03092026 BUSINESS

developer shrugs off Ginn sale roadblock

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

AMBITIONS for a $6.5bn investment at the former Ginn project have hit a potential roadblock after a rival claimant to ownership of the property launched Supreme Court legal action seeking to block, and overturn, the West End site’s sale by the Government.

LRA-OBB Ltd and Resorts Holdings, the two companies that hold the combined 1,931 acres that comprised the failed Ginn development, on February 23, 2026, initiated a Judicial Review action aiming to “quash” efforts by the Department of Inland Revenue and Bahamas Treasurer to sell to 59 percent of this land to Bristol Pointe Ltd, an affiliate of new developer, Coakley International.

Tribune Business understands that, while Justice Franklyn Williams last week refused to grant the two companies permission to proceed with the Judicial Review challenge, he only did so on the basis that the Attorney General’s

GBPA ‘value proposition’ clarified by tribunal ruling $6.5bn

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BAHAMIAN businessman is asserting that the Grand Bahama Port Authority’s (GBPA) “value proposition” has been clarified by last week’s arbitration verdict with Freeport’s quasi-governmental authority reasserting that the city injects $200m in taxes annually into the Public Treasury.

Current owners in Supreme Court bid to block deal

Coakley chief: ‘We’re moving ahead like it don’t exist’

Claims of ‘illegality’ around $10m unpaid tax challenge

RENDERINGS of the hotel/casino and mega yacht marina for Coakley International’s proposed $6.4bn development of the former Ginn project’s site in Grand Bahama’s West End.

Office had agreed to give an undertaking that the Treasurer and tax collection authority would not proceed with the sale until

SIR FRANKLYN WILSON

the the current owners’ Tax Appeal Commission challenge is resolved. Resorts Holdings and LRA-OBB, which are

represented by Michael Scott KC, and representatives from the Attorney General’s Office were understood to still be negotiating the undertaking’s terms as the week closed. Should the undertaking be given, it would largely achieve the same objective as the Judicial Review - to halt, and block, any sale until the Commission resolves the dispute over almost $10m in past due real property tax arrears - much of which alleged to have been outstanding for a decade or more.

LRA-OBB, which stands for Lubert Adler-Old Bahama Bay, and Resorts Holdings are challenging

‘Abrupt hostility’: Ginn project cites $21m gap on ‘75%-plus’ over-bill

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE former Ginn project’s present owners are asserting their efforts to bridge a $21m valuation difference, which has resulted in them being over-charged real property tax by “more than 75 percent-plus”, have been met with a mix of “disengagement” and “abrupt hostility” by the tax authorities.

Legal documents obtained by Tribune Business detail allegations by Reunion Cay Island Resort LLC, the managing agent for LRA-OBB Ltd and Resorts Holdings, that repeated efforts “to resolve legacy tax matters” - including near-$10m in purportedly unpaid real property tax arrears, some of which have been outstanding for a decade or more - have failed to move the Department of Inland Revenue (DIR) to settlement.

Daniel Baker, Reunion Cay’s authorised representative, in a December 17, 2025, affidavit lodged with the Tax Appeal Commission asserted that LRA-OBB and Resorts Holdings, the two entities that hold the 1,931 acres that comprised the former Ginn project, have been over-billed “by more than 57 percent” for 2024’s real property tax assessment based on the DIR’s inflated land valuations. He alleged that appraisals conducted for Reunion Cay by the EY (Ernst & Young) accounting firm, plus Coldwell Banker Lightbourn Realty, show the true market value of the two companies’ ten collective West End land parcels is a combined $15m. However, Mr Baker asserted that the Department of Inland Revenue is using $36m, a valuation more than double or some 140 percent higher, as the basis for calculating due real property tax which is causing the substantial over-billings. Full details of the dispute, and outstanding tax arrears allegedly owed to

Besides narrowing the GBPA’s true value through the rejection of its $1bn

- See Page B3

Sir Franklyn Wilson, the Arawak Homes and Sunshine Holdings chairman, told Tribune Business that the outcome had created “a realistic pathway” for outside investors to potentially buy-out the Hayward and St George families by providing a better idea of the purchase price they may have to pay and what they would actually be acquiring.

Ex-Princess Cays supervisor sees $24k award overturned

BY NEIL HARTNELL

Tribune Business Editor nhartnell@tribunemedia.net

A FORMER carpentry supervisor at Carnival and Princess Cruise Lines’ 40-acre Eleuthera private island has seen his $24,266 award for wrongful dismissal overturned by the Court of Appeal. The three-person court, in a unanimous March 3, 2026, verdict ruled that Rionda Godet, the Industrial Tribunal’s vice-president, had “misdirected” herself in awarding damages to Thomas Moxey by taking into account material that was not before Princess Cays when it terminated him for removing copper from the company’s premises without authorisation. And the Court of Appeal also found that the Industrial Tribunal, in reaching its now-overturned verdict, had also strayed from the real issue - assessing whether, under the Employment Act’s section 33, that Princess Cays had conducted a thorough enough investigation and, based on the evidence before it, could form an “honest and reasonable”

- See Page B4

Further delay in Royal Beach Club IPO plan

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

ROYAL Caribbean executives say the initial public

offering (IPO) that would give Bahamians shares in its Paradise Island beach club will likely take several more months to finalise as it first seeks to build a track record of financial and operational performance.

Philip Simon, president of Royal Caribbean (Bahamas) and its Royal Beach Club project, said the timeline for offering shares to Bahamians is still being determined as discussions with the Government continue. He added that the IPO is still expected to happen and, when it does, there will likely be significant interest from investors.

“Listen, that’s still going to be the hottest ticket in town when it comes about. We are working diligently to really, again, dot the ‘i’s’ and cross the ‘t’s’ on that,” said Mr Simon. “We’re probably going to put a couple of months of operations underneath our belt by the time we get to that, probably later this year.

“There are some other things that are brewing nationally as well, and so we want to stay focused on what it is that we have to do, so another several months. I can’t commit to a particular time, but we have been in active conversations with the Government with regards to that.”

The Royal Beach Club is structured so that Royal Caribbean will ultimately hold a 51 percent majority stake, while Bahamian interests own the remaining 49 percent. The Government’s equity stake will be based on the value of the four Crown Land acres it has contributed to the 17-acre project, with Bahamian investors set to acquire the remainder via the IPO.

Once the value of the Crown Land was appraised, the size and value of the collective equity raise from Bahamian investors was to be determined. It is thought the IPO will take a similar form to the Nassau Cruise Port offering, where investors acquired shares in an investment/mutual fund that will own the collective

local interest in the Royal Beach Club.

The timeline for the Royal Beach Club IPO has shifted several times since the project was first announced. Initial plans in 2024 suggested the offering to Bahamian investors could occur between August and December of that year, but by September 2024 Royal Caribbean said the timeline had moved to the first quarter of 2025 as the investment structure and government partnership were finalised.  In early 2025, the cruise line indicated the IPO would likely slip to last year’s third quarter due to the need to obtain regulatory approvals and documentation. The target then moved again to late 2025, before executives acknowledged the possibility of a delay into 2026. By December 2025, the company said it was aiming for an early-2026 launch of the IPO that will allow Bahamians to buy into the project’s 49 percent local ownership stake.

