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WEDNESDAY, JULY 9, 2025
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Bahamian’s bookings surged 45% on ‘illegal’ foreign charter’s arrest t 4QBOJTI 8FMMT PQFSBUPS T LFZ SPMF JO TFJ[VSF A BAHAMIAN charter operator, who played a key role t #VU TBZT DPVSUT AUPP in apprehending a foreign rival MFOJFOU PO WFTTFM SFMFBTF accused of operating illegally in this nation, yesterday revealed his bookings surged 45 percent after t A.PSF SFTPVOEJOH NFTTBHF the arrest. Jeremy Wong, a 20-year indusOFFEFE UP EFUFS By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
try veteran who operates Spanish Wells-based Black in Blue Charters, told Tribune Business he believes the US owner of Highly Migratory, the sports fishing boat seized on January 27, 2025, in an undercover operation in involving Bahamian and US law
enforcement, was able to recover the vessel from detention “a bit too easily”. Speaking after Justice Andrew Forbes ordered that the boat be released upon payment of a
Treasure Cay buyer ‘holding off’ amid October target for permits By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE potential buyer of Abaco’s Treasure Cay resort says it is “holding off” from starting any development work as it targets obtaining all necessary permits and approvals by October 2025. Gaynelle James, the marketing director for Jacksonville-based GreenPointe Holdings, in a recent update to the 1,400-acre property’s homeowners asserted that no construction activity has been seen because the developer s determined to proceed “the right way” with “utmost respect for Bahamian laws, culture and environmental standards’. The note subtly admits that GreenPointe and its chief executive, Edward Burr, have yet to close the $25m acquisition of Treasure Cay from its existing owners, the Meister family, as it describes the Florida-based company as “the prospective buyer”.
This is despite Mr Burr and GreenPointe signing a $177m Heads of Agreement with the Government for the project in September 2024. While the purchase is “under contract”, its closing is subject to GreenPointe obtaining the necessary government permits and approvals to proceed with the project. And the latest October timeline for securing these permits means it will be more than a year since the Heads of Agreement was signed, with GreenPointe saying this is now entirely dependent on the Government and could be delayed further. “With many questions and, unfortunately, some misinformation - circulating about the future of Treasure Cay, we wanted to share an update directly from the source,” Ms James wrote. “GreenPointe Holdings, the prospective buyer of Treasure Cay, understands deeply what this
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Bimini fishing tournament sees no boating fee effect By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net A LARGE visitor turnout is still expected at the 75th Bimini Native Fishing Tournament scheduled for July’s end despite the ongoing outcry over new and increased fees for boaters. Ken Stubbs, president of the Bimini Native Fishing Tournament, said that after speaking with Bahamas Customs he feels confident that the event will draw many visitors despite the boating fee reforms. He added that he was told many tourists understand the increase based on information including how
persons have signed up to participate. Suggesting that visitor and Bahamian participation looks promising, Mr Stubbs said: “I was down at the Big Game dock all day, basically talking to the dock master and Customs. We as Bahamians, we don’t really listen. Most of us just jump to conclusions. You hear something and you run with it the wrong way. “People keep saying to me, ‘Oh the Government is doing fool.’ But when I went and I sit down, I talk to Customs, and I got a understanding of what was happening. Then I agree that what government is doing is good, because what was told to me is: ‘Hey,
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$100,000 bond and some $20,445 in storage fees due to Bradford Marine, he argued that The Bahamas needed to “send a more resounding message” to the foreign operators of alleged illegal
charters by holding the accused vessels “as long as possible” and then potentially auctioning them off. Mr Wong, suggesting that the Highly Migratory was worth $1mplus, higher than the $750,000 value assigned to it by its owner, self-described Florida businessman Mark Tsurkis, told this newspaper that while he understood the judge’s reasoning it still felt as if The Bahamas had gotten “an ounce of flesh, rather than a pound of flesh” for violations of its Fisheries Act. Arguing that the funds raised from selling-off guilty vessels could be reinvested in improved maritime law enforcement, he
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added that the exploitation of Bahamian waters by illegal foreign charters posed multiple dangers to visitor safety, marine resources and this nation’s reputation as a safe destination for tourists and fishing. Raising questions over whether such vessels have proper liability insurance, and comply with seaworthiness requirements imposed by local and foreign regulators, Mr Wong compared this to the numerous “hoops” he faces to satisfy the Port Department and said he just wants to compete on a “level playing field” where all abide by the law and regulations. And, besides the business lost by legitimate Bahamian charter operators to illegal foreign rivals, he added that the latter also contribute to considerable revenue leakage from the Public Treasury as they pay not a cent in taxes. While unable to place a dollar figure on these losses, Mr Wong said the sudden jump in bookings following Highly Migratory’s arrest provides a good insight.
