Investors IVRC (Island Venture Resort Club), owners of Old Bahama Bay Resort and Yacht Club, and Skyline Investments are still involved in legal issues over ownership of the property.
Out of the conflict on Friday, came an attempt to close down Old Bahama Bay Resort. The Freeport News was informed of the development, went to the scene and met upset employees. Because of the legal battle relating to alleged encroachment of property, security personnel accompanied by police officers were on property Friday morning attempting to change the locks, The Freeport News was told.
However, Old Bahama Bay representatives insisted on a legal document to support the action. When none was produced, the resort remained open.
Chief Financial Officer at Old Bahama Bay, James Culmer was saddened by the incident and admitted being confused as to why it happened.
“Although GIN and Skyline have tried in the previous years to stop the operation, the latest development surprised me.
“Skyline (in my view) has been trying to close Old Bahama Bay. It seems obvious that they don’t have the money. The last date for sale was supposed to be December 6 and also that was time for our termination.”
“The lease for the property states that they can terminate our breach if there is a sale. But It also says pending a sale, you will be given 90 days.
“Security guards from Simmons Security along with police officials came on the property and went into the IT room, trying to change the locks on the building Skyline owns.
“They tried locking the lobby and if the locks were changed, guests would have not been able to check out of the resort club.
“When Skyline came and approached GIN about selling the resort, it was okay because IVRC would continue operations until reliable investors came on board.
“Assuming that there would be some kind of dialogue, the only messages IVRC received were threats,” informed Culmer.
To get further comments, The Freeport News contacted President of Island Venture Resort Club, John MacDonald, who was in Florida. He decried the presence of security persons and police officers.
“I feel the process is very unprofessional and we have not been able to get either side to come to the table and discuss anything.
“We are trying to figure out if there is a sale, and the transitional work.
“We have never been told that there is a closing, nor the actual closing date, and if after the closing date would our staff remain employed or unemployed.
“We were totally left in the dark which is not how proper business ethics should work. People just don’t move forward like that in real life,” stated MacDonald.
He touted Old Bahama Bay as a thriving business, a “living breathing entity which survives and thrives around West End.”
Expressing that he too is uncertain why the incident happened, MacDonald admits that his association has been reaching out to Skyline, now that the process has been elevated to legal matters.
“Since we hadn’t had anything resolved, we have actually filed a petition with the court asking the court to intervene, make a decision, and help, as to which way to move forward.”
“In the petition, we are willing to work with the new owners, but want to talk and figure things out,” concluded MacDonald.
Later on Friday a statement came from LRA OBB Limited, the purported owners of the marina assets at Old Bahama Bay.
It was claimed that during the interim of the transition, the OBB marina assets and certain amenities at the resort will be temporarily out of operation.
(See statement in full on this page).