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$142M TO RECOVER FROM TOXIC LOANS Just five delinquent loans owe collective total of $100m By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net
THE Bank of The Bahamas bail-out vehicle must now employ “lots of muscle” to recover its remaining “toxic” loan collateral valued at $142m, its chairman revealed yesterday. James Gomez, Bahamas Resolve’s chairman, said it has largely recovered the “low hanging fruit” among delinquent Bank of The Bahamas commercial loans that it received via two transfers in 2014 and 2018. Disclosing that some
$40m has been recovered to date, on assets appraised at a collective $63m, he said Bahamas Resolve is now focusing on the “more toxic” credit in its portfolio. Mr Gomez said five loans worth a collective $100m will be key to remaining recoveries. While he declined to identify the borrowers, one is almost certainly the Summerwinds Plaza on Tonique Williams Highway that was pledged as collateral by former PLP cabinet minister, Leslie Miller, and upon which more than $30m is alleged to be owed. FULL STORY - SEE BUSINESS
DONATIONS SUFFERING A SLUMP, SAY CHARITIES By JADE RUSSELL jrussell@tribunemedia.net
WITH Christmas days away, several non-profit organisations are appealing for assistance as some say donations are in a slump. Alicia Pinder, director general of the Red Cross Bahamas Society, told The Tribune yesterday donations were coming in rather slowly for the holiday season.
“Well, donations have been slow. We have one or two corporations that have made contributions. “But the donations that we generally would get from some food suppliers or even individuals coming in to make contributions compared to pre-pandemic, those contributions are considerably low.” SEE PAGE THREE
100,000 MEALS A MONTH TO FEED THOSE IN NEED By EARYEL BOWLEG Tribune Staff Reporter ebowleg@tribunemedia.net BAHAMAS Feeding Network is providing up to 100,000 meals a month, supporting more than 100 local feeding programmes. The organisation got a welcome donation yesterday of 20,000 pounds of ham and chicken from Royal Caribbean International. The donation will help feed people who otherwise would not have a proper meal this holiday season. Felix Stubbs, BFN chairman, said Royal