Marketplace.

She initially served as a sales coordinator at the Board, based in Nassau, before rising to the role of sales director. Ms Davis relocated to its Florida office in 2003, and was named director of marketing services.

Her educational background includes a master’s degree in international business from the University of Miami, and a bachelor’s degree in economics from York University in Toronto, Canada.

THE TRIBUNE

Friday, January 21, 2022, PAGE 3

COVID STEADILY ERODING PRODUCTIVITY, CONFIDENCE

By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE BAHAMAS Chamber of Commerce’s chairman yesterday said business output has been hit by the number of employees forced into COVID-related quarantine.

Khrystle RutherfordFerguson, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman, told Tribune Business that the longer the near two-year pandemic lasts, the more it chips away at business confidence.

“As COVID-19 persists, the business community’s optimism recedes,” she said.

“There’s no doubt there are challenges that continue.

When you look at the level of optimism that was evident last year, when we had a flatter curve - when the curve was flattened - there was some optimism that we may be nearing the end of everything that we had experienced from a COVID standpoint.

“But with Omicron that came with our fourth wave, businesses were impacted by that through the cycling out of employees that contracted COVID.” For every staff member that has to isolate or quarantine, because they either contracted

COVID-19 or were in contact with someone who had, there is a corresponding loss of productivity.

“Our businesses still had to operate with fewer staff,” Mrs RutherfordFerguson said. “We still have a number of people that are testing positive and having to quarantine.

It’s positive that the CDC (Centres for Disease Control and Prevention) and the Government of The Bahamas have reduced the quarantine period once you catch COVID, and you can return to work after seven days as opposed to the 14 working days, so that’s positive.”

While Omicron variant is more contagious

than previous COVID-19 strains, its symptoms appear to be milder. “But, notwithstanding all of the silver linings, there is still the issue regarding the supply chain, and members are noticing that suppliers continue to go up on the prices of goods,” Mrs RutherfordFerguson said “Certain members have even indicated that the cost to bring containers from Europe has gone up by some 40 percent, and that whereas before to secure special orders, or even regular orders, you could place the order and, in four to six weeks pre-COVID, you had the goods on the dock. Now there’s a three to

four-month minimum delay in getting goods in country.”

Supply chain challenges will persist through 2022, many analysts have predicted, with shipping containers stalled between China and the US. There is also a truck driver shortage for transporting goods through the US to other ports to get them to The Bahamas.

Mrs Rutherford-Ferguson added: “These are definitely areas that cause concern. Prices in segments of industry have gone up, too. Construction retail, for instance. The price of lumber has gone up. We saw last year where the price of lumber went up astronomically. But even

PINTARD ACCUSES GOV’T ON FINANCIAL DISCLOSURE FROM PAGE ONE Government’s economic and fiscal planning, and annual Budget, by the third week of November as mandated by the Fiscal Responsibility Act. Although the Minnis administration itself missed that deadline, releasing the 2020 Fiscal Strategy Report in December that year while blaming fall-out from the COVID-19 pandemic for the delay, the Opposition’s leader said the Government had failed to produce the 2021 version as it had promised to do “immediately” after the Supplementary Budget debate which ended in early December.

Mr Pintard added that the Public Debt Management Act, which was brought into effect on July 1 last year, requires via its sections 11 and 12 that the Government’s annual Debt Management Strategy be published at the same time as the Fiscal Strategy Report. This deadline, too was missed, and with the House of Assembly out until January 26 there is little chance of it being debated by month’s end.

The Opposition leader also argued that the Government is non-compliant with the Public Financial Management Act’s requirement, as set out in its sections 69 and 132, to produce monthly fiscal reports in addition to the quarterly ones already being released.

However, the Minnis administration seemingly did not conform to this, even though it was in office for all of July and August.

And, finally, Mr Pintard reiterated previous

accusations that the Government is in breach of the Public Procurement Act by failing to publish details on the winning bidders for all government contracts awarded between September 1 and November 21, 2021. He added that the Act requires all state-owned entities to do the same.

Section 61 of the Public Procurement Act seemingly places the burden on the “procuring entity” to “publish within 60 days of the award of the procurement contract, a notice of the award of the procurement contract”. This must include the winning bidder’s name and address; contract amount; bid title; name of the procuring entity; and bidding method used.