However, the frequent delays and timeline push-backs are prompting growing scepticism among Bahamians, who are questioning whether the long-promised IPO will ever take place and if the Government will instead end up holding the full 49 percent equity ownership interest for itself.

GBPA reasserts Freeport’s $200m Treasury tax boost

counter-claim, he added that the three-strong arbitration panel - featuring a former Cayman Islands chief justice and two UK law lords - had also determined the rights and responsibilities a purchaser would inherit from the families by determining where those stop and the Government’s powers begin.

Sir Franklyn spoke out as the GBPA, in a letter issued today to its 3,500-plus business licensees, sought to provide reassurance to key stakeholders about what the decision will mean for them as it provided its own interpretation of the 139-page ruling to counter that published by the Government last week.

The public relations between the Davis administration and GBPA shows no sign of slowing down, with the Government understood to be preparing to host a Town Hall meeting in Freeport on Wednesday this week - seemingly making good on the Prime Minister’s pledge in last Thursday night’s letter to Rupert Hayward, the GBPA director, where he promised to be in “direct dialogue with licensees, unions, churches and civic groups on Grand Bahama” over the way forward for Freeport.

While the Government is asserting that the arbitration verdict has reaffirmed Bahamian “sovereignty” over the 230 square mile Port area, and given it authority over the city’s management, governance and regulation, as well as establishing Parliament’s legislative rights, the GBPA is countering that - despite losing its $1bn counter-claim - the outcome means very little has changed for Freeport, at least in the near-term, and the decision merely upheld the status quo.

And Freeport’s quasi-governmental authority reiterated that the Government had lost the main reason and objective

behind why it brought the claim - the demand that the GBPA pay it $357m, which it intended to use as leverage to force the Hayward and St George families to either sell or exit via the appointment of a receiver.

“First and foremost, it is important to affirm that GBPA has never sought to challenge the sovereignty of The Bahamas and does not participate in the political process,” the GBPA wrote in its letter to licensees.

“Throughout its history, it has regarded the Government of The Bahamas as an important partner in the governance and success of Freeport. The arbitration process, which was initiated by the Government, has resulted in a decision in which the tribunal rejected in full the Government’s claim that GBPA owed $357m in reimbursements.

“As matters stand today, no payment is owed by GBPA to the Government as a result of that claim. The ruling does not fundamentally alter the status quo in Freeport. The tribunal reaffirmed GBPA’s position under the Hawksbill Creek Agreement (HCA), and the framework governing the Port Area remains substantially intact.”

The ruling effectively sends both the Government and GBPA to the negotiating table to determine the so-called “review mechanism” that will be used to calculate how much the latter should pay to the Public Treasury on an annual basis. These negotiations will first have to focus on agreeing the framework for this “review”, its governance and administration and how it will function, before questions of quantum and amount are even discussed.

While the arbitration tribunal appeared to leave the door open on whether this “review mechanism” should apply retroactively, and how far back it can go, there was nothing binding in the verdict to force both parties back into arbitration to resolve this issue. Thus

discussions on this topic may be stuck on this issue for quite some time, with any disputes potentially heading to the Supreme Court.

The GBPA, in its letter to licensees, said the Government cannot pursue future payment demands under the original Hawksbill Creek Agreement’s clause 1.5 - the section used to bring the initial $357m claim that was dismissed. “No liability has been established against GBPA, and no monies are currently owed to the Government as a result of the arbitration,” it added.

“The tribunal reviewed the 1994 Agreement and found that it applies, but did not determine that any sums are presently due or that any liability currently exists.” That determination is to be made in the future, and the GBPA said the arbitration had also determined that any sums found to be owing to the Government must be calculated on a net basis - that is, the Government’s Freeport expenditures are set off, or netted off, against tax revenues generated by the city.

“The tribunal acknowledged that the net cost and annual principles advanced by GBPA had merit, consistent with GBPA’s long-standing position that economic activity within the Port area generates a significant net positive contribution to the national treasury. Licensees, businesses and residents contribute more than $200m annually in taxes, fees and other revenues,” the GBPA told its licensees, while glossing over the fact that just one of its eight counter-claims succeeded.

“Throughout this process, GBPA has remained focused on supporting investment, development and economic activity in Freeport and across Grand Bahama,” it added. “The continued success of the city depends on constructive collaboration among

all stakeholders, and GBPA remains committed to working with the Government of The Bahamas to support the growth and success of Freeport.

“Our priority has been to preserve the stability and integrity of the Freeport framework, and to provide certainty for licensees and investors. The Tribunal’s decision allows us to move forward with that stability intact, and with a continued focus on strengthening the Grand Bahama economy and expanding opportunities for licensees.”

Sir Franklyn, meanwhile, argued that the arbitration verdict had removed “raw politics” from the discussion on Freeport and the GBPA’s future. “It’s helped to clarify value,” he told Tribune Business of the outcome. “The value proposition is clearer because previously there was this $1bn scepticism in the value proposition that this has helped to clarify.”

The $1bn was the value attached to the GBPA’s counter-claims, which had sought declarations that it had sole responsibility for Customs, Immigration, business licensing, development and environmental approvals, and utilities licensing and regulation within Freeport. These were all rejected in a verdict that largely upheld Freeport’s governance status quo, apart from the Government’s failure to approve some environmental by-laws.

“The good news is, I think, that there seems to be a growing consensus among business people that I speak to in Grand Bahama that a lot of good can come out of this,” Sir Franklyn said. “That with this ruling, the raw politics has been

directed out of it and the opportunity for change is becoming clearer.” He added that Freeport’s private sector had long called for the city’ Hawksbill Creek Agreement free trade zone model to be preserved, and for investors to continue “to control the economic levers of the place”, regardless of whatever happened to the GBPA’s governance and city management functions. However, they also “wish for the new private sector, or owner” of the GBPA “to be deep-pocketed and have capital and drive investment”.

Asserting that last week’s arbitration decision has paved the way for this to occur, Sir Franklyn argued: “This process, it seems to me, offers a realistic pathway to get there. The reason I say that is the value the existing shareholders would have deemed to be reasonable previously, their source of value, was implicit in their counter-claim.

“Previously, they would have said to any investor talking to them: ‘We have these rights’. They would somehow have factored that into their rationale for what was a fair consideration for their stock. The basis for their valuation is affected by the ruling saying they are not entitled to that $1bn and those rights. That would facilitate the basis for coming to a mutually acceptable agreement. That’s one good coming out of it.”

Besides narrowing the purchase price range, and making it clearer what may be required to buy the Hayward and St George families out, Sir Franklyn said the arbitration had also helped

prospective acquirers by clarifying what powers they will inherit at the GBPA.

“The new guy has clarity where his rights start and where his rights are,” Sir Franklyn said. “Any investor coming in would want that. Presumably a new investor coming in will see who has responsibility for what and there is clarity.

