03182026 BUSINESS

Ginn sale halt Order ‘small speed bump’

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE developer behind an ambitious $6.5bn proposal for the former Ginn project yesterday branded the Supreme Court Order affirming the Government’s “undertaking” not to proceed with selling 59 percent of that property as “a small speed bump”, while asserting that a rival ownership claimant “doesn’t have a leg to stand on”.

$6.5bn developer: Rival ‘doesn’t have leg to stand on’

But Supreme Court affirms Gov’ts pause ‘undertaking’

Treasurer can’t close sale until $10m tax dispute over

John McDonald, vice-president of Coakley International, told Tribune Business that LRA-OBB and Resorts Holdings, the two companies that hold the combined 1,931 acres that comprise the failed Ginn development in Grand Bahama’s West End, have failed to pay a cent towards the near-$10m real property tax arrears alleged to be owed to the Public Treasury on that land. With a portion of that sum said to have been outstanding for decades, he questioned how the rival ownership claimants could justify asserting “they want” to retain this real estate when the Department of Inland Revenue (DIR) has now accepted the $26m offer by Coakley International’s affiliate, Bristol Pointe Ltd, to purchase 1,143 acres. However, the sales process hasat least temporarily - been halted a Supreme Court Order, signed by Justice Franklyn Williams on March 12, 2026. This stipulates the Department of Inland Revenue and the Bahamas Treasurer take

Tropical Gyros chief: Employment law not matching the reality

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

A BAHAMIAN restaurant entrepreneur yesterday argued this nation’s employment laws and regulations fail to match the realities businesses face in dealing with disruptive and non-performing staff after the Industrial Tribunal ordered him to pay $3,822 to an ex-employee fired for violating the company’s recipes.

Chef Kevin Culmer, founder of Tropical Gyros, even told Tribune Business

that the Government and employment dispute tribunals need to “stand with” legitimate businesses more and have their “back” as he pledged to appeal the sum awarded to Ricardo Jones, a former cook with managerial status, who worked at the now-closed Freeport restaurant.

The Industrial Tribunal, in a February 17, 2026, verdict delivered by its vice-president, Helen Almorales-Jones, found in Mr Culmer and Tropical Gyros’ favour on two of three claims brought by Mr Jones. However, she ruled that the latter

Rosewood Exuma battle ‘drones’ on over construction gear arrival

BY NEIL HARTNELL Tribune Business Editor

nhartnell@tribunemedia.net

THE $200m Rosewood

Exuma developer and its leading opponent yesterday renewed battle over Monday’s delivery of construction-related materials and equipment to the project site on Sampson Cay. Turtlegrass Resort and Island Club, which will be the development’s immediate neighbour, used the equipment’s arrival - by barge transportation - to press its case for a Supreme Court injunction that would block Miamibased Yntegra Group from undertaking any construction activity while its Judicial Review challenge seeking to overturn the project’s environmental approvals remains live before the courts.

But, while Jeffrey Clark, Turtlegrass’ chief financial officer, alleged that Monday’s equipment arrival was “consistent with ongoing works” even though Yntegra has not received preliminary site plan approval from the Town Planning Committee, the Rosewood Exuma developer asserted that the materials are “simply being stored” on Sampson Cay and “no activity is being conducted” prior to the Supreme Court’s decision on whether an injunction should be granted.

Seemingly anticipating Turtlegrass’s complaint, Nicholas MacLean, head of operations for Yntegra Capital and its Sampson Cay Bahamas project vehicle, asserted in a Supreme Court affidavit: “On Monday, March 16, 2026, Sampson Cay Bahamas

no further steps to close the deal with Coakley International, which is pledging to unleash a development creating 2,800 construction jobs and 6,000 permanent posts for Bahamians, until the challenge LRA-OBB and Resorts Holdings are mounting over the unpaid tax is resolved.

had been wrongfully dismissed because the restaurant chain, one of the two businesses successfully financed through the now-defunct ArawakX crowd-funding platform, failed to provide sufficient evidence to justify his summary termination.

Ms Almorales-Jones ruled that Tropical Gyros had not conducted an extensive enough investigation, as required by the Employment Act’s section 33, to establish “reasonable grounds” for “an honest and reasonable belief” Mr Jones “continued to render unsatisfactory performance in the quality of food preparation by failing to adhere to the recipes and guidelines” following his return to work following suspension for this failing.

And, besides failing to meet its “statutory burden”

The Order, which has been seen by this newspaper, mandates that the Department of Inland Revenue and Treasurer “do respectfully undertake not to complete the sale of the property…. until after the completion of the appeal proceedings lodged” by the two rival ownership claimants and their managing agent, Reunion Cay

Pledges to appeal

$3.8k wrongful dismissal award

Now-closed Freeport outlet cost restaurant

$500k

Manager pay cut 20% for 3 months on ‘serious theft’

on this issue, the Industrial Tribunal also faulted Tropical Gyros for dismissing Mr Jones - who had been with the company for less than one year - without one month’s termination pay with notice or in lieu or notice, and just under another’s salary representing his time of service.

delivered equipment to its property at Sampson Cay.

The delivery included a water truck, pipes, tools, fertilizer, a greenhouse, a generator, equipment service kits for the maintenance of equipment,

maritime and other general supplies.

“The equipment delivered to Sampson Cay today will be necessary to conduct the geotechnical

Bimini marina’s ‘very scary zeroes’ for May

BY ANNELIA NIXON Tribune Business Reporter

anixon@tribunemedia.net

ROOM bookings for the traditional May start of The Bahamas’ summer boating season are “in the zeroes”, a Bimini marina operator revealed yesterday, backing concerns voiced by a government senator who is bidding to become the island’s MP.

Stephen Kappeler said Bimini Big Game Club Resort and Marina continues to suffer a decline in slip nights, which is also negatively impacting its food and beverage sales. “Remembering we're Bimini, and so what's happening in Bimini has to be happening at every other marina going forward,” he added. “There might be Staniel Cay or a couple standouts because I've heard like some in the

Exumas haven't been hurt that bad.

“Because the slip nights are off renting, and we've had lower a rate as much as a dollar times every boat, times every foot, as you can imagine we had to run some two for one; stay one night, get the second night free. We're significantly down in our marina business.

“The marina business, what everybody needs to understand is what brings

a room night. Most of these boats, if they have a sailboat they want to get off and sleep in a comfortable room and have real TV and what have you. When we don't get the dockage, we don't get the rooms. Then the food and beverage is impacted,” Mr Kappeler added.

“And so, like, maybe already to the month we're $50,000, $60,000…. that's a

Island Resort LLC, with the Tax Appeal Commission. Tribune Business had previously revealed that Justice Williams refused to grant LRAOBB and Resorts Holdings permission to proceed with their Judicial Review challenge to the

PM touts VAT elimination ‘solution’ but no specifics

BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Prime Minister last night said talks with major food retailers had found “a solution” to the industry’s fears over the imminent VAT rules change for uncooked foods although he provided no details on what has been agreed.

Philip Davis KC, in a statement issued by his office on yesterday’s meeting with the Retail Grocers Association and its members, renewed his promise that Bahamians families will benefit from lower prices when VAT on all uncooked foods is eliminated on April 1 although he made no mention of any change in VAT treatment.

Tribune Business exclusively revealed last week how Super Value had warned it could incur extra costs of between $300,000 to $400,000 per month, or around $3.6m to $4.8m per year, as a result of the Government’s decision to treat the uncooked food VA elimination as ‘exempt’ rather than ‘zero rated’.