Simon Wilson, the Ministry of Finance’s financial secretary, last night indicated to Tribune Business via messaged reply that both the 2021 Fiscal Strategy Report, and first-ever annual Debt Management Strategy, are close to being publicly released once the text is approved. “Once the final print is approved they would be released,” he said.

Senator Michael Halkitis, minister of economic affairs, was said to be in a meeting and could not be reached for comment before press time. However, he has previously said that elements of the Public Procurement Act are to onerous and bureaucratic, and are effectively acting as an obstacle to daily government efficiency in sourcing goods and supplies.

However, several sources, speaking on condition of anonymity, have argued that

mechanisms exist within the Act to permit “emergency” bidding and deal with the concerns cited by Mr Halkitis in relation to that Act. Mr Pintard, though, told Tribune Business: “There are multiple ways in which the Government is not following the law, and I want to put them on the front burner.” Referring to the four Acts cited, he said in a statement: “Unfortunately for the Bahamian people, today the present Davis administration is in breach of many of the core accountability and transparency elements of these laws.

“Put simply, they are breaking the law. The Davis administration is already displaying troubling signs consistent with the last time the PLP were in office. They are late on critical reporting to the nation, making a mockery of their commitment to accountability and transparency.”

Some observers may argue that Mr Pintard is himself seeking to distract from concerns involving the COVID food assistance programme and Bahamas Public Parks and Beaches Authority, but the Opposition leader argued that they had not explained “the extended tardiness” relating

to the delayed Fiscal Strategy Report.

“Their failure to produce their medium-term fiscal strategy is especially concerning given the potential impact of the recent tax policy changes on the Government deficits and debt.,” Mr Pintard argued.

“The Government’s own published analysis - prepared by the University of the Bahamas - said on page two that the recent tax change would lead to a ‘worsening of the current account, the fiscal deficit and the debt-to-GDP ratio.

“With this prospect of a deteriorating fiscal situation, it is even more critical that the Government releases its 2021 fiscal strategy report immediately and share with the Bahamian people how it intends to move the country back toward balanced budgets and a sustainable debt trajectory.”

As for the Public Procurement Act, Mr Pintard said there was “absolutely no good reason why” why the contract awards and required details were not being published. However, Mr Wilson previously said a chief procurement officer must be appointed before contract awards are

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disclosed as the entire Act revolves around this post and its functions.

Implicitly criticising the former Minnis administration, he told Tribune Business that the post should have been created via the Public Service Commission one year before the Public Procurement Act was implemented on September 1, 2021. Instead, it had been “left to fall into place and it doesn’t fall into place that easily”.

now the prices of lumber have gone up almost as high as the highest point last year.

“So inventory is impacted, and that means that across retail, not just construction retail, but across retail, you may have even seen yourself that going into various stores you cannot depend on the brand that you previously enjoyed being in the stores, month to month.

“Businesses are making their most concerted effort to ensure that the inventory remains high where possible, but it’s just been impacted by supply chain woes.”

“It’s not a magic wand.

There’s a process to getting this done,” Mr Wilson said.

“By September 1, nothing was done in the public service to create the post of chief procurement officer.

“To me, it’s pretty straightforward. The Procurement Act revolves around the creation of a Procurement Department. The Procurement Department is responsible for enforcing the Act and ensuring compliance.”

Its proper set-up, and that of the Public Procurement Board, had also not occurred before the Act was implemented on September 1.

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PAGE 4, Friday, January 21, 2022

COVID INSURANCE LAPSES ‘PEAK OUT’

FROM PAGE ONE see a return to pre-COVID levels in policy count and take-up,” Mr Ward told this newspaper. “Auto insurance was by far the biggest area of policy drop-off.”

While unable to provide figures, he added that “some of it was not true lapses; it was more a question of late renewals. It’s [coverage] not quite to pre-COVID levels but it’s getting back there”.

This, Mr Ward said, will be aided by the Government’s decision to continue the VAT exemption on homeowners insurance policies. This means Bahamian households will not have to pay the additional 10 percent levy on top of

already-high premium rates, although the underwriters themselves still have to pay the tax on all their input costs.