Two, he doesn’t need what he’s being asked to buy and, to-date, cannot buy. What I’m saying is that presumably the offering to a new investor would also include that they have these rights worth $1bn. Now you’ve established that $1bn is not there, that makes it easier to get to negotiations.”

Sir Sol Kerzner’s success with Atlantis and Paradise Island, the Arawak Homes chief said, showed it was possible to triumph without requiring the quasi-governmental powers of a GBPA.

“The biggest question an investor will ask is: Not having these rights, will it impact my ability to earn a profit to the level that suffices?” Sir Franklyn said.

“You can point to the Sir Sol Kerzner experience on Paradise Island and say you don’t need it.”

Predicting that “better days are ahead for Grand Bahama”, he added that the arbitration ruling may have cleared the way for what Freeport’s private sector has long demanded: A new GBPA owner with clarity on its role, rights, powers and responsibilities.

“There’s a chance of getting all these things now,” Sir Franklyn told this newspaper. “The timing is incredibly fortuitous. If the Grand Lucayan gets going, if the airport gets sorted out plus these changes, I would say that Grand Bahama is poised for better days.”

Copper removal ‘permission’ not put before investigation

belief that Mr Moxey was guilty of misconduct.

Appeal justice Deborah Fraser, writing the verdict, recalled: “The respondent [Mr Moxey] was employed by the appellant as a carpentry supervisor within its maintenance department.

Following an internal investigation into the alleged unauthorised removal of copper from the appellant’s premises, the respondent’s employment was summarily terminated.

“The appellant maintained that the respondent had removed company property without authorisation and that the dismissal was justified. The respondent thereafter filed a complaint before the Industrial Tribunal alleging wrongful dismissal. After hearing the evidence and submissions, the vice-president upheld the complaint, finding that the appellant had failed to conduct a reasonable investigation and that the respondent was wrongfully dismissed.

“The appellant, being dissatisfied with the decision, now appeals to this court on the grounds that the learned Vice-President misdirected herself in law, improperly reopened and substituted findings of fact, imposed an erroneous requirement for written statements during the investigation, and reached conclusions that were not reasonably

open to her on the evidence before her.”

Explaining why the Court of Appeal has overturned the Industrial Tribunal verdict in its entirety, appeal justice Fraser noted that Mr Moxey had been employed by Princess Cays for almost six years, having been hired in August 2017, prior to his May 23, 2023, dismissal over the alleged unauthorised removal of copper from the private cruise destination.

“Before the Tribunal, the respondent’s [Mr Moxey’s] case was that, during a clean-up exercise of a temporary warehouse, he acted pursuant to instructions given by the resort manager, Janet Strachan. He maintained that he was directed to inspect items and discard those that were of no use, and that the copper tubing in question was broken, of no utility, and placed on a company truck as garbage to be taken to the dump,” the Court of Appeal recorded.

“He further contended that the copper was later given to a third party at the security gate on the understanding that it was being discarded. While he accepted that a subsequent meeting took place with management and human resources, he denied that he had been instructed not to remove the copper or that he acted without permission.

“The appellant [Princess Cays] denied that any

such permission had been given. It relied on its internal investigation, reports from other employees, voice notes sent by the Respondent to Mrs Strachan, and the evidence of Dawnae Thompson, human resources manager. The appellant maintained that the respondent admitted to removing the copper without authorisation and that summary dismissal was therefore justified.”

The Industrial Tribunal put great weight on the absence of a written statement of evidence from Mrs Strachan, although Mrs Thompson, the human resources chief, confirmed the resort manager had informed Princess Cays internal investigation that Mr Moxey had been “given clear directives as to what the project entailed”.

“The project came about because Princess Cays leased the retail store and the new store owners needed a space for their items. The applicant [Mr Moxey] and Janet Strachan did a walk-through of the temporary warehouse and reviewed several items in there a few days before the clearing began,” the Industrial Tribunal noted of Mrs Thompson’s evidence.

“During the walk through, she told the applicant to secure certain items such as pumps, grills, copper, Christmas decorations and to ensure that the old retail items were given to staff

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that had the authorized permission form to receive the items...” The Industrial Tribunal, though, said it was “minded to believe” Mr Moxey’s account that he had been given what he thought was permission to remove certain items, as this has had “not been satisfactorily disputed” by Princess Cays.

The private cruise destination appealed, arguing that the Industrial Tribunal erred “by treating the absence of written statements from certain individuals as determinative of whether a reasonable investigation had been conducted, or whether a genuine and reasonable belief was held at the time of dismissal.”

Princess Cays argued that it had placed sufficient evidence before the Industrial Tribunal to meet this threshold, and there was no legal requirement for Mrs Strachan to give a separate statement.

Mr Moxey’s attorney, former MP and Cabinet minister, Sidney Collie, said, his client “at no stage” admitted “to removing the copper without authorisation” and he was “consistent and unwavering” that he acted with Mrs Strachan’s permission. However, the Court of Appeal found in favour of Princess Cays’ arguments as the “permission” defence was only raised before the Industrial Tribunal and not in the

cruise destination’s own investigation.

“In the present case, the appellant’s case at the disciplinary stage was that the respondent had removed copper tubing without permission,” the Court of Appeal ruled.

“There was no finding that, during the investigative or disciplinary process, the respondent asserted that he had been expressly authorised by Mrs Strachan to use his discretion to dispose of the copper.

“Nor was there a finding that such an explanation formed part of the material before management when the decision to terminate was taken. The prominence of the ‘permission’ defence arose before the Tribunal, where the learned vice-president accepted the respondent’s account and attached determinative weight to the appellant’s failure to call Mrs Strachan to contradict it.

“In doing so, the learned vice-president misplaced the statutory focus. The question was whether management acted unreasonably on the information then before it. If an assertion of authorisation was not shown to have been advanced at the material time, it could not form part of the factual matrix which management was required to investigate or rebut,” it added.

“By treating the absence of viva voce evidence from

Mrs Strachan as effectively determinative, in circumstances where there was no finding that management had been confronted with a clear defence of authorisation, the learned vice-president imposed a requirement not contained in section 33 of the Employment Act and shifted the inquiry from the reasonableness of the appellant’s belief to a re-evaluation of the factual dispute on the evidence before the Tribunal, thereby impermissibly discounting relevant material and falling into error.

“That was a misdirection in law. The statutory question was whether, on the material before management when the decision was taken, including the information received that the copper had been removed without permission and the respondent’s admitted removal of it, the appellant’s belief fell within the range of responses open to a reasonable employer following the investigation undertaken.”

Similar conclusions were reached by the Court of Appeal on the other grounds of appeal, and the damages award to Mr Moxey was overturned. Attorney Camille Cleare represented Princess Cays.

DIR unimpressed by 35% settlement offer

the Bahamian people via the Public Treasury, have emerged from Supreme Court filings over the Judicial Review challenge mounted by Reunion Cay and its client companies to the bid by the Department of Inland Revenue and Bahamian Treasurer to sell the largest tract, some 1,143 acres, to Coakley International via an offer that was accepted after the Tax Appeal Commission challenge was filed (see other article on Page 1B).