While the latter treatment would have eradicated VAT at all stages of the supply chain, using the ‘exempt’ approach would mean only the consumer, or end purchaser, is not

charged this tax. VAT will still apply at all levels in the supply chain, and ‘exempt’ treatment means businesses such as grocery retailers and wholesalers would have been unable to recover the tax paid on their input expenses associated with purchasing uncooked foods. For example, if uncooked foods account for 60 percent of a merchant’s sales, it would have been unable to reclaim or recover 60 percent of the VAT paid on its light bill, store rents and maintenance expenses. As a result, operating costs will rise, and retailers had warned they may have to increase prices to offset the impact, thereby negating the impact of the uncooked food VAT elimination. Merchants had also warned that introducing VAT ‘exempt’ treatment would make the tax much

Carnival unveils advisory council for Grand Bahama

CARNIVAL has announced the creation of its Grand Bahama Advisory Council in a bid to strengthen community collaboration and ensure initiatives such as its $600m Celebration Key development align with the island’s needs and priorities.

The cruise line, in a statement, said the Carnival Grand Bahama Advisory Council features 12 persons from the island with each representing a diverse cross-section of interests. Members include environmental advocates, activists, representatives of key stakeholder groups such as straw vendors and transportation operators, small and medium-sized business owners, restaurateurs, artists and heads of local non-profit organisations.

Marie McKenzie, Carnival’s senior vice-president of government relations and destination affairs, said: “Carnival’s commitment

extends far beyond the ports we visit and destinations we build. It includes the people, culture and communities that make these places unique.

“We believe in listening first, partnering with intention, and ensuring that our presence delivers meaningful benefits. The Grand Bahama Advisory Council reflects our commitment to consultation, collaboration and resident-guided support.”

Carnival said the Council’s mandate is to provide guidance on a range of topics, including social needs, local concerns and opportunities for meaningful partnership. Members will also advise on Carnival’s Council Community Giving Budget, identifying projects and organisations that can benefit most from targeted support.

While Carnival will retain final approval on all recommendations, it added that

the Advisory Council will play a central role in shaping the company’s local impact.

The inaugural advisory members are:

Nevar Smith – community advocate and cultural tourism operator

Joseph Darville – sustainability and environmental advocate

Romal Russell – restaurateur and local business leader

Lorenzo McKenzie –straw vendor and advocate for local vendors

Nikita Turnquest – visual storyteller and cultural artist

Natalya Poitier – small business entrepreneur and digital influencer

Preston Knowles – visual media specialist and performing arts advocate

Joye Ritchie – community service leader and president of the Pilot Club of Lucaya

Christina Geralene Dean – transportation service professional

Keith Rolle – leader in small and medium-sized enterprise development

Othyneil Pinder – community advocate, Rotary Club of Freeport Collin Cover – community service leader – Kiwanis Club of Freeport

Carnival said council meetings will be held bi-monthly, and members will serve two-year terms. The council will be chaired by Philcher Grant, Carnival’s director of public and community affairs for The Bahamas and Turks & Caicos.

“Philcher’s leadership is especially meaningful because she is one of Grand Bahama’s own,” Ms McKenzie

said. “She understands the island’s resilience, having lived through hurricanes, the pandemic and the economic challenges that have tested this community.

“Her deep Grand Bahama roots, empathy and first-hand knowledge make her the ideal person to guide this council’s work and ensure that every conversation is grounded in the real experiences of Grand Bahamians.”

Carnival said it continues to invest in Grand Bahama through job creation, partnerships, charitable contributions and the development of new opportunities for residents and businesses through Celebration Key. It added that the formation of the Advisory Council marks the company’s latest step in building a longterm, transparent and inclusive relationship with the island’s various communities.

Carnival said it has co-ordinated 17 donations worth about $65,000 to organisations in Nassau and Grand Bahama over the past month, supported by nine visiting ships. In Grand Bahama, Carnival also partnered with the Bahamas National Trust (BNT) on $30,000 in new park infrastructure, donated an ambulance to strengthen emergency response, and expanded its annual back-to-school initiative, providing supplies to hundreds of students in Grand Bahama and South Eleuthera.

Marine resources gets $160k for South Berry Islands

THE Bahamas Depart-

ment of Marine Resources has received $160,000 in financing to develop an updated management plan and co-management framework for the South Berry Islands Marine Reserve.

The Bahamas Project for Marine Conservation (BPMC), in a statement, hailed the funding allocation as one of the largest ever made through a government entity. It is thought the monies originate from the funds freed-up by the Government’s late 2024 debt-for-nature transaction, which saw some of The Bahamas’ existing sovereign bonds refinanced at lower interest rates. These debt servicing savings were to be deployed to environmental and marine conservation.

The BPMC said the Berry Islands financing is part of an initiative that seeks to improve the management of Marine Protected Areas (MPAs) throughout The Bahamas, thus creating a robust and sustainable framework for the country’s key natural resources.

The full partnership features the Department of Marine Resources, Bahamas National Trust (BNT), Forestry Unit, the Department of Environmental Planning and Protection (DEPP) and the Climate Change and Environmental Advisory Unit, acting as the project management unit in the Office of the Prime Minister.

The BPMC project spans 15 years and is centred on sustainable management and the monitoring of Bahamian forests, mangroves, reefs and oceans. Currently, the project is in its second year, with the focus on conducting a management effectiveness assessment for the existing MPAs in 2026. The Department of Marine Resources has awarded the Bahamas Undersea Research

plan

Foundation (BURF) the contract to assist with the delivery of the 'proposal for the South Berry Islands marine reserve (SBIMR) management plan and Resource assessment'.

The BPMC said this is one of many contract awards likely to occur as part of the project. Dr Lester Gittens, the Department of Marine Resources acting director, said: “We are excited to get the ball rolling with BURF after a thorough evaluation process, and their demonstrated expertise, strong track record of delivery and clear understanding of our objectives, which gave us the assurance that they are well-positioned to execute this project successfully.”

The work on the South Berry Islands Marine Reserve plan and framework will take 18 months, and is expected to begin in March 2026. Within the first nine months, BURF is tasked with producing an inception report, an updated resource and threat assessment, and drafting a co-management framework along with a zoning and use plan.

The draft plan will also include sections for a sustainable financing update, conflict resolution and user access, and monitoring and evaluation. Over the final four months, the consolidated draft South Berry Islands Marine Reserve management plan will be produced, followed by a stakeholder validation workshop, final draft plan and the final approved management plan and public launch.

“We believe this partnership will significantly support our efforts and help us move forward efficiently as we move toward alignment with the BPMC strategic goals. We look forward to working collaboratively with BURF and the local communities to achieve meaningful and lasting results,” Dr Gittens said.

National Export Strategy in consultation go-ahead

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

THE BAHAMAS is moving to develop its first National Export Strategy, the Trade Commission’s chairman said yesterday, with Cabinet approving a consultation document that will guide an initiative aimed at increasing this nation’s international competitiveness.

Speaking in Parliament, Senator Barry Griffin, announced that the Davis administrations’s approval clears the way for nationak and international

consultation with stakeholders across multiple sectors. He said the process will involve the private sector, creative industries, professional services providers, entrepreneurs and international partners as the Government seeks to shape a long-term strategy for boosting exports.

The initiative will also receive grant funding support from the Inter-American Development Bank (IDB), providing resources to help develop and implement the national export framework.

“This historic initiative will also be supported by

Tourism fears oil spike to weigh on travel demand

BY FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

TOURISM operators

yesteerday warned that rising global fuel prices could start weighing on travel demand for The Bahamas as the industry monitors geopolitical tensions and their potential impact on the cost of getting visitors to the destination.

Emmanual Alexiou, owner of Abaco Beach Resort & Marina, said the trajectory of oil prices is now one of the biggest uncertainties facing the tourism sector. Speaking to Tribune Business, he said that - while bookings are positive until June - his business saw a sharp decline in early 2026 and there are concerns the global unrest could affect bookings later in the year.

“Bookings for us are good starting now through May, possibly into June. It’s a different kind of traveller at this point in time, and I don’t think the boating fees affect these people too much. The problem is we had a very weak January and a very weak February, and we could have a very weak June and July and beyond. So, it’s a different kind of traveller right now,” said Mr Alexiou.

“The bigger concern would be where oil prices may be going; that could be a deterrent. And then, of course, airlift is another issue that needs to be addressed. Other than that, who knows? There’s a lot of uncertainty in the world.”