“One critical element that’s a positive development is we have not seen an adjustment in the policy as it relates to the application of VAT on homeowners insurance,” Mr Ward added. “We were happy to see the non-application of VAT remained in place otherwise it would have created an additional burden of affordability for the average homeowner.

“The absence of VAT will make a huge difference in whether the average homeowner can afford to purchase. Our concerns thankfully didn’t

materialise, and that’s a favourable development on the part of the average homeowner.”

If VAT had been implemented, and made insurance unaffordable for many, Mr Ward said it would have had “implications across the board”.

He explained: “To the extent individuals don’t buy insurance, if there is a catastrophe-related loss that will have a widespread impact.

“The Government is then going to have to be a back stop for a lot of people. It falls back on the taxpayer to fund disaster reconstruction which could have fallen on private insurers.”

Mr Ward said The Bahamas “certainly does have a coverage gap” when it

comes to hurricane-related insurance for residential and commercial properties that do not have a mortgage lender mandating that they take out coverage.

“The penetration rate isn’t high enough, and anything we can do to improve on that will be helpful,” the Bahamas First chief added.

“It’s not just a Bahamas issue; it’s a Caribbean issue, and even in developed countries there are gaps for certain types of exposure.”

Mr Ward said the number of uninsured, and/or underinsured, properties in The Bahamas was difficult to calculate, but based on evidence from recent hurricane claims settlement payouts, these accounted for a “high double digit

percentage” of the total market.

The Bahamas First president, meanwhile, said he did not foresee any widespread homeowners premium rate increases in 2022 as the underwriter had already implemented rises to better reflect risk - and satisfy reinsurers - following Hurricane Dorian in September 2019.

“In our case we’d already gone out to market to get rate increases where it was necessary, and we don’t anticipate any wholesale rate increases for 2022,” he told Tribune Business. “One-off homes may require a rate adjustment, but we certainly don’t anticipate doing it across the board.”

THE TRIBUNE

Mr Ward said some reinsurance renewals for 2022 “were a little bit tricky”, but said Bahamas First’s existing premium rates - and those that are projected a year from now - had reassured its partners as they accurately reflected the prevailing market risk.

Bahamian insurers on an annual basis have to purchase huge amounts of reinsurance to cover the multi-billion dollar risks they underwrite annually due to their relatively thin capital bases. This effectively means reinsurers have the biggest influence on property and casualty rates in this country.

UNIONS MUST ‘COME TO GRIPS WITH REALITY’ OVER COVID WAGE INCREASE FROM PAGE ONE “Obviously any inflation would have an impact on workers. That’s a fact,” Mr Ferguson told this newspaper. “I think the labour movement, certainly the trade union movement, understands the seriousness of the matter at this time the unfortunate situation that has been created by the COVID-19 pandemic, the impact it has on our country as a whole.

“Therefore, while it is not something that we welcome, the reality is we made a commitment as well. Whatever is reasonable, having regard for the interests of our members and 220,000 workers, and the interests of our economy, we will work with the Government, work with the employers, with a view to finding a win-win situation.

“It [inflation] is not something we are happy with, but the trade unions, like any other organisation, must come to grips with reality. The reality is that

COVID-19 has had a very devastating effect on the workers, the economy and the employers.”

Mr Ferguson indicated trade unions may be willing to defer or delay taking wage increases as part of their industrial agreement negotiations. “The important thing is that when we get around to negotiating an industrial agreement, and when we get into the area dealing with wages, there are many, many creative ways to reach an agreement on wages,” he added.

“There are ways that can be worked out in the best interests of workers and employers. It all depends on the attitude of both parties. It has to be reasonable,

with everyone prepared to sit down intelligently, look at the state of the economy, look at the state of the business enterprise, look at the interest of the workers and come up with something reasonable that does not disadvantage either side.”

Mr Smith had earlier this week warned that “every family can expect hardship” from rising inflation that will exceed the current 7 percent rate in the US. He told Tribune Business that The Bahamas will likely see “US inflation rates-plus” due to its consumption-based tax system that will exacerbate the impact of a sustained rise in the cost of goods and services imported from

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the country’s northern neighbour.

And, with the cost of living increasing, and living standards and disposable incomes falling, he warned that an “already depressed” economy could come under further pressure from workers demanding salary increases that keep pace with inflation. Strikes and work stoppages could result if unions fail to get their way, Mr Smith said, with pay rises possibly further fuelling inflation.