The existing property owners are attempting to halt, or block, the $26m sale to Coakley International until the substantive action with the Tax Appeal Commission - and any subsequent appeals to the judicial system - are decided. However, the Department of Inland Revenue has moved to have the Tax Appeal Commission proceedings struck out on the basis that Reunion Cay and its clients missed the legal deadline by which they had to file their objections to the 2024 property tax assessment that was due last year. And Shunda Strachan-Missick, the real property tax chief valuation officer and Department of Inland Revenue chief, in a July 11, 2025, letter to the Bahamian agent that Reunion Cay had appointed to negotiate with the tax authorities, signalled that the Government’s patience had run out over the alleged failure to make any payment on the collective $9.746m arrears said to be owing - with the last payments for some last parcels dating back to 2011 and 2012.

“The Department of Inland Revenue is not minded to lower the assessed values of the properties,” Ms Strachan-Missick wrote. “We have had many meetings and e-mails with representatives of the property owners. However, they have made no attempt to settle their tax arrears.

“They requested reviews for the values of several properties and, while we do not agree with their value claims, we commissioned an independent appraisal. The findings of that report revealed that our assessed values were, in fact, significantly under market values.” Thus the Department of Inland Revenue head is arguing that the two land-holding companies had been under-billed and should have been paying more in real property tax.

Ms Strachan-Missick added that, even if Reunion Cay and its companies had submitted their objection to the 2024 assessment in compliance with the legal

timeline set out in the Real Property Tax Act, their appeal “would have been dismissed” nevertheless because they had failed to pay the full amount of the disputed tax arrears into an escrow account - a legal requirement for their challenge to move forward.

Mr Baker, though, argued in evidence provided to the Tax Appeal Commission that the strike-out bid is “misconceived” given the “substantial issues”, including what is the correct market value of the former Ginn properties. He also denied the Department of Inland Revenue’s assertions that the claim is “statute-barred” by the failure to object to the real property tax assessment within the time allowed by law.

The legal filings reveal that, “acting on advice from government officials”, Reunion Cay and its client companies hired Drewber Solutions Group and its managing director, Nathaniel Butler, to assist in negotiations with the Department of Inland Revenue.

They submitted two settlement offers, dated June 4, 2025, and June 23, 2025, in which they sought a full “100 percent waiver” of all penalty surcharges and applicable fees. The first offer proposed that LRAOBB and Resorts Holdings pay “a concessionary settlement rate of 35 percent of the tax liability” for the period 2019 to 2035. That would have seen the two companies pay just 35 percent, little more than one-third of what was owed, on both vacant land and improved commercial property - a move that would have netted the Public Treasury just $666,401 on six of the ten land parcels, “We acknowledge that such concessions are no longer standard policy since 2023,” Mr Butler wrote on June 4 last year. “However, in light of the national significance of the Ginn project and its potential economic impact for Grand Bahama, we respectfully request your full and thoughtful consideration of this proposal.”

When the Department of Inland Revenue did not bite, Mr Butler went back 19 days later with a revised offer seeking a 35 percent discount in real property taxes owed between 2019 and 2025 for a total proposed settlement amount of $2.43m covering five - or half - of the land parcels. Again, there were no takers.

The largest outstanding arrears, some $7.947m in combined tax, penalty surcharges and collection fees, which represents 81.5 percent of the total $9.746m in real property taxes said to be owing in connection to the former Ginn property,

is attached to the parcel that Coakley International and its Bahamian principal, Shane Coakley, are seeking to acquire.

However, Mr Baker in his December 17, 2025, affidavit said that Reunion Cay and Department of Inland Revenue officials me on March 27, 2024, “to discuss a pathway to resolve outstanding taxes, which requested a correct assignment of market value… We discussed our concern that the assessment values, and therefore the tax assessments, were overstated based on the condition of the property, the continued inactivity in the Grand Bahama real estate market, and other challenges that depressed property values”.

Aerial images, maps and photos of the former Ginn project were provided, and Mr Baker added: “It was explained that we believed the market and characteristics of the property would place the value less than what the Department of Inland Revenue carried, and that once we were able to establish the market value today we could adjust prior year values.

“We discussed the abandonment, deterioration, vandalism, theft and devalued state of the property. This led the chief valuation officer to state that the Department of Inland Revenue viewed the property as not being improved.” This led to Reunion Cay and its client companies hiring EY to value all ten land parcels, with Coldwell Banker also contracted to appraise the two that had “the most significant over-assessments”.

Mr Baker said he recalled that Ms Strachan-Missick agreed to revalue present and past land valuations in Grand Bahama’s West End, and he came away with the understanding that the tax authority was “accepting that we had validly objected to the Department of Inland Revenue’s” assessments.

Based on Coldwell Banker’s work, he added it became clear “market values were significantly different than what the Department of Inland Revenue had assigned as assessment value, and.. there was a void of any transactions in the past ten years that would guide a conventional valuation”. However, a communication breakdown resulted after the official that Reunion Cay was dealing with, William Davis, tragically passed without its knowledge.

Mr Baker said he began dealing with another Department of Inland Revenue official, Antonio Maycock, “in desperation” after it was discovered in late September 2024 that the tax authority “to our shock” had advertised the 1,143-acre parcel for sale

and was preparing to auction it off. He responded by reaffirming “our intention and desire to promptly settle all outstanding taxes” once the property revaluations had been completed.

Mr Maycock, in an October 25, 2024, e-mail informed Mr Baker that Ms Strachan-Missick had “opted to defer acceptance of any bids submitted from the power of sale exercise until such time as we have conducted a reassessment of the subject property”. Once this was completed, all taxes had to be paid in full.

Reassured that the 1,143acre tract, which was held by Resorts Holdings and represented the former Ginn project’s real estate component, would not be auctioned off, Mr Baker said the EY report was sent to the Department of Inland Revenue one day before Mr Maycock’s e-mail as “an objection to past and present valuations” for all tend land parcels. This would have been just 13 days after the 2025 real property tax assessments were issued, thus putting it within the statutory objection deadline.

“The report indicates a market value of $15m for the ten assessment numbers compared to the Department of Inland Revenue’s assessed value of $36m, resulting in over-assessment by more than 57 percent for 2024, translating to over-assessments in the years following the ‘great recession’ of more than 75 percent-plus,” Mr Baker added.

“The appellant has expended considerable time and resources engaging with the Department of Inland Revenue… in an effort to resolve legacy tax matters. The appellant engaged the Department of Inland Revenue, maintained consistent communication, pursued facts and objective professional analysis, and proposed solutions to resolve differences.

“While hundreds of hours of time, and thousands of dollars and expense, have been exhausted, there is also an expense of reputational harm caused by the power of sale listings, suggesting the appellant either is not able to pay its tax or is unwilling,” he continued.

“The reality is the appellant has repeatedly taken

the initiative with the Department of Inland Revenue to correct inaccurate and outdated value assignments, only to be met with delay and disengagement followed by abrupt hostility and threat of imminent adverse action by the Government.”