Mr Alexiou noted that higher fuel prices have historically slowed the boating market, particularly when gasoline prices climb

PM reassures on BPL bills amid oil price hike

BY FAY SIMMONS Tribune Business Reporter

jsimmons@tribunemedia.net

THE Prime Minister yesterday sought to reassure that Bahamian households will not see an increase in their electricity bills despite the sharp surge in global oil prices sparked by the Middle East conflict.

Philip Davis KC said Bahamas Power & Light (BPL) bills will not jump even as oil prices surge past $100 per barrel - likely due to the December 2025 hedge that saw the stateowned utility lock-in two million barrels of oil at a $70 price.

He added that while many Bahamians have been watching developments overseas and wondering what the conflict could mean for the cost of living at home, policy changes have strengthened the country’s energy system and helped cushion consumers from the current spike in oil prices.

“We have been closely monitoring developments, engaging with our energy partners, and planning for various scenarios. I am grateful to be able to say that policy changes we began to make early in our term have built more resilience into our system,” said Mr Davis.

“In particular, the major energy reforms we’ve put in place, which include major efficiencies and improvements, and risk mitigation strategies, have left us in better shape. That work is still ongoing, but it means we are able to say that your electricity bills, which are lower already from the changes, will not be impacted by the current crisis.”

The conflict in Iran has disrupted the Strait of Hormuz, one of the world’s most critical energy transit points, through which a significant share of global oil and liquefied natural gas (LNG) shipments normally pass. As a result,

grant funding from the Inter-American Development Bank, ensuring that this strategy is backed not only by vision but by resources,” said Mr Griffin.

He said the strategy will represent the first time The Bahamas develops a single national document outlining the country’s export priorities, including which industries it intends to promote internationally and the markets where trade missions and partnerships will be directed. The document will also identify sectors where the Government intends to focus investment and

toward the upper range.

“Fuel prices always have an effect,” he said. “Even in the past, when we’ve had $7 and $8 a gallon, that slowed the boating world down.

“But nothing happens in isolation. It also depends on what’s going on in the rest of the world. If the U.S. economy is good and oil prices go up a little for a short period of time, people take that into account. So, yes, it will have some effect. How big that effect is will depend on many factors.”

Mr Alexiou said an increase in oil prices would be a “double edged sword” for resort operators as demand could slow while operational costs increase.

“We always worry about the cost of people getting here. That’s very important, because if they don’t come here, we have no income,” he added.

“But at the same time as we’re losing income, our costs go up. Electricity goes up. People who live and work here still have to drive cars, so their costs go up, too. Your operating costs go up at the same time your income goes down.

on Tuesday morning, before being transported to Great Inagua.

international oil prices have surged from roughly $70 per barrel earlier this year to above $100 per barrel.

Mr Davis said such shocks normally have significant implications for small island economies such as The Bahamas, particularly because rising fuel prices can feed through to electricity costs, shipping costs and eventually grocery prices.

He also warned that periods of global instability can create wider regional pressures beyond energy markets, including illegal migration and maritime smuggling.

“The Royal Bahamas Defence Force remains on alert. From Great Bahama Bank to Cay Sal Bank and to Anguilla Cay, we are actively monitoring our maritime space. Our assets remain in the southern Bahamas, and we are working closely with the United States Coast Guard and other partners,” said Mr Davis.

He said that presence has already produced results, with Defence Force personnel intercepting 57 migrants in the Little Inagua area over the past two days. Twenty-nine migrants were apprehended on Monday and another 28

Mr Davis added that strong border monitoring remains essential in an uncertain global environment, noting that the Government has invested in strengthening the Defence Force’s capacity since taking office.

“That operation is a reminder that border security is daily work. It requires investment, co-ordination, readiness and strong partnerships,” said Mr Davis

“That is why, when we came to office, we invested in strengthening the capacity of the Royal Bahamas Defence Force. We understood that in an uncertain world, a country like ours must have the ability to monitor, respond, and protect its territorial integrity.”

Mr Davis said the gGovernment will continue to monitor global developments closely while maintaining communication with international partners. “All options are on the table to protect the livelihoods of Bahamians. We will keep working to protect families from the worst effects of global instability,” he added.

“We will keep working to secure our borders and our waters. We will keep working with partners at home and abroad. And we will keep making decisions with the country’s long-term interest in mind.”

research to strengthen export competitiveness. Services exports are expected to form a major pillar of the strategy.

Mr Griffin noted that Bahamian professionals already export services informally, pointing to lawyers providing legal expertise, bankers offering financial services and local architects and engineers contributing to major development projects internationally.

He added that the strategy aims to build on that foundation by helping these professionals expand their reach further into

It’s really a double-edged sword.”

Stephen Kappeler, general manager of Bimini Big Game Club Resort & Marina, said rising fuel costs could further strain tourism activity that has already shown signs of weakness on the island. “You can see the shortfall in the economy just walking the streets in Bimini; they’re empty,” he added.

“Restaurants have cut staff in half, and servers aren’t working the way they were before. This is affecting the Bahamian people. Forget for a minute what it’s doing to the international boating crowd. It’s impacting them too, of course, but the real impact is on the local economy.”

Mr Kappeler warned that a sharp increase in gasoline prices could discourage boaters from making longer trips to The Bahamas at a time when many residents are already feeling their budgets strained.

“The increase in gas — and gas could easily go to $7, maybe higher — is absolutely going to impact

international markets. At the same time, the initiative will seek to formally incorporate creative industries into The Bahamas’ export framework.

“And, similarly, now we must also recognise the export potential of our creative industries. Our musicians. Our filmmakers. Our designers. Our storytellers. The next chapter of Bahamian exports will

people doing longer-term visits,” said Mr Kappeler.

“Some people may still jump over to Bimini for the day because they can come over in two hours, get a conch burger and run home. But for the important business that reaches the 16 Out Islands and Nassau, higher gas prices will be another blow.”

Mr Kappeler added that early booking trends are already showing signs of weakness. “Easter bookings are off. Our May bookings are off. It’s not looking good,” he said. “Typically by now we’re already starting to see demand building, but we’re not even seeing the beginning of that interest.”

Nathaniel Adderley, owner of Nathan’s Lodge in Andros, said it may still be too early to determine whether rising travel costs will affect visitor demand.

“I haven’t seen the effects yet, but I expect there will be some fall-out from the cost of airfare and travel. And right now, there’s also the TSA situation in the US. I think that will probably calm down people who

include not only goods and professional services,” said Mr Griffin.

He said the “orange economy” represents an emerging economic opportunity for The Bahamas as global demand grows for cultural and creative content.

Mr Griffin said the Davis administration intends to work closely with the creative sector, including collaboration with the Creative and Performing Arts School (CAPAS) and the Orange Economy Unit, to develop policies that support the international export of Bahamian cultural and creative products. He added that the consultations now being launched will help shape the final National Export Strategy, which is expected to outline the country’s long-term approach to trade promotion and export growth.

were intending to come,” said Mr Adderley.

He added that some guests have already secured travel plans months in advance, limiting the immediate impact of higher air fares.

“We have some people who already got their tickets, so that’s one good thing; we’re covered up to May,” said Mr Adderley. “In one case, we even have people who already booked for November.”

However, he added that potential visitors appear to be watching global developments before committing to travel. “We have a couple inquiries where people haven’t pulled the trigger yet, so I’m waiting to see how they behave,” said Mr Adderley.

“I suspect people are watching that situation as well. It’s probably too early to say, but I expect it could have some negative impact for us.”

Mr Culmer, who revealed to this newspaper he has lost $500,000 in subsidising the Freeport restaurant’s losses prior to closing it down last year, said he had been left somewhat baffled and confused by the wrongful dismissal verdict.

“I feel the Employment Act and regulations put on employers don’t take into account what happens on the ground,” he asserted.