“This is happening without any changes in disposable income among the local population, so they can expect hardship that every family would experience,” Mr Smith said.

“With what essentially are fixed incomes, people will be able to buy less goods and services because of price increases, and that will have an impact on general output.

“It just compresses the economy a little bit more.

You’re paying the same for a lesser amount of goods and services being purchased, and the economy is less efficient because it is not operating at optimum output.”

Mr Smith warned this could translate into worker demands for wage increases to maintain living standards, especially in unionised workplaces, even though companies may not be able to afford this post-COVID.

“Everyone would want their income to increase, so they will be making demands for higher wages and, if those demands are met, there will be more pressure on the economy because you are taking from an economy that is already depressed, so you have a bit of a downward spiral,” he added.

“On the other hand, if you don’t pay them, you have the possibility of strikes or stoppages which affects economic output.

From that point of view we need to keep a close watch on what inflation is doing in the US because with a very short time lag we’ll be experiencing it.”

THE TRIBUNE

Friday, January 21, 2022, PAGE 5

HILTON CLOSURE SHOWS CITY ‘NOT FUNCTIONING’ FROM PAGE ONE

reiterated of the British Colonial’s looming “indefinite” closure in just under one month’s time. “It’s very seldom you see a Hilton close in a city. It’s never heard of.

“It shows how serious the problem is for them to say they have not been doing well. It’s really indicative of the state of the city of Nassau. It’s more than just the Hilton. The Hilton is really the result of a city that is not functioning.

The Government and private sector has to sit down and determine how we go forward.”

Successive administrations have targeted the city’s transformation as a policy priority over the past two decades, but progress has been painfully slow - due primarily to the difficulty of unifying a large number of property owners and businesses, with varied and sometimes competing interests, on the direction change should take.

Some momentum has been provided by the harbourfront boardwalk project; Pompey Square; and efforts to upgrade downtown’s appearance and cleanliness, but many observers would likely argue that change has been painfully slow. Efforts, for example, to establish the city of Nassau as a Business Improvement District have yet to come to fruition.

In the meantime, the area east of East Street has become a so-called ‘twilight zone’ of abandoned and derelict buildings, and minimal economic activity, every since the shipping

companies departed for Arawak Cay in 2012. And law firms, financial services providers and other highmargin, high-end businesses have continued to relocate to western New Providence in the meantime.

A solution for the city’s long-standing parking problems has also yet to be implemented, with many believing that its long-term revival lies in making it a ‘living’ destination by creating residential accommodation that will encourage Bahamians to return from the suburbs and make the area their home.

Mr Klonaris described the British Colonial Hilton’s closure as “a shame because it’s been a landmark for ever. It was the anchor going way back to when it was known as the British Colonial Hotel. It has a very rich history, and it’s sad to see it closing.

“The closure will have a serious impact on some of the small outlets in the surrounding area. Hopefully, the Margaritaville might take up some of the slack but you never recover when something as large as a Hilton operation closes down”.

Michael Maura, the Nassau Cruise Port’s chief executive, said that while the British Colonial Hilton’s history meant the closure would have an emotional impact for some, good may yet come out of it if new investment in the property is the ultimate result.

“There is an expression that ‘nothing is so bad that it’s not good for something’,” he added. “I look at it as creating an opportunity for downtown from

the perspective of a visionary investor that sees the British Colonial property, which anchors the western end of Bay Street, and who comes down and does a material renovation of that property.

“That is required because that property has aged, and you have a brand new Margaritaville next door, the relatively new Baha Mar, and Atlantis undertaking a renovation with Pharrell Williams and his partner, creating a brand new resort over there. So I think it requires that the British Colonial property undergoes a major overhaul.”

It is unclear, though, if the resort’s owner, China Construction America (CCA), the Beijing-owned contractor that is thought to have relatively deep pockets, would be interested in selling a resort it acquired in 2014 for between $50m-$60m. There was speculation last year, though, that CCA was exploring the potential sale of both the British Colonial Hilton and The Pointe.

Robert Farquharson, the Government’s director of labour, and Darrin Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (BHCAWU) president, both told Tribune Business they had been informed that the British Colonial Hilton’s closure was sparked by the hotel’s relatively poor performance and absence of any signs this will improve short-term.