But Ms Strachan-Missick, in a February 17, 2026, letter to Michael Scott KC, the Bahamian attorney for LRA-OBB and Resorts Holdings, set out the rationale for accepting Coakley International’s $26m bid despite the ongoing legal challenge before the Tax Appeal Commission that was filed some five to six weeks earlier. The two companies and Reunion Cay are arguing that the appeal’s existence should have acted as a ‘stay’ preventing any acceptance of the offer.

“During the period October 2024 to September 2025, although the assessed taxes

remained due and owing by the property owner, no payment was made to the Department of Inland Revenue in an attempt to settle the tax liability,” Ms Strachan-Missick asserted,

“While your client has filed an appeal to the Tax Appeal Commission in respect of the captioned property and other properties, the captioned property was advertised via a public auction almost one year before your client’s appeal was filed on account of your client’s failure to pay the assessed tax and accrued surcharges.

“As you are aware, an application to strike out the appeal for want of jurisdiction in respect of the captioned property and others was filed on behalf of the chief valuation officer as your client and/ or their agent failed and/ or neglected to lodge an objection to the assessment on the captioned property within the prescribed time after notice of the assessment was served/deemed to have been served.”

‘Perfect Day’ set for $60m improvements

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE deputy prime minister says the construction of employee housing represents the start of $60m

worth of improvements for Royal Caribbean’s principal private island destination in The Bahamas.

Chester Cooper, also minister of tourism, investments and aviation, said the cruise line’s outlay

on employee facilities at Perfect Day at CocoCay highlights tourism’s role as “the rising tide of our economy”.

Speaking as the cruise line unveiled the first of several new staff housing

buildings, Mr Cooper said the project represents the start of a $60m investment focused not only on infrastructure but also on improving living conditions for the Bahamian workforce that supports the cruise line’s private island operation.

“These buildings represent the beginning of a significant $60m investment in infrastructure, but also in people,” said Mr Cooper. “I say consistently that infrastructure signals economic growth, yes, but it also signals an improvement in quality of life. It is dignity; an investment in you.”

He said the development reflects the importance of the Bahamian workers who help operate the popular cruise destination, which attracts millions of visitors annually.

“The workers here at CocoCay, the men and women who show up every day and every season to make Perfect Day truly perfect for the more than 3.5m guests who come to these shores, are a significant part of this success,” the deputy prime minister added.

Mr Cooper said the project is also designed to improve stability and comfort for the employees currently working at the destination. “This investment, I understand, began around 2021, and today you employ almost 800 Bahamians here; 800 total employees,” said Mr Cooper.

“These facilities will provide stability, comfort and a genuine sense of home for the workforce that powers this destination.”

Philip Simon, president of Royal Caribbean (Bahamas) and the Royal Beach Club project on Paradise Island, said the new housing will support more than 750 team members currently based on the island, forming part of broader improvements aimed at enhancing working conditions for staff.

“Today we celebrate and mark the completion of the first of several new employee housing facilities on Perfect Day at Coco Cay,” said Mr Simon.

“This project supports more than 750 team members on-site. This is not just infrastructure for them; it is a home that represents comfort, peace of mind and rest after a long day of meaningful work.”

The unveiling marked the completion of the first two of six planned

employee housing facilities at the cruise line’s private island destination in the Berry Islands. The accommodations form part of a $60m investment that also includes expanded indoor and outdoor dining facilities for staff, a dedicated backof-house medical centre with increased on-site staffing, and enhanced wellness spaces and programming for employees.

Mr Cooper also pointed to the wider economic impact of the cruise line’s operations in the Berry Islands, including improved air connectivity linked to the growing workforce and visitor activity.

“The air connectivity that has come to the Berry Islands as a result of this operation is also a big win for the Berry Islands. Whenever we see safe, reliable and affordable airlift, it helps to grow communities,” said Mr Cooper.

“Investments in communities really grow and multiply. It’s good for expanding not just cruise visitors but stopover visitors to the island as well. This is why I call tourism the rising tide of our economy.”

Mr Cooper added that Royal Caribbean has now hired more than 1,300 Bahamians across its Perfect Day at Coco Cay operation and the Royal Beach Club development on Paradise Island, which is expected to further expand employment opportunities in the tourism sector.

Tax chief asserting ‘no effort to settle arrears’

the Department of Inland Revenue’s (DIR) valuation of what the former Ginn project properties are worth. They are arguing, before the Tax Appeal Commission, that the DIR has significantly over-priced the land’s value, and that this has resulted in them being over-charged “by more than 75 percent-plus” in real property tax billings since the so-called “great recession” of 2008-2009.

Legal filings obtained by Tribune Business reveal that the two land-owning entities and their managing agent, Reunion Cay Island Resort LLC, are alleging they have attempted to negotiate a settlement of the real property tax arrears with the Department of Inland Revenue since 2021 but without success. Their efforts intensified in 2023 and 2024, especially after the tax authority in late September 2024 moved to exercise its ‘power of sale’ and auction off 1,143 acres to partially recover the unpaid taxes.

Reunion Cay and the land-holding entities moved swiftly to head-off that sale, producing appraisals by the EY (Ernst & Young) accounting firm and Coldwell Banker Lightbourn Realty purporting to show that the former Ginn project’s land was worth far less than the value assigned by the Department of Inland Revenue for calculating real property taxes.

The DIR, on October 25, 2024, allegedly agreed to “defer” the sale and accepting any bids until it did its own Ginn revaluation.

The two sides, though, again proved unable to settle the real property tax arrears, resulting in Reunion Cay and the two companies launching their Tax Appeal Commission action on August 11, 2025. However, they are alleging that - unbeknown to them, and never disclosed to the Tax Appeal Commission until early 2026 - the Department of Inland Revenue had quietly restarted the bidding process for the 1,143-acre parcel and “formally accepted” Coakley International’s offer on September 25, 2025.

Seattle-based Coakley International, which has a Bahamian principal, Shane Coakley, have already paid a 10 percent deposit ($2.6m) towards the $26m purchase price set out in the sales agreement that both itself and the Treasurer signed on December 16, 2025. Coakley International, which has since been pitching its proposed project to investors in a bid to raise the necessary capital, has promised its plans will create an estimated 2,800 construction jobs and as many as 6,000 permanent Bahamian jobs

However, any hold-up to the sale and property’s purchase will inevitably cost Coakley International both time and money - the two

things investors and developers can most ill-afford to lose. Social media postings show that a Coakley International team was present at the recent Bahamas International Investment Forum held in Palm Beach, where the Prime Minister was the keynote speaker, as they sought to attract investors and raise the substantial financing required.

Mr Coakley, though, dismissed suggestions that his West End, Grand Bahama, land purchase - and development plans - could be delayed, or blocked, by Reunion Cay’s challenge. He told Tribune Business he had been reassured by government representatives that Reunion Cay, LRA-OBB and Resorts Holdings “don’t have a case at all”, and asserted: “We’re just going ahead to close and moving forward like it doesn’t exist.”

Confirming that Coakley International has “45 days to close” the $26m purchase, which is the same timeline he gave when the deal was announced in late January 2026, he added that Fred Smith KC, the Callenders & Co attorney and partner, has been retained “in case”.