The Tropical Gyros chief, who confirmed that Mr Jones was fired for departing from the restaurant chain’s specialist recipes and ingredients without permission, said this practice had cost it sales and customers because “it affected the flow of business in the restaurant. Persons stopped coming back; they were saying the food didn’t taste the same.

“It becomes very challenging when these things happen,” Mr Culmer added.

“It’s unfortunate we had to get to to this point. There was a verbal and written contract that if changes were made to the recipes without permission that’s grounds for instant dismissal. He was terminated because he admitted in the

initial interview with the Labour Board representative he did change the recipe, but he didn’t have the authority to change it because the recipe is my intellectual property.”

The Industrial Tribunal verdict went better for Mr Culmer, though, when it rejected Mr Jones’ claim that Tropical Gyros “unlawfully cut his pay” by 20 percent for three months starting with the November 15, 2024, pay period. This was triggered by concerns that “some stealing was going on” at the Freeport restaurant based on its financial performance for summer 2024.

Rather than terminate management and staff, since “he could not prove who was stealing:, Mr Culmer produced a November 12, 2024, letter requiring managers to assume responsibility for failing to detect and prevent this by accepting a 20 percent pay cut for three months.

“As per our managers meeting on Saturday, November 2, this letter is to formally notify you of the decision that was made at that meeting to cut the managers pay by 20 percent for three months,” Mr Culmer told staff. “This is

NOTICE

NOTICE is hereby given that I, JOHNSON DAVILMAR of Market Street, 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 18th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

in direct response to the gross mismanagement of the affairs of Tropical Gyros Freeport resulting in losses in excess of $72,000.

“These losses occurred via theft in many forms, and while we do not have court provable evidence of which individuals were involved, the numbers point to excessive spending month over month on inventory products even with declining sales.

“Additionally, after this was initially pointed out in the beginning of September, we have seen a return to more normalised cost of goods which further supports the statement of gross theft during the months of July and August. This pay cut will take effect on the November 15 payroll and will continue for three months. After the end of the three-month period, we will reassess where we are and make any necessary changes as need.”

Mr Jones denied being involved with any stealing, and alleged that the letter was unfair. He claimed Mr Culmer then threatened to report him to the Labour Board, but “at no time did he agree to take a 20 percent pay cut for three months.

“He agreed that the respondent [Tropical Gyros] did cut his pay for three months and he allowed them to do it because Mr Culmer had threatened them by saying if they did not sign the letter, he would tell the Labour Board that we were stealing from him,” the Industrial Tribunal said of Mr Jones’ evidence.

However, Mr Culmer, in evidence submitted to the Industrial Tribunal to justify Tropical Gyros’ stance, said: “In September 2024, it was discovered that there was a massive theft ring within the restaurant to the tune of $63,000 in inventory over expenditures. It was pointed out that during the months

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division 2025/CLE/qui/00611

COMMONWEALTH OF THE BAHAMAS IN THE SUPREME COURT Common Law and Equity Division 2025/CLE/qui/00611

IN THE MATTER OF ALL THAT piece parcel or lot of land containing an area of Eight Thousand Nine Hundred and Seventy square feet (8,970 sq.ft) situated at the southern-western corner of Plantville Close and Ceira Close in the Subdivision called and known as “Briceville Subdivision” in the Eastern District of the Island of New Providence one of the Islands of the Commonwealth of The Bahamas AND IN THE MATTER of the Quieting Titles Act of 1959 AND IN THE MATTER of the Petition of the Wendy Knowles

IN THE MATTER OF ALL THAT piece parcel or lot of land containing an area of Eight Thousand Nine Hundred and Seventy square feet (8,970 sq.ft) situated at the southern-western corner of Plantville Close and Ceira Close in the Subdivision called and known as “Briceville Subdivision” in the Eastern District of the Island of New Providence one of the Islands of the Commonwealth of The Bahamas AND IN THE MATTER of the Quieting Titles Act of 1959 AND IN THE MATTER of the Petition of the Wendy Knowles

NOTICE OF PETITION

NOTICE OF PETITION

The Petition by Wendy Knowles the island of New Providence one of the Islands of the Commonwealth of the Bahamas in respect of:-

The Petition by Wendy Knowles the island of New Providence one of the Islands of the Commonwealth of the Bahamas in respect of:-

ALL THAT piece parcel or lot of land running alongside private property at its SOUTHERN end Seventy-Seven and Seventy-two hundredths feet (77.72 ft) and running at its EASTERN end alongside Ceira Close Eighty-Six and Two hundredths feet (86.02 ft) and running at its NORTHERN end alongside Plantville Close Forty-Four and Eighty-Three hundredths feet (44.83 ft) and running at its WESTERN end some One Hundred and Eighteen and Ninety-Seven hundredths feet (118.97 ft) alongside private property AND situate in the Subdivision called and known as “Briceville Subdivision” in the Island of New Providence one of the Islands of the Commonwealth of The Bahamas

of July and August, our cost of goods far exceeded the normal business model costing upwards of 91 percent of our revenue.

“As an example, in August 2024 we achieved revenues of $73,000 but spent on inventory alone $66,430, representing 91% percent of our revenue. Once I was able to certify this I met with management, of which Mr Jones was a part of being the kitchen manager, and expressed that I would be conducting a full audit to determine who was responsible and, if they were caught, I would prosecute to the full extent of the law.

“At the end of September we achieved sales of $69,250 but only spent $44,187 - some $45,000 [sic, $21,000] less on inventory but yet only doing $4,000 less in sales. This proved to me that the theft has now been curtailed,” Mr Culmer added.

“In determining the way forward I was left with two options: Terminate all the managers for incompetence in allowing it to happen, terminating all staff and closing and hiring new management and staff to continue operations. Or ask management to take all take a pay cut of 25 percent to allow for the company to continue moving forward or they could resign their employment. Every manager, including Mr Jones, agreed and signed a letter to this effect. This proved to me that the theft has now been curtailed.”

The Industrial Tribunal did not find Mr Jones to be a credible witness on this issue. “The applicant initially testified, ‘I can’t remember if I signed this letter agreeing to the pay cut’ and subsequently said, ‘I don’t remember signing it’. Given his dubious and conflicting response, the Tribunal believes that he did sign the letter to signify his consent to the deduction.

“If he did not agree to the deduction, then the respondent [Tropical Gyros] cutting his pay by 20 percent for three months without his consent amounted to a significant breach going to the root of the employment contract, which entitled the applicant to affirm the contract and insist on its

further performance by the respondent or accept the respondent’s repudiation of the contract and consider himself constructively dismissed by the respondent.”

The Industrial Tribunal continued: “In the instant case, the Tribunal finds that the applicant has failed to establish that the respondent’s chief executive/ president told him, if he did not agree to the decision to cut his pay by 20 percent for three months, he would tell the Labour Board that the Freeport management team had been stealing from him, amounted to a coercion of the applicant’s will so as to vitiate his consent to the salary deduction.

“The Tribunal dismisses the applicant’s claim for unlawful deductions as he has failed to prove, on a balance of probabilities, that the respondent had unlawfully deducted 20 percent of his wages for three months from November 15, 2024.”

Mr Culmer yesterday asserted to Tribune Business that all Freeport managers, including Hallie Jupp, his step daughter, as well as Mr Jones had agreed to take a pay cut. “I didn’t know who was responsible for the theft, but local management were responsible for the restaurant,” he added.

The Tropical Gyros chief said the Freeport outlet’s “cost of goods” went from 39 percent of its $97,000 sales for June 2024, the month it opened, to 84 percent of July’s sales which were some $12,000 less at $84,000. This expense, though, then shot up to 94 percent of August 2024’s $73,000 sales, meaning that Tropical Gyros was spending more on goods that month despite a $23,000 sales decline compared to June two months’ prior.

Asserting that this was when he realised “some serious theft” was going on, Mr Culmer said that for September, while sales were $4,000 less than August at $69,000, the cost of goods was less at 44 percent of the top-line. “I spent about $40,000 less on the cost of goods. It was only possible because people stopped stealing. We put cameras in and held everyone accountable. I presented the managers with those

alternative options,” he added. And the Industrial Tribunal also dismissed Mr Jones’ claim for unfair dismissal.