The British Colonial Hilton is likely to have been hit hardest than many hotels by the COVID19 pandemic because it

catered primarily to business travellers - the market segment that has suffered most.

The 291-room property was focused heavily on the groups, meetings, conventions and conferences market that is among the last to rebound from the pandemic’s clutches.

This was not just foreign groups, which continue to be impacted by US health advisories, but the local corporate market that now relies on Zoom calls as opposed to face-to-face meetings.

Mr Klonaris yesterday agreed that the City of Nassau Revitalisation Act tax breaks were not a cureall for downtown’s ills by themselves, and conceded that “off-hand, I don’t have the answer right now” on how Bay Street and wider downtown’s revival can be achieved.

“The incentives by themselves are not the sole answer to the revival of the city of Nassau. That is not the total answer for the revitalisation of the city.

It’s much more than that.

It’s a serious problem. The Government, retailers, restaurants and developers should sit down to determine going forward how we revitalise the city.”

The incentives referred to by Mr Klonaris are those import duty, Excise Tax, VAT and real property tax breaks granted to downtown property owners and businesses by the City of Nassau Revitalisation Act if they invest in improving their assets. Yet, while the likes of Graycliff have taken advantage of these, there

has not been a wholesale take-up across downtown.

Michael Pintard, the Opposition’s leader, last night urged that “every attempt should be made to delay or avoid closure”. He said in a statement: “In the event that the discussions with the owners confirm that closure is unavoidable and time sensitive, then the Government should agitate for a phased approach to closure while efforts are made to assist workers as

they transition into other roles elsewhere.

“Every effort should be made to explore ways of helping the owners to ensure that such closure would be short-term.”

Suggest that the closure move had “caught many off-guard”, Mr Pintard questioned if CCA had requested government assistance to keep the resort open and whether the Davis administration was still negotiating on this.

PAGE 6, Friday, January 21, 2022

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, NIGEL SAJUSTE CHARLES of Nassau, The Bahamas, intend to change my name to NIGEL CHARLES SAJUSTE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, VENESHA PRATT of Nassau, The Bahamas, intend to change my name to VENESHA SYDONNY McFARLANE. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL The Public is hereby advised that I, ANTHONY EDWARD WILLIAMS of Mason’s Bay, Acklins, The Bahamas, intend to change my name to VIRGO WILLIAMS. If there are any objections to this change of name by Deed Poll, you may write such objections to the Chief Passport Officer, P.O.Box N-742, Nassau, Bahamas no later than thirty (30) days after the date of publication of this notice.

THE TRIBUNE

NOTICE NOTICE is hereby given that RENEL JOSEPH of Yellow Elder, Lightbourne Street, P.O. Box N356 Nassau, Bahamas, is 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 14th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE NOTICE is hereby given that MAXONE PHILIPPE of Murphy Town, Abaco, Bahamas, is 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 20th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

SINO MARINE GLOBAL LIMITED (In Voluntary Liquidation) Company Number: 1834891 Notice is hereby given pursuant to Section 204(1) (b) of the BVI Business Companies Act, 2004 that the Company is in voluntary liquidation.

The voluntary liquidation commenced on 30 December 2021. The Liquidator is Martina Edwards of Zedra Trust Company (Suisse) SA, Zw. Zurich, Stockerstrasse 43, 8002 Zurich, Switzerland.

NOTICE

NOTICE is hereby given that NATALIE CLAIRE ASHFORD-HODGES of Deep Creek, Eleuthera, The Bahamas is 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 twentyeight days from the 14th day of January, 2022 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

30 December 2021 Sgd. Martina Edwards Liquidator

NOTICE International Business Companies Act (No. 45 of 2000)

CARAVEL DS FUND LTD. Registration Number: 201502 B

Pursuant to the provisions of Section 138 (8) of the International Business Companies Act, 2000 notice is hereby given that Caravel DS Fund Ltd., has been dissolved and has been struck off the Register of Companies with effect from the 30th day of December, 2021.

GSO Corporate Services Ltd. Liquidator

PAGE 8, Friday, January 21, 2022

THE TRIBUNE

BIMINI BAY DEVELOPER TO PAY $600K ON BOAT THEFT FROM PAGE ONE

agreed by himself and Mr Modrono,” the report said.