“I’ve had a meeting with the Government,” Mr Coakley told this newspaper. “They feel strongly they did everything right. What they feel is they did the procedures right, the process was right, and Reunion had more than enough time to pay the taxes. They don’t believe there’s a case there at all. They said they’re just going through the motions so that they [Reunion] don’t come back after the sale.

“They told us: ‘Don’t worry about it. Go ahead and close’. They felt this will not stop the sale. I was worried when I saw the paperwork, but the Government called me and Thomas Dean [the Dupuch and Turnquest attorney who represents Bristol Pointe] called me. We retained Fred Smith just in case, but he said government doesn’t make mistakes like that. They do it properly. Fred Smith said the Government has done everything right here, and feels strongly they will not be able to beat in.

“The Government said push forward, bring investors in, keep moving forward,” Mr Coakley added. “They said they [Reunion] can’t stop the case. I had been worried and asked: ‘Do we wait?’

They said no. Thomas Dean came back and the Government said to proceed with the sale.” He acknowledged that any delay, or sale halt, could be “embarrassing” and cost the project investors and capital, but had taken comfort from the advice and reassurance received that this will not happen.

“That would be so embarrassing for all the big investors coming in if that doesn’t close,” Mr Coakley told Tribune Business. “But they [the Government] just said no problem and to go

NOTICE

NOTICE is hereby given that I KALISHA NICOLA ANDERSON EDWARDS of 345 Balliou Hill south apt 4, Nassau, 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 9th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

NOTICE is hereby given that I ISMATH MILFORT of Sunrise Road, 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 9th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

ahead. No impact. We’re just going ahead to close and we’re moving ahead like it doesn’t exist. They just said go ahead and close. I’m so happy about that.

“You know how much money and time we’ve put into this? It would have been so devastating. We want these investors to feel there’s any hiccups in us buying the property. The Government has done a good job making sure it’s clean, and we feel strongly this will be able to close. We have two different groups committed to the money. This is such a big thing for this country and Grand Bahama. I’m looking forward to this thing closing and let’s move on to the next chapter.”

However, Reunion Cay and the two land-holding companies are alleging that the sale and public auction of the 1,143-acre tract to Coakley International by the Department of Inland Revenue is void on the grounds of “illegality” because it violates two key sections in the Real Property Tax Act.

In particular, they are arguing that the Department of Inland Revenue and Treasurer failed to comply with the mandatory legal requirement that the owner of any property being auctioned off to recover real property tax arrears must first be notified. They also allege that the postponement of the original September 2024 auction required the process to be restarted “afresh”something the Government agencies did not do. Besides claiming that the process was “opaque”, given that it took the Government some 12 months before it accepted Coakley International’s offer in late September 2025, Reunion Cay and its fellow litigants are also asserting that the sale was “procedurally improper” because such “material matters” were neither disclosed to them nor the Tax Appeal Commission. And proceedings before the latter were launched six weeks, or a month-and-a-half, before the bid was accepted. They are also alleging that they had “a legitimate expectation” that the sales/ auction process set out in the Real Property Tax

Act “would be deferred pending reassessment” as promised by the Department of Inland Revenue. However, the latter has already filed papers bidding to strike out the claim before the Tax Appeal Commission.

The Department of Inland Revenue is arguing that the appeal launched by Reunion Cay, LRA-OBB and Resorts Holdings is out of time, and should not be allowed to proceed, because their objection to the 2024 real property tax assessment - which was published on October 11, 2024 - was filed too late. The Real Property Tax Act stipulates that all objections to valuations, and assessed taxes, must be served within 30 days of publication - a deadline that Reunion and its clients failed to meet.

And Shunda Strachan-Missick, the real property tax chief valuation officer and Department of Inland Revenue’s principal, in a July 11, 2025, letter to a Bahamian agent for Reunion Cay and the companies it manages, argued that the latter “have made no attempt to settle their tax arrears” - then totalling a combined $9.746m in combined taxes, surcharges and collection fees - despite some sums having been outstanding for a decade or more, the oldest going back to 2011 and 2012.

Ms Strachan-Missick added that, even if Reunion Cay and its client companies had submitted their objections prior to the late 2024 deadline, it would have made no difference because they were still in non-compliance with the Real Property Tax Act’s section 12 (3). This requires objectors to real property tax assessments to pay 100 percent of the disputed sum into an escrow account where it is held, pending the outcome of the hearing, before any Tax Appeal Commission challenge can proceed.

The DIR chief did not respond to a Tribune Business e-mail seeking comment before press time last night. However, John McDonald, Coakley International’s vice-president, backed Mr Coakley’s assessment of the situation and told this newspaper: “None whatsoever” when

asked whether he was concerned that the West End land purchase will be held up or blocked. “I was in Nassau yesterday [last Thursday], all of us with Thomas Dean and a few other officials,” Mr McDonald said. “We were told it’s pretty much going nowhere. It must be their last hurrah.”

The Tax Appeals Commission challenge is spearheaded by Lubert Adler, the investment bank that was Ginn’s former financing partner, and Orlando-based Kingwood International Resorts, which is the entity behind Reunion Cay Island Resort LLC. Kingwood has been attempting to acquire the rights and title to the West End project from Lubert Adler.

Lubert Adler took over the Ginn development’s core property, and the neighbouring Old Bahama Bay resort, after the original developer defaulted on its debt some 14-15 years ago. It has been seeking a buyer, and exit route, for some time.

Tribune Business previously reported it had done an offshore deal with Kingwood where the latter’s principals took control of LRA-OBB, the entity that owns the Old Bahama Bay resort, and other affiliates, via a transaction that was concluded outside The Bahamas whereby they assumed Board and management control.

However, Kingwood has struggled to obtain the necessary government approvals to cement the deal and, to this day, has been unsuccessful in at least two applications to acquire them. It does not posses an International Persons Landholding Act permit to authorise and legally secure its ownership of Bahamian real estate.

Phylicia Woods-Hanna, the Bahamas Investment Authority’s (BIA) director, confirmed in September 2023 that Kingwood had been rejected as the Ginn project’s prospective purchaser because it was “unable to satisfy the Government of their fitness to do business in The Bahamas”.

However, this newspaper was also told that no formal submission or application has been made to either the Bahamas Investment Authority (BIA) or National Economic Council (NEC), the latter of which is either the Cabinet or a Cabinet committee or sub-committee, for the necessary approvals by Coakley International - something the Prime Minister himself confirmed during his end-February Grand Bahama press conference.

Mr McDonald is also president of Island Ventures Resort and Club (IVRC), the entity formed by the 73 condo owners to keep Old Bahama Bay open following Ginn’s 2011 default. Tribune Business has reported extensively on efforts by Lubert Adler and Kingwood to replace IVRC as Old Bahama Bay’s management company. Prior to Coakley International’s $26m deal with the Treasurer surfacing, this newspaper understands that the LRA-OBB partners were in the process of obtaining all necessary approvals - including Central Bank exchange control approval - before making a renewed attempt to force IVRC out.

Mr Coakley asserted that, as part of his group’s plans, they have acquired “an ownership interest in Old Bahama Bay” itself although he declined to provide specifics on the purchase price and size of the equity stake taken.