Mr Jones was suspended by Tropical Gyros for poor food quality and “gross insubordination” on January 24, 2025. This related to “altering the standardised recipes of Tropical Gyros as created by Chef Kevin Culmer. This practice contravenes the employee manual for food preparation and has led to a significant amount of customer complaints about our food, and also a significant decline in food sales,” wrote Theron Smith, Tropical Gyos’ vice-president for northern affairs and general manager.

“It is imperative that all kitchen staff follow all the standardised procedures with regard to Tropical Gyros food preparation to ensure the consistency and high quality of food made. In addition to the above, today while in the kitchen, you demonstrated gross insubordination by dousing the meat on the grill with a bucket of water right after you heard me explain to Marie the correct way to put out grill flames, and why this dousing of the entire grill practice needs to stop.

“You clearly had no regard for what the general manager said, and again decided to do your own thing your own way. Please note this behaviour is very disappointing as a leader and kitchen manager, and is not in line with our company code of conduct and will not be tolerated at any time.”

Mr Jones asserted that he never admitted to altering Tropical Gyros’ recipes, but then received a termination letter on February 3, 2025.

“This decision has been made due to continued unsatisfactory performance in the quality of food preparation and failure to adhere to the recipes and guidelines provided by management,” the restaurant chain wrote.

“Despite previous discussions and feedback regarding the necessity of maintaining high culinary standards and consistency in menu execution, there have been ongoing concerns regarding deviations from established recipes and a decline in the overall quality of the dishes served. As maintaining excellence in our food quality is paramount to our business and customer satisfaction, we can no longer overlook these issues.”

ALL THAT piece parcel or lot of land running alongside private property at its SOUTHERN end Seventy-Seven and Seventy-two hundredths feet (77.72 ft) and running at its EASTERN end alongside Ceira Close Eighty-Six and Two hundredths feet (86.02 ft) and running at its NORTHERN end alongside Plantville Close Forty-Four and Eighty-Three hundredths feet (44.83 ft) and running at its WESTERN end some One Hundred and Eighteen and Ninety-Seven hundredths feet (118.97 ft) alongside private property AND situate in the Subdivision called and known as “Briceville Subdivision” in the Island of New Providence one of the Islands of the Commonwealth of The Bahamas

The Petitioner claims to be the owner of the fee simple estate in possession of the said piece or parcel of land free from encumbrances. AND the Petitioner had made application to the Supreme Court of the Commonwealth of The Bahamas under Section 3 of the Quieting Titles Act, 1959 to have her title to the said piece parcel or tract of land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act.

The Petitioner claims to be the owner of the fee simple estate in possession of the said piece or parcel of land free from encumbrances. AND the Petitioner had made application to the Supreme Court of the Commonwealth of The Bahamas under Section 3 of the Quieting Titles Act, 1959 to have her title to the said piece parcel or tract of land investigated and the nature and extent thereof determined and declared in a Certificate of Title to be granted by the Court in accordance with the provisions of the said Act.

Copies of the filed plan may be inspected during regular business hours at:

Copies of the filed plan may be inspected during regular business hours at:

1. The Registry of the Supreme Court, British American Building Marlborough Street, Nassau; and

1. The Registry of the Supreme Court, British American Building Marlborough Street, Nassau; and 2. The Chambers of Serfent Rolle & Co., Roslyn House, 7 Yonder Road, Nassau, Bahamas, Attorneys for the Petitioner.

2. The Chambers of Serfent Rolle & Co., Roslyn House, 7 Yonder Road, Nassau, Bahamas, Attorneys for the Petitioner.

FURTHER NOTICE is hereby given that any person having dower or right of dower or an Adverse Claim or a claim not recognized in the Petition shall on or before the thirtieth (30th) day after the last day of publication file a Notice in the Supreme Court within the City of Nassau and serve on the Petitioner or the undersigned a Statement of their claim in the prescribed form verified by an Affidavit to be titled therewith. Failure on any such person to file and serve an Adverse Claim on or before the thirtieth (30th) day after the last publication will operate as a bar to such claim.

Dated this 19th day of August A.D., 2025

SERFENT ROLLE & CO.

Attorneys for the Petitioner Chambers Roslyn House 7 Yonder Road Nassau, NP, The Bahamas

West End project buyer blasts ‘stalling’ tactics

sale, but only on the basis that the Attorney General’s Office had agreed to give an undertaking that the Coakley International deal would halt and not proceed to closing. This was affirmed by the March 12 Order, which described the Judicial Review as “dismissed”, but also gave permission for this to be appealed to the Court of Appeal.

LRA-OBB, which stands for Lubert Adler-Old Bahama Bay, and Resorts Holdings are challenging the Department of Inland Revenue’s 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.

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. It has already paid a $2.6m deposit but both Mr McDonald and Shane Coakley, Coakley International’s Bahamian principal, yesterday downplayed the negative impacts associated with the real property tax challenge, even though any Commission decision could be appealed through the judicial and court system.

“I don’t think it’s going to be a huge delay,” Mr McDonald told this newspaper on the impact of the

Supreme Court’s Order. “I believe that it’s the 26th or some time this month that the [Tax Appeals Commission] hearing is coming up. The worst case is that there is going to be a couple of weeks or days’ delay. We’re moving forward as normal.

“We’re waiting for the BIA (Bahamas Investment Authority) approval. As soon as we get that, which should be any day now, we’ll be closing. By the time all our paperwork is done, and all our approvals are done, that case will be long gone, the Tax Appeal Commission case. The timing is going to work out perfectly. No, we don’t have any concerns.

“If it goes to the Court of Appeal that will be a whole different thing. I honestly don’t think they have a leg to stand on. The Government seems to have dotted the ‘i’s’ and crossed the ‘t’s’. They [LRA-OBB and Resorts Holdings] are claiming that they want it, they want it, but have not even make a $1m, $1,000 or $200,000 attempt to pay the Government,” Mr McDonald added.

“They never tried to pay it. They’ve known what they owe. What we’re hoping is that this is a small speed bump and that’s it. We’ll see what happens.” Mr Coakley, who confirmed that he has met with officials over the LRA-OBB and Resorts Holdings tax challenge and the Supreme Court Order, said he had been informed that the Government was allowing the appeal process to proceed as it was confident it will be successful, thus allowing the Bristol Pointe deal to proceed.

“They feel that in the next couple of weeks they’ll be denied,” Mr Coakley

told Tribune Business of the Government’s stance.

“They want to make sure that they go through every process, but they feel they’ve given this group more than enough time to pay the tax; they gave them all the time to pay. They want to go through the process so that these guys don’t come back again.

“They [LRA-OBB and Resorts Holdings] say it’s not worth $36m, but we did an appraisal and the property came up to $800m. They’re saying it’s not worth $36m, but the marina was appraised for us at $140m when completed.”

These valuations, though, may reflect differences between the current ‘as is’ worth of the former Ginn project and what its value may reach if ever developed as envisaged by Mr Coakley.

“We have money lined up and are just planning to close,” he added, “and get out of this stalling and tactics by these guys. There’s no legs to it. We want to do this thing properly so none of these guys comes back and halts this project again. I just hope that happens for the island. They laughed at me in the beginning, but I don’t think they are laughing any more.”

LRA-OBB and Resorts Holdings, in legal filings with the Supreme Court, accused the Department of Inland Revenue of a lack “of candour and good faith” by accepting the bid from Coakley International and Bristol Pointe on September 25, 2025 - some six weeks after they filed their Tax Appeals Commissionbut failing to inform them or the Commission until

Developer: Equipment ‘stored’, no construction taking place

COURT - from page B1

investigations and studies to which the Developers have referred to in previous affidavits. This equipment will also be necessary for the construction of a nursery, in the future, for the preservation of protected plants, as required by our Certificates of Environmental Clearance (CEC).