“Mr Rolle did not ask for identification, did not seek assistance from a senior person, did not ask Mr Modrono for faxed verification of individuals arriving to take possession of the yacht, did not have the persons taking possession of the yacht complete a vessel release form.

“A vessel release form is in place for the authenticity of individuals to take possession of property at the owner’s request. A procedure as to what steps is necessary for this process to

proceed forward should be implemented.”

Justice Winder said Bimini Bay’s “own account” of the theft showed “a recognition of the failures” of Mr Rolle, which he found aided the vessel’s removal and theft from Bimini Bay’s marina.

An investigator hired by Great Lakes Reinsurance (UK) PLC, which insured the vessel and stepped into Mr Modrono’s shoes as plaintiff after paying out his claim over the theft, found that the Rum N’ Coke was taken from Bimini Bay to the Dominican Republic

after which its whereabouts became unknown.

Great Lakes, in an action that was begun more than a decade ago in 2011, concerning an event that occurred 11-and-a-half years ago, alleged that the theft resulted from RAV Bahamas’ “failure to provide reasonable security” at the Bimini resort property and its marina.

It claimed $579,721 in a bid to recover its insurance claim; $18,545 to cover the costs of the investigation it initiated into the theft; plus judgment interest and costs.

However, RAV Bahamas, in rejecting the allegations,

argued that the vessel was unlocked and that Mr Modrono allowed “various persons unknown” to Great Lakes to use it.

And it claimed that the dockage lease agreement with Mr Modrono, via clause seven of the lease, placed the duty to keep vessels moored at Bimini Bay safe on the boat owner - not the resort. RAV Bahamas argued that, as a result, “owed no duty of care”, and argued that the security guards and surveillance cameras deployed were “deemed adequate and sufficient”.

However, Justice Winder, in his ruling noted that Doug Black, director of Bimini Bay’s marina operations, admitted that at the time of the theft “there were no cameras anywhere in the marina” - something that changed immediately after the vessel’s theft.

He added that besides owing “a duty of care” to dockage and slip owners, RAV Bahamas and Bimini Bay also needed to ensure they took “reasonable measures” to keep vessels safe and ensure they were not vulnerable to being stolen.

“I am satisfied that the defendant breached its duty

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 76° F/24° C Low: 57° F/14° C

TAMPA

SATURDAY

SUNDAY

MONDAY

TUESDAY

Partly sunny with a passing shower

Overcast with a couple of showers

Occasional rain, mainly early

A stray morning t‑storm; some sun

Partly sunny and pleasant

Mostly sunny and beautiful

High: 80°

Low: 68°

High: 79° Low: 67°

High: 78° Low: 64°

High: 75° Low: 66°

High: 79° Low: 68°

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

AccuWeather RealFeel

85° F

70° F

86°-67° F

81°-61° F

75°-64° F

80°-65° F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

N

almanac

E

W

ABACO

S

N

High: 77° F/25° C Low: 72° F/22° C

4‑8 knots

S

High: 78° F/26° C Low: 66° F/19° C

4‑8 knots

FT. LAUDERDALE

FREEPORT

High: 79° F/26° C Low: 67° F/19° C

E

W S

E

W

WEST PALM BEACH

N

| Go to AccuWeather.com

TONIGHT

High: 75° F/24° C Low: 55° F/13° C

High: 78° F/26° C Low: 67° F/19° C

MIAMI

High: 79° F/26° C Low: 69° F/21° C

4‑8 knots

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 81° F/27° C Low .................................................... 62° F/17° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 78° F/26° C Last year’s low ................................... 61° F/16° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 3.28” Normal year to date ..................................... 0.86”

ELEUTHERA

NASSAU

High: 80° F/27° C Low: 68° F/20° C

Forecasts and graphics provided by AccuWeather, Inc. ©2022

High: 80° F/27° C Low: 73° F/23° C

N

KEY WEST

High: 77° F/25° C Low: 71° F/22° C

High: 81° F/27° C Low: 74° F/23° C

N

S

E

W

4‑8 knots

S

6‑12 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

9:52 a.m.

10:16 p.m.