LEGAL NOTICE

SAVOIR WINE HOLDING LIMITED

NOTICE IS HEREBY GIVEN as follows:

a) SAVOIR WINE HOLDING 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 9th February, 2026 when the Articles of Dissolution were submitted to and registered by Registrar General.

c) The Liquidator of the said company is Tatiana Jasgovicius Pinheiro whose address is Rua Araguaia, Vila Curuca, Santo Andre, State of Sao Paulo. Dated 10th day of February, A.D. 2026

Tatiana Jasgovicius Pinheiro LIQUIDATOR

BDB names first-ever female deputy chief

THE Bahamas Development Bank (BDB) has named Sumayyah Cargill as its first female - and youngest-ever - deputy managing director.

After joining the bank in 2019 as a business analyst, she has advanced steadily through progressively senior roles and currently also serves as the BDB’s executive manager of strategic development, initiatives and communications.

The Bank, in a statement, added that Ms Cargill has over the past six years led the development and execution of the its strategic plans, championed innovative and blended financing approaches, and strengthened the institutional frameworks that underpin sustainable, inclusive growth.

It added that she is spearheading the Bank's green climate fund (GCF) accreditation process and has introduced foundational governance tools, including its environmental and social management system

AI is spurring a big expansion of high-voltage power lines. Landowners and locals are fighting back

By MARC LEVY Associated Press

FOR John Zola, the 40 acres were like a paradise: apple orchards tucked into northern Pennsylvania’s rolling hills, a barn, meadows and more than enough land for four houses: one for himself and his wife and each of his three adult children. It’s been “hell,” however, since a contractor hired by the local power utility knocked on Zola’s door in late 2024 and informed him that it planned to build a 500-kilovolt power line through his property. The 240-foot metal towers would reach 10

times as high as the century-old apple trees they’d plow through and loom over the Zolas’ homes and the basketball court and swimming pool where his grandchildren play.

This line and others like it are being planned in accelerating numbers in the United States to deliver power, sometimes across

hundreds of miles, to enormous data centers run by the world’s biggest tech companies. Although advances in artificial intelligence are seen by President Donald Trump as critical to the nation’s economic and national security, their energy needs are threatening to overwhelm the power

(ESMS) and gender-responsive development policies, to position the BDB as a partner in climate and development finance.

Ms Cargill has represented the BDB and The Bahamas at international forums held in New York, Egypt and Colombia, participating in talks on sustainable development, climate finance and inclusive economic growth.

"Ms Cargill's appointment reflects both her exceptional professional achievements and the confidence the bank places in her leadership. As we continue

grid — and people like Zola are caught in the middle.

The local utility, PPL, said it did everything it could to balance the impact on people with its obligation to deliver electricity and protect grid reliability. But to Zola, all they care about is money.

“They don’t look at whose lives they are destroying, whose property they are destroying,” Zola said.

Big power lines, big data centers

These high-voltage power lines are the latest front line in the battle over tech firms’ massive operations.

Angry local opposition has sprouted against dozens of the behemoth data centers amid fears of rising electricity costs and irreparable damage to their communities.

Opponents of transmission projects are similarly motivated: they say the lines are intruding on the sanctity of private land and threatening long-lasting harm to sensitive public lands, farms, property values and pristine waterways — all for

to expand our role as the country's national development finance institution, her vision and expertise will be essential to driving innovative solutions for the people of The Bahamas,” said BDB managing director, Dave Munroe

The BDB said that Ms Cargill, a graduate of Dalhousie University with a degree in industrial engineering, brings a systems-thinking approach to development finance that integrates policy, finance and operational design to produce durable, sustainable outcomes.

electricity that they don’t think benefits them.

Transmission projects have always faced challenges and yearslong permitting processes, and two decades of relatively flat power demand didn’t inject much urgency.

But analysts say the grid remains inefficient, aging and, with demand spiking, on the verge of causing widespread blackouts on the coldest or hottest days. Utilities contend that any new transmission line — even those driven primarily by large customers, like data centers or industrial sites — benefits everyone by adding capacity to the grid.

Some members of Congress want to exclude lines from state or certain environmental reviews, while some tech companies are trying to build their own power plants, or next to one, in part to avoid a quagmire.

These transmission projects aren’t local power lines on wooden poles. Rather, these are lines on steel towers five or six times as tall, carrying power in bulk across long distances.

NOTICE

NOTICE is hereby given that EMMANUEL PAUL of #39 Eaton Road, off Yellow Elder Gardens, Nassau, 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 twenty-eight days from the 2nd day of MARCH, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that KEVIN DUCENORD of General Delivery, Queen’s Highway, Governor’s Harbour, Eleuthera, 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 2nd day of MARCH, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DEBORAH BROWN APPIAH of Fox Hill, New Providence, 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 2nd day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that RONALD MESIDOR of Podoleo Street, New Providence, 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 2nd day of Marh, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Agriculture no longer ‘a sector of last resort’

A CABINET minis-

ter says The Bahamas has launched multiple initiatives to integrate technology into agricultural production, as he asserted that the industry is no longer viewed as “a sector of last resort”.

Jomo Campbell, minister of agriculture and marine resources, while speaking on a panel at the United Nations’ Food and Agriculture Organisation’s (FAO) 39th session of the regional conference for Latin America and the Caribbean, said digitisation and a national egg-laying programme - the Golden Yolk initiative - are among the initiatives led by The Bahamas.

Emphasising that innovation and technology must remain central to national and regional transformation efforts, he added: “Agriculture is not a sector of last resort, but has now become a pathway for dignity and prosperity. Digital technology, data-driven decisions and systems allow us to produce more with less, to reach markets faster and to meet international standards with confidence.”

Mr Campbell added that The Bahamas has introduced a range of initiatives to support this transition, including digitisation, smart agriculture, the national

layer programme, an annual agri expo, expanded fish and farm stores, and increased grants for eligible farmers and fishers. He also highlighted the launch of an agriculture and marine cadet programme, which attracted more than 130 student participants within its first month.

Mr Campbell made these remarks while participating virtually in the ministerial roundtable on ‘Driving agrifood systems transformation: Key triggers and strategies for transforming agrifood systems in Latin America and the Caribbean’.

The conference brought together representatives from countries across the Latin America and the Caribbean in Brasília, the Brazilian capital, to define priorities and strategic orientations that will guide the FAO’s work during the 2026–2027 period.

During five days of deliberations, member states examined the main challenges facing agrifood systems in Latin America and the Caribbean, including the persistence of hunger and all forms of malnutrition; growing vulnerability to climate change; increasing pressure on natural resources such as water, soils and forests; and

NOTICE MESA LTD.

Incorporated under the International Business Companies Act, 2000of the Commonwealth of The Bahamas. Registration Number 210729 B (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 6th day of March, A.D. 2026.

Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. MARCO ANTONIO SALING, whose address is RUA BAROJO 552 QD 15 LT 01 CAMPO GRANDE - MS BRAZIL CEP: 79046-234. Any Persons having a Claim against the above-named Company are required on or before the 6th day of April A.D. 2026 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 6th day of February A.D. 2026. MARCO ANTONIO SALING Liquidator

Legal Notice

CASTLE PROPERTIES LTD.