“For the avoidance of any doubt, the equipment and materials delivered at Sampson Cay today are simply being stored on site at this time and no activity is being conducted, pending the determination of the outstanding application for injunctive relief,” Mr MacLean added.

“To assist in the storing of the equipment, the developer has used a transition barge. This barge is a floating platform designed to serve as a reliable solution for transporting equipment to and from Sampson Cay.

“While the equipment was being stored today, an environmental monitor was present to record the activities performed by the developers and any potential impact that the offloading activity may have had on the environment. A copy of that environmental monitor’s report will be produced after the activity has been completed,” he continued.

“The developer is confident that the report by the environmental monitor will confirm that there has been no negative impact on the environment during the offloading process described above.” Mr MacLean said he swore the affidavit “in good faith” as a means to reassure the Supreme Court “that his activity does not constitute development within the meaning of the Planning and Subdivision Act, and that the activity will not cause any negative impact, much less irreversible and/

NOTICE

NOTICE is hereby given that I, SHANIQUE YANIQUE MILLER of Sandilands Village, 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 18th 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 I SENEQUE MEME of General Delivery, Rainbow Bay, Eleuthera, 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 18th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

challenged on the issue in January 2026.

Michael Scott KC, of Scott & Company, the attorney for LRA-OBB and Resorts Holdings, told the Tax Appeals Commission on January 9, 2026: “This represents the second occasion on which a property that is the subject of the pending appeal has been advertised for sale despite our prior objections having been clearly articulated. The repetition of this conduct is troubling and plainly prejudicial to our clients’ interests.

“For the avoidance of doubt, this property is plainly within the ambit of the pending appeal before the Tax Appeal Commission. Any steps taken to advertise, receive bids for or otherwise dispose of the said property while the appeal remains extant are wholly improper and prejudicial to our clients’ interests.”

Mr Scott and his law firm also sought to address the issue with Amanda Adimoolah, the Department of Inland Revenue’s legal consultant, in a series of letters and e-mails between January 15, 2026, and February 11, 2026. He wrote that seeking to sell the 1,143acre parcel would force his clients to follow the recommendation from the Tax Appeal Commission’s chair and seek “urgent injunctive relief” from the Supreme Court.

And, on January 26, 2026, Mr Scott warned that any effort to sell the property, given that it was the subject of a Tax Appeal Commission hearing, “is wholly anathema and fundamentally inconsistent with the integrity of the

appellate process and the rule of law. It is not conduct that any responsible government authority should allow or countenance where a taxpayer is legitimately exercising a lawful right available to him, her or it under the statue in question”.

Shunda Strachan-Missick, the Department of Inland Revenue’s controller and the chief valuation officer, finally in a February 17, 2026, letter set out the rationale for accepting Coakley International’s $26m bid despite the ongoing legal challenge before the Tax Appeal Commission. 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.”

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.

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.

or catastrophic damage, to the environment”.

Mr Clark and Turtlegrass, though, are far from convinced and even unleashed drones to monitor what was happening after being made aware that Yntegra’s barge had arrived off Sampson Cay in the Exumas. “Today, Monday, March 16,I received a series of videos and photographs from David Hocher, owner and operator of Staniel Cay Yacht Club, via WhatsApp indicating that there was activity occurring on East Sampson Cay,” Mr Clark alleged in a March 17, 2026, affidavit.

“I requested that members of the Turtlegrass team launch drones to monitor activity. The team members observed and sent to me recordings of a large barge being towed by the US-flagged tug that landed on the southernmost portion of East Sampson Cay.”

Mr Clark admitted he did not personally observe this,

but added that the barge was being towed by the US-flagged tug boat, Megan Beyel. “In one video, the barge remains stationary for an extended period and, based on the visible waterline and the timing of the footage, it appears to be waiting for the tide to rise before approaching closer to the shoreline,” he added.

“The barge was eventually grounded on the shoreline on the southernmost part of East Sampson Cay, the same location as prior offloading activity, and was unloaded using heavy equipment throughout the afternoon. I did not personally observe this: I am only describing what I saw in the videos. The materials offloaded from the barge appear to include construction materials and equipment.

“These include what appear to be two septic tanks, a water tanker and multiple sacks of concrete/ aggregate materials.” Mr Clark asserted that this was “activity consistent with ongoing works”, but this was vehemently denied by Yntegra. The Turtlegrass financial chief said the resort was providing

NOTICE

NOTICE is hereby given that I, WILLIAM MANOS of Bahama Sound #18, Exuma, 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 18th 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 I, ROMANA DONNGGA-AS NEILLY of Spanish Wells, Btw 14 & 15 St., 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 18th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

evidence during the period when the Supreme Court’s decision on imposing an injunction on the Rosewood Exuma project’s construction remains pending. The Rosewood Exuma development spans 131.2 acres and is set to include 33 hotel units, 40 residential cottages, and over 100 buildings, accommodating up to 460 guests with 150 employee housing units.

A revised Heads of Agreement for the project was signed with the Government on May 21, 2024,

and its certificate of environmental clearance (CEC) was granted on June 23, 2025. Geotechnical works were said to have been “extended until June 30, 2026”, with temporary housing and maintenance works approved to start on June 5 last year. Civil works design approvals for paving, grading and maintenance have also been obtained. Despite these approvals, the service dock’s location remains a central concern.

NOTICE

NOTICE is hereby given that I, ALBERTO BAYARD of Wulff Road, 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 18th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE is hereby given that I LORENCEAU LOUIS of Wilson Track, P.O Box #4370, 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 18th 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, PATRIQUE ALCIDE of Freeport, Grand Bahama, 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 18th day of March, 2026 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Biminites ‘hurting’ with ‘no relief’ yet in sight

BOATS - from page B1

lot of meals that we’re off. Bar sales work something like, for every dollar you do in food… let’s say you went to the Green Parrot and you spent $30, you probably would buy one $15 drink or two beers. So the bar is half off that number. It’s just a multiplicity of down, down, down largely as a function of what’s going on with the boating fees and fishing fees, and what they’ve done, which I know the Government is failing to recognize.

“There’s no way that they’re 100 percent collecting everything they collected last year or more on a lot less boats. It just can’t work. The streets are empty. The golf carts are parked. The Bahamian cash registers on the island are not ringing like they should. A lot of people are out of work, especially [because] Bimini [is] very, very small,

like micro market, if you will. Ten families make up Bimini, but hey, we’re optimistic.”

Referencing recent comments made by Senator Randy Rolle, who spoke in the Senate on Monday about the economic challenges that increased cruising permit fees have brought to Bimini, Mr Kappeler suggested the Government disclose how much revenue has been collected from this levy over the past six months.

“If they were to disclose the boating fees, collected against the same six months from the year before, and if they would disclose the number of persons that came in by boat, your answer is going to be right there,” he said.

“And if Randy is the one saying, ‘Hey, you need to look at this matter. It’s serious’ he is in the right. The ones that are saying, ‘Nothing is impacted. We’re at

100 percent of our tax collection as far as where we were last year’, that can’t be possible with these marinas missing these boaters, who are missing the room nights, who are missing the meals... It impacts every Bahamian at every entry level job. It’s a shame for Bimini, what’s happening.

“We’re still going to do our Spring Break kids. There’s the Spring Break kids at Resorts World. They’re not here, but they’re up the road. You’re still going to get that kind of stuff, but Bimini Bay’s marina is empty. There’s been many pictures shown on these boating websites. Bimini Bay’s Marina doesn’t have anybody in it,”

Mr Kappeler added.

“And I’m not saying that’s today or this weekend. Maybe they had six boats, I don’t know, but I bet I don’t have six boats right now. And then we got fuel pricing that is going

of co-operation and shared purpose.

to add, which is nobody’s fault. But that’s not going to encourage more persons to travel, bear more expense to come over to The Bahamas, on top of all the fees.”

While business has seen better days, Mr Kappeler said he has retained all staff but added that Bimini Big Game, along with the wider island community that rely on incoming boaters, are feeling the pressure now that fewer are visiting the island.

“So it’s very hard. And I’m just sad for my people, because I work hard every year to try to increase sales, increase VAT, increase Business Licence fees, and my people do better… I’m not able to do that, not with what they put on the marina resort hotels. It’s difficult and my people are hurting. They want hours, and there’s not enough guests or covers that makes sense to the hours. But we’ve retained everybody.

made for the Bahamian people.

We’ve not let anybody go. We’ve retained everybody,” Mr Kappeler said. “…But when I look at May, because that’s the start of the boating season, it’s very, very scary. Rooms sold in the zeros and ones and fives, unless it’s a group that came every year anyways… It’s very scary to see those kind of numbers.

Easter, we’re not sold out for Easter. How can we not be sold out for Easter?

“It might pick up. I’m hopeful. But it’s difficult, and I have to say, set aside the American investor about a boat or a marina, I plead for the Bahamian people that work here, the Biminites that are here. They get impacted from all the little jobs that they get from the traffic, and now they don’t get those jobs from the traffic and they’re hurting.”

Mr Kappeler said fewer boaters will likely be attending the upcoming

ahead of its April 1, 2026, implementation.”

Palm Beach Boat Show.

“We’ve been at the Stuart boat show,” he said. “We’re going to the Fort Lauderdale boat show. Now is the West Palm Beach boat show at the end of this month. I think there’s fewer attendees going to the show because it costs to go do that.

“And it’s sad that I’m hearing that there might be a fewer number of marinas. Our Marina Association has tried to boost together to say, get our act together, and let’s be there anyways and be able to talk about The Bahamas. But it’s not a good story, all the way down to the bottom line. And, you know, NIB went up a little bit here or there, right? And electricity has gone up a little bit. And it’s just that there’s; there’s no relief.”

more complex to administer, increasing costs and time involved with this, and raising concerns they may miss filing deadlines and provide inaccurate return submissions. This was because they now have to correctly categorise products into those that are VAT ‘exempt’, ‘zero rated’, or taxed at 5 percent or 10 percent.

Mr Davis gave no indication of how this was all resolved in his statement last night, and major

food retailers could not be reached for comment before press time. “Today I met with representatives from the grocery retail industry because my number one goal remains clear: Bringing down the cost of living for Bahamian families,” he said. “Families across our country are working hard every day, and they deserve a government that stays focused on easing pressure at the checkout line and around the kitchen table. That is why we came together today in a spirit

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT (No. 45 of 2000)

In Voluntary Liquidation

Notice is hereby given that, in accordance with Section 138 (4) of the International Business Companies Act, (No.45 of 2000), RED KESTREL HOLDINGS LIMITED (the “Company”) is in dissolution. The date of commencement of the dissolution is 16 March 2026. Andy Wood and Alex Adam of Teneo Financial Advisory Limited, Forum 3, Grenville Street, St Helier, Jersey, JE2 4 UF and Bucktrout House, Glategny Esplanade, St Peter Port, Guernsey, GY1 WR respectively, are the Joint Liquidators and can be contacted at by post at Teneo Financial Advisory Limited, Bucktrout House, Glategny Esplanade, Guernsey GY1 1WR or by email to erica.kiaie@teneo.com. All persons having claims against the above-named Company are required to send their names, addresses and particulars of their debts or claims to the Joint Liquidators before 15 April 2026.

Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the abovenamed Company is in dissolution, which commenced on the 13th day of March, 2026. The Liquidator is Windermere Corporate Management Limited, 200 Sterling Commons East, Harbour Drive, Paradise Island, Bahamas.

WINDERMERE CORPORATE

MANAGEMENT LIMITED

Liquidator

“I am pleased we could find a solution so that Bahamians will benefit from the change of VAT on unprepared food in grocery stores beginning April 1. This is about helping families keep more of their money in their pockets. It is about making every day essentials more affordable. And it is about showing that when government and industry come together with goodwill and seriousness, we can deliver real results for the people we serve.”

The Prime Minister continued: “I believe that even when challenges are tough, progress is possible when we sit down together, speak honestly and stay focused on the people who sent us here to work on their behalf.

“That is the approach I have always tried to bring to leadership. I believe we can work together to solve our country’s toughest challenges. I believe in partnership. I believe in practical action. And I believe in building on the progress we have already

“Today’s meeting was another example of that approach in action. We listened to each other. We worked through the issues. And we agreed on a way forward that keeps the focus where it belongs; on delivering relief for Bahamian families,” Mr Davis added.

“April 1 will mark an important step. The full removal of VAT on unprepared food in grocery stores will help many families across The Bahamas as they manage the rising cost of living. My government will keep working every day to find ways to ease the burden on working people, support households, and move this country forward.”

Debra Symonette, Super Value’s president, last week confirmed that Super Value had calculated “the impact could be up to $300,000$400,000 per month” from the VAT ‘exempt’ switch through lost or reduced profits, which translates into between $3.6m to $4.8m per year.

BISX-listed AML Foods, too, in its recent 2026 third quarter results filing, said: “Recently our industry was informed of a change in the treatment of VAT inputs, which is expected to increase our non-payroll expenses and impact our cost of goods by several percentage points. We are reviewing how we will address these changes

LEGAL NOTICE

ALYTH LIMITED (In Voluntary Liquidation)

NOTICE is hereby given in pursuance of Section 218(e) of the Companies (Winding Up Amendment) Act, 2011, that the Members of the above-named Company by Resolution passed on the 5th day of March 2026 resolved that the Company be wound up voluntarily forthwith and that the Liquidator be Mr. Bennet R. Atkinson of Ronald Atkinson & Co., Chartered Accountants, Marron House, Virginia and Augusta Streets, P.O. Box N-8326, Nassau, Bahamas.

Dated the 16th day of March 2026.

Bennet R. Atkinson Liquidator

Another major grocery merchant, speaking on condition of anonymity, echoed Ms Symonette’s fears and estimated that the VAT ‘exempt’ treatment could increase non-staff costs by 7-8 percent from April 1, 2026. They added that the impact will not be confined just to food stores, but all businesses that sell uncooked food, including gas stations and pharmacies. And wholesalers will also be impacted as they will have to adopt the VAT ‘exempt’ treatment on the uncooked food supplied to retailers. Tribune Business was told that, if wholesalers elect to pass on the extra costs incurred from being unable to reclaim VAT on input expenses related to uncooked food, the cost of goods will likely rise by a further 2-3 percent.

A retailer, speaking on condition of anonymity, added that the VAT ‘exempt’ treatment will further increase the cost and complexity for food stores when it comes to administering the tax and remitting the correct returns and sums to the Ministry of Finance. And financial observers warned that, as opposed to “eating” the increased VAT-related costs, food stores will simply “mark-up” and increase prices on items that are not price controlled to maintain their margins.

The Government has not publicly stated the justification for the VAT ‘exempt’ treatment, although Michael Halkitis, minister of economic affairs, has hinted it feels ‘zero rating’ treatment would give up too much revenue and result in the Public Treasury having

to pay out large refunds and credits to the food distribution industry.

Dionisio D’Aguilar, the former AML Foods chairman, argued that the Davis administration will create an administrative and compliance “nightmare” for the industry if it proceeded with the current plans and structure for its latest bid to ease cost of living pressures for Bahamian households.

Mr D’Aguilar, also an ex-minister of tourism and aviation, told this newspaper that merchants would have to determine which products are VAT ‘zero rated’, ‘exempt’, or attract a 5 percent or 10 percent levy.

He explained that they will have to undergo this process for all of the hundreds, if not thousands, of products they carry on their shelves, thereby increasing both the time and money that has to be devoted to tax administration and compliance.

“I spoke to someone else in the food business, and they were of the view that this is really going to add an enormous amount of complexities and stress in the business of running food stores because you are now going to have items that are VAT exempt,” Mr D’Aguilar added.

