Nearly one month after megaresort Baha Mar’s filing for Chapter 11 U.S. bankruptcy protection, a judge in the Bahamas has declared that the filing will not be recognized in the Caribbean, according to The Associated Press. This means the resort will not receive loans for daily operation or bankruptcy protection for assets in the Caribbean. According to the article, the Baha Mar group was disappointed in the ruling, while the Bahamas praised the judge’s decision, petitioning that the island’s Supreme Court appoint a liquidator to oversee the opening of the resort, which has been delayed multiple times.