Registration No. 38055B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of CASTLE PROPERTIES LTD. has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st of December, 2025

Crowe Bahamas Liquidator

LEGAL NOTICE

NEU Private Equity Limited

Registration No. 160262B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of NEU Private Equity Limited has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st of December, 2025.

Crowe Bahamas Liquidator

the need to expand public and private investment in the sector.

“Allow me to reiterate FAO’s commitment. We will continue working with member states to implement the priorities defined here: Strengthening food security and nutrition; promoting evidence-based policies; mobilising investments; advancing technological and digital innovation;

reinforcing resilience to crises; and supporting the development of more efficient, inclusive, resilient and sustainable agrifood systems,” said the FAO assistant director-general and regional representative for Latin America and the Caribbean, Rene Orellana Halkyer.

Countries attending the conference adopted by consensus a final report establishing a regional

Notice is hereby given that, in accordance with Section 138 (8) of the International Business CompaniesAct, No.45 of 2000, the Dissolution of Da Yu Limited, has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the _______ day of _______________, 2026. January 16th

Legal Notice

National Capital Services LTD

Registration No. 205218B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of National Capital Services LTD has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st of December, 2025.

Crowe Bahamas Liquidator

Legal Notice

Worldwide Demon Endorsements Incorporated Registration No. 203602B

INTERNATIONAL BUSINESS COMPANIES ACT (No.45 of 2000))

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of Worldwide Demon Endorsements Incorporated has been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st of December, 2025.

Crowe Bahamas Liquidator

road-map to advance towards more efficient, inclusive, resilient and sustainable agrifood systems.

Among the key messages emerging from the conference was the need to intensify efforts to eradicate hunger in the region, plus leveraging agriculture’s significant productive potential and its strategic role in global food security.

Discussions also underscored the importance of strengthening evidence-based public policies, promoting technological and digital innovation, and accelerating the adoption of sustainable practices to address the impacts of climate change. The conference also highlighted the fundamental role of climate action, sustainable natural resource management, and the One Health approach in ensuring food security and nutrition for populations.

Countries agreed that mobilising investments

will be essential to advancing this agenda, requiring stronger strategic partnerships and efforts to close the financing gaps that hinder the transformation of agrifood systems. Member states also reaffirmed the importance of regional co-operation, south–south co-operation and multilateralism as essential tools to address shared challenges and accelerate sustainable development. Some 512 participants from 32 member states attended the conference, including one head of state; 42 ministers, vice-ministers and permanent secretaries; and 22 ambassadors; as well as representatives of international organisations, civil society organisations, academic institutions, parliamentary fronts against hunger and the private sector. More than 7,000 people followed the sessions through FAO’s digital platforms and social media.

Legal Notice

International Business Companies Act No.45 of 2000

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 31st day of December, 2025.

Notice is hereby given that, in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the Dissolution of been completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the dissolution was the 31st day of December, 2025.

Notice is hereby given that in accordance with Section 138 (8) of the International Business Companies Act, No.45 of 2000, the dissolution of completed, a Certificate of Dissolution has been issued and the Company has therefore been struck off the Register. The date of completion of the Dissolution was the 31st of December, 2025.

Crowe Bahamas Liquidator

Women praised for shaping Bahamas’ maritime industry

EXECUTIVES from the maritime, tourism, security and environmental sectors of The Bahamas gathered at the second annual Nassau Cruise Port International Women’s Day leadership forum to highlight the growing influence of women in shaping the future of the nation’s marine economy.

The ‘Give to Gain’ event, held at the British Colonial Nassau, brought together representatives from government, industry, education and non-profit organisations to discuss leadership, sustainability and cross-sector collaboration within the maritime ecosystem.

Participants included representatives from the Ministry of Energy and Transport; Ministry of Tourism, Investments and Aviation; Royal Bahamas Defence Force; Royal Bahamas Police Force; Immigration Department; Road Traffic Department;

Disney Cruise Line; Royal Caribbean Group; LJM Maritime Academy; Higgs & Johnson; Fowlco Maritime & Project Services; the University of The Bahamas; and the Bahamas National Trust (BNT).

JoBeth Coleby-Davis, minister of energy and transport, gave a keynote address that encouraged women across the maritime and transportation sectors to think about their leadership potential and act with urgency in driving the industry’s future.

“You cannot be what you cannot see,” said Mrs Coleby-Davis. “The Bahamas is a global maritime powerhouse, and at the heart of this industry are women who are proving every single day that leadership knows no gender. Make sure what the next generation sees when they look at you is limitless.”

Dorothy Duckie, regional director of human resources

at Nassau Cruise Port, highlighted the importance of creating opportunities for women across maritime careers - from operations and logistics to environmental stewardship and leadership - while emphasising the role of collaboration in strengthening the industry.

The programme featured two panel discussions examining the future of the port economy and the shared responsibility of industry partners in building a resilient and sustainable maritime sector.

The first panel, ‘Women powering the port economy: Cruise, cargo and tourism’, explored leadership pathways and collaboration across the cruise, cargo and tourism sectors. Panellists included Amanda Freedman, commercial manager and events curator, Nassau Cruise Port; Vandia Toote, general manager of romance and

celebrations, Ministry of Tourism, Investments and Aviation; Maya Nottage, regional marketing director, Nassau Cruise Port; Dr Richard Wiefelspeutt, president, LJM Maritime Academy; and Glennett Fowler, president and chief executive, Fowlco Maritime & Project Services.

The discussion highlighted workforce development, economic growth and opportunities for women across the maritime industry.

The second panel, “Beyond the Port: Building a resilient and sustainable maritime future’, focused on maritime safety, environmental stewardship and infrastructure resilience. Panelists included Lieutenant Commander Thora Gardiner, human resources officer, Royal Bahamas Defence Force; Joey Gaskins, regional public affairs director for The Bahamas and Caribbean, Disney Cruise Line; Portia Sweeting, director of education, Bahamas National Trust; and Lionel Turnquest, director of projects and facilities at Nassau Cruise Port. The discussion highlighted the importance of cross-sector collaboration in safeguarding marine environments, strengthening climate resilience,

and ensuring sustainable growth across the maritime industry.

Nassau Cruise Port partnered with PACE Bahamas, an organisation dedicated to supporting young mothers in continuing their education. Attendees were invited to bring donations of feminine hygiene products and baby supplies, which were presented to representatives of PACE Bahamas during the event.

“The strength of our maritime sector lies not only in infrastructure and operations, but in the partnerships and leadership that drive it forward,” said Maya Nottage, regional marketing director at Nassau Cruise Port. “Events like this create space for meaningful dialogue, mentorship and collaboration while recognising the important contributions women continue to make across our industry.”

Now in its second consecutive year, Nassau Cruise Port’s International Women’s Day forum reflects the port’s ongoing commitment to fostering inclusive leadership, strengthening partnerships across the maritime eco-

and supporting initiatives that benefit the wider community.