“You are also going to have items that are ‘zero rated’, you are going to have items that are taxed at 5 percent VAT, and you are going to have items that are taxed at 10 percent. When you get your supplies in, that can be pages and pages of items, and thousands and thousands of SKUs (stock keeping units). This is a nightmare because you have to go through all of your invoices to determine what is what.”

US drivers see gas prices jump to their highest level since 2023 as the Iran war drags on

By WYATTE GRANTHAM-PHILIPS AP Business Writer

THE IRAN war has rattled the global flow of oil, with steeper fuel costs already straining households worldwide. And in the U.S., drivers are now facing the highest prices they’ve seen at the pump in nearly two and a half years.

According to motor club AAA, the national average for a gallon of regular gasoline jumped to $3.79 on Tuesday, up from $2.98 consumers were paying before the U.S. and Israel launched the war with joint attacks against Iran on Feb. 28. The last time gas prices were as expensive as they are now was in October 2023.

“It’s pretty hard. I mean, times are tough for everybody right now,” Amanda Acosta, a Louisiana resident, told The Associated Press while filling up her car’s tank this week. “I’m getting way less gas and paying way more money.”

She isn’t alone. Pain at the pump has been one of the most immediate economic impacts of the conflict, because the price of crude oil — the main ingredient in gasoline — has soared and swung rapidly in recent weeks, due to supply chain disruptions and cuts from major producers across the Middle East. Brent crude, the international standard, settled at over $103 a barrel on Tuesday, up from roughly $70 just weeks ago. And benchmark U.S. crude topped $96 a barrel.

Many eyes are on the White House. Before the war, President Donald Trump once bragged about keeping gas prices low. But he’s since pivoted to try and paint high oil prices as a positive outcome for the U.S. Last week, Trump said that because the U.S. is now largest crude producer in the world, “when oil prices go up, we make a lot of money.”

Companies that supply oil benefit from higher prices. But steeper costs always pinch consumers’ wallets — and today’s rising prices arrive as many households continue to face wider cost of living strains. It could also push up already stubborn inflation, at least in the short run, and potentially

hammer the economy more significantly if steep costs drag on. Experts say that that could apply more pressure on the Trump administration, particularly as affordability continues to stay at the top of voters’ minds.

Drivers see impact of higher fuel prices

“I just want all of it to end. I just want to get out of there, out of Iran,” said Meghan Adamoli, a New Jersey resident who was among customers filling up at a Multani station on Tuesday. While Adamoli said she can personally “roll with the punches” when it comes to gas prices, she knows that a lot of others can’t.

Dan Bradley, a flatbed truck driver from Pennsylvania, said he’s felt the rising prices for both his work and personal vehicles. Beyond regular gasoline, the U.S. average for diesel topped $5 a gallon on Tuesday, per AAA, up from about $3.76 before the conflict started.

“It sucks when you’re filling up,” said Bradley. “What are you going to do, not get gas?”

Meanwhile, Texas resident Clay Plant said that rising oil costs is good for the economy of his town, Lubbock. He noted that he sees more people work as drilling picks up.

“It’s kind of a good sign for us in west Texas,” Plant said. “I look at it as my

N O T I C E

MICHEL HOLDINGS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4) of the International Business Companies Act 2000, the abovenamed Company is in dissolution, which commenced on the 13th day of March, 2026. The Liquidator is Windermere Corporate Management Limited, 200 Sterling Commons East, Harbour Drive, Paradise Island, Bahamas.

WINDERMERE CORPORATE MANAGEMENT LIMITED Liquidator

friends and family get to eat and they get to go to work.”

Search for more supply and uncertainty ahead

The U.S. is now a net exporter of oil — and other parts of the world that rely more heavily of fuel imports from the Middle East, notably Asia, have seen more stark energy shocks amid the war. But that doesn’t mean America is immune to price spikes.

Oil is a globally-traded commodity. And most of what the U.S. produces is light, sweet crude — but refineries on the East and West coasts are primarily designed to process heavier, sour product. As a result, the country also needs imports. The road ahead is uncertain, and prices could worsen if the war drags on. Iran has effectively halted nearly all tanker movement in the key Strait of Hormuz, where roughly one-fifth of the world’s oil once sailed through on a typical day. That’s led to cuts from some

major producers in the region, because their crude has nowhere to go. Trump has demanded that other countries send warships to reopen the waterway, but has yet to garner sign-ons as many ask for more clarity about America’s next steps for the war. Meanwhile, Iran, Israel and the U.S. have all struck oil and gas facilities.

All of this has left countries scrambling for other supply. Last week, the International Energy Agency pledged to release 400 million barrels of oil available from its member nations’ stockpiles. Trump, who previously downplayed the need to tap into reserve oil, later confirmed that the U.S. would pull 172 million barrels from the Strategic Petroleum Reserve as part of the IEA’s effort. The administration also announced it will temporarily free up Russian oil from U.S. sanctions for its war on Ukraine.

Argentina’s wine industry withers on the vine as consumption hits a record low

By CLARA PREVE Associated Press

ARGENTINA'S once thriving wine industry is facing its worst crisis in more than 15 years, with record-low domestic consumption, dwindling exports and low-yielding crops.

Against this sobering reality, hundreds of wine enthusiasts still gathered last week in Mendoza, the heart of Argentina's wine region, to celebrate the annual National Wine Harvest Festival. Attendees watched dance performances, enjoyed live music and voted for the new queen of the Vendimia festival.

The festival was marking its 90th year as domestic wine consumption in Argentina plummeted to an all-time low of 15.7 liters (4.1 gallons) per person in 2025, according to the National Institute of Viticulture, or INV. Compare that to 1970, when Argentines consumed as much as 90 liters (24 gallons) per person annually. Furthermore, 1,100 vineyards have shut down across the country and 3,276 hectares (8095 acres) of grape production have vanished.

Fabián Ruggieri, president of the Argentine Wine Corp trade group, attributes the drop largely to a "sharp decline in purchasing power" that began in 2023. This trend, he said, is most acute among middleand low-income consumers who traditionally consumed wine on a daily basis.

For Federico Gambetta, director of the Altos Las Hormigas winery, a medium-sized winery in Mendoza, the crisis is exacerbated by a shift in consumption patterns. "People no longer consume wine en masse," said Gambetta, noting that consumers now seek

"coherence" and a sense of purpose behind their purchase.

While older generations favored high-alcohol, full-bodied wines, younger consumers prioritize other attributes, such as "approachability, freshness and lightness" — qualities typically found in white wines and rosés.

One of Gambetta's red wines — Malbec Los Amantes 2022 — was recently ranked 41st among the world's 100 best wines. Yet, he notes that starting in 2010 his winery began to modify its wine — once defined by a traditional, heavier profile — to appeal to a new generation of consumers seeking lighter styles.

"Everything has mutated," Gambetta said. "If you're not dynamic, you're lost."

The U.S. is experiencing a similar shift as the older wine-focused demographic ages out and younger adults fail to fill the gap. A report by Silicon Valley Bank found that millennial and Gen Z drinkers are spread across more categories and drinking less overall, particularly those under 29.

The international market offers little relief. As the world's 11th largest wine exporter, Argentina saw its exports fall to 193 million liters (51 million gallons) in 2025 — a 6.8% year-onyear decline and the lowest volume since 2004, according to INV. Ruggieri notes that exports are being hampered by financing issues, high logistics costs and a lack of competitiveness resulting from external tariffs. While its neighbor and wine competitor Chile enjoys free trade agreements with over 60 economies — often reaching markets like China with tariff rates close to zero — Argentina faces tariffs between 10% and 20% in most markets.

ALECAM LTD.

(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138 (4) of the International Business Companies Act, 2000, ALECAM LTD. is in Dissolution. The date of commencement of dissolution is the 16th day of March, 2026.

Aegis Corporate Services Limited

Building Six, Caves Village West Bay Street, P.O. Box SP-63771 Nassau, Bahamas Liquidator