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Eliminate ‘silos’ call as 75% of boaters to cut Bahamas visits By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas must better align tourism and tax policy “silos” to ensure it does not force stopover visitors “to save up for a lifetime” to enjoy this nation’s “lifetime of experiences”, a senior executive is arguing. Kerry Fountain, the Bahama Out Island Promotion Board’s executive director, told Tribune Business that the seeming disconnect between Ministry of Tourism promotions and the Ministry of Finance’s fiscal policies - highlighted most recently by the boating fees fallout - must be seized as an “opportunity” to ensure all arms of government and the private sector work together.
t #FUUFS UBY BOE hanging fruit” for govrevenue is the UPVSJTN QPMJDZ ernment fast-expanding cruise industry and the 9.4m pasBMJHONFOU sengers that came to this VSHFE nation last year. Mr Fountain, suggesting t 'FBST that The Bahamas’ tax polTUPQPWFST icies are giving the cruise IBWJOH UP ATBWF industry a “competitive advantage” over higherGPS B MJGFUJNF spending stopover tourism, this newspaper that t 5ISFF RVBSUFST told both government and priPG CPBUFST vate sector need to engage over how to “more fairly UP SFEVDF tax cruise passengers” for PS OPU DBMM the economy and Public Speaking as online polls suggest that almost 75 percent, or three-quarters, of potential boating visitors either plan to “significantly reduce their visits or avoid The Bahamas altogether, he again reiterated his belief that the “lowest
Treasury’s wider benefit. “The Ministry of Tourism, they’re doing in my opinion a very good job of promoting to consumers that The Bahamas is more than just Nassau and Paradise Island,” the Promotion Board chief said. “That The Bahamas offers a lifetime of islands.
KERRY FOUNTAIN “It seems, however, that the other government agencies - I don’t want to paint this negatively, I want to paint this as an opportunity - that there’s an opportunity for other government ministries before they implement these taxes to sit down with their public sector partners and private sector partners to determine that, if they do ‘Y’, how it will impact this business. “It seems like the silos are not connected. The Government silos are not connected,” Mr Fountain said. “It’s like on the one
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‘Bankrupt’ attorney banished in $6m mortgage loans mess By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A “BANKRUPT” attorney who failed to “perfect security” for a BISX-listed lender’s 50 mortgage loans, worth a combined $6m, yesterday saw his banishment from the legal profession upheld. Justice Milton Evans, the Court of Appeal president, in a unanimous verdict backed the Bahamas Bar Council’s disciplinary tribunal over its decision to disbar Raymond Rolle, a former FNM election candidate. The three appeal judges found Mr Rolle, who failed in both attempts to become Englerston’s MP in 2007 and 2017, was “negligent in the supervision of his firm” and the damages caused to clients resulted directly from that. And “the fact he has been declared bankrupt”
means Mr Rolle is unable to properly compensate his clients, including Finance Corporation of The Bahamas (FINCO), Royal Bank of Canada’s (RBC) publicly-listed mortgage lender, for the losses they have incurred. The Court of Appeal recalled that Mr Rolle’s disbarment stemmed from complaints submitted against him by RBC FINCO dated July 4, 2019, and January 14, 2020. The mortgage lender alleged that he had been hired to represent it in 31 separate mortgage transactions, with the sums involved paid over to him. Ultimately, the BISXlisted entity claimed he failed to safeguard its interests by not perfecting security collateral for 50 mortgage loans, and also “failed and/or refused to obtain the necessary consents and/or approvals” for 34 loan files. “The appellant [Mr Rolle] was engaged to
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