2.8 2.3

3:36 a.m. 0.0 4:18 p.m. ‑0.1

Saturday

10:31 a.m.

11:01 p.m.

2.7 2.4

4:20 a.m. 0.0 4:57 p.m. ‑0.1

Sunday

11:14 a.m.

11:50 p.m.

2.5 2.5

5:08 a.m. 0.1 5:38 p.m. ‑0.1

Monday

12:02 p.m. ‑‑‑‑‑

2.4 ‑‑‑‑‑

6:03 a.m. 0.2 6:24 p.m. ‑0.2

Tuesday

12:45 a.m.

12:56 p.m.

2.5 2.2

7:04 a.m. 0.2 7:17 p.m. ‑0.2

Wednesday 1:46 a.m.

1:58 p.m.

2.6 2.1

8:11 a.m. 0.2 8:15 p.m. ‑0.3

Thursday

2.8 2.1

9:20 a.m. 0.1 9:17 p.m. ‑0.4

2:49 a.m.

3:04 p.m.

sun anD moon Sunrise Sunset

6:56 a.m. Moonrise 5:46 p.m. Moonset

9:17 p.m.

9:32 a.m.

Last

New

First

Full

Jan. 25

Feb. 1

Feb. 8

Feb. 16

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 81° F/27° C Low: 74° F/23° C

High: 81° F/27° C Low: 76° F/24° C

N

High: 78° F/26° C Low: 70° F/21° C

E

W S

LONG ISLAND

tracking map

High: 82° F/28° C Low: 75° F/24° C

6‑12 knots

MAYAGUANA High: 81° F/27° C Low: 76° F/24° C

Shown is today’s weather. Temperatures

L

uV inDex toDay

CAT ISLAND

E

W

of care as its actions fall below the reasonable standard expected of it, resulting in the loss of the vessel,” Justice Winder ruled, granting Great Lakes the full amount of its claim.

He added that the lease defence cited by RAV Bahamas had no merit as it “could not contemplate the negligence of the nature claimed” which led to the boat theft. And he suggested that clause seven ran afoul of the Consumer Protection Act that requires contract terms to be “reasonable”, as RAV Bahamas could not “exclude itself from liability” from such negligence.

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 81° F/27° C Low: 77° F/25° C

High: 81° F/27° C Low: 75° F/24° C

GREAT INAGUA High: 83° F/28° C Low: 76° F/24° C

N

E

W

E

W

N

S

S

7‑14 knots

8‑16 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday: Today: Saturday:

WINDS S at 4‑8 Knots SW at 4‑8 Knots SE at 4‑8 Knots SW at 3‑6 Knots ESE at 7‑14 Knots SSE at 6‑12 Knots ESE at 8‑16 Knots ESE at 7‑14 Knots ESE at 6‑12 Knots SSE at 4‑8 Knots SSE at 3‑6 Knots WNW at 4‑8 Knots SE at 6‑12 Knots S at 3‑6 Knots E at 8‑16 Knots ESE at 7‑14 Knots ESE at 8‑16 Knots SE at 6‑12 Knots ESE at 8‑16 Knots ESE at 7‑14 Knots SE at 4‑8 Knots WSW at 3‑6 Knots SE at 7‑14 Knots SE at 6‑12 Knots SE at 6‑12 Knots SSE at 4‑8 Knots

WAVES 2‑4 Feet 3‑5 Feet 0‑1 Feet 0‑1 Feet 3‑5 Feet 2‑4 Feet 3‑5 Feet 2‑4 Feet 2‑4 Feet 2‑4 Feet 0‑1 Feet 1‑3 Feet 1‑2 Feet 0‑1 Feet 2‑4 Feet 1‑3 Feet 2‑4 Feet 2‑4 Feet 4‑7 Feet 3‑6 Feet 1‑2 Feet 0‑1 Feet 3‑5 Feet 2‑4 Feet 1‑3 Feet 1‑2 Feet

VISIBILITY 9 Miles 5 Miles 10 Miles 6 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 9 Miles 5 Miles 9 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 6 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 75° F 76° F 78° F 78° F 80° F 80° F 77° F 77° F 78° F 78° F 79° F 79° F 80° F 80° F 80° F 80° F 79° F 79° F 77° F 77° F 79° F 80° F 78° F 78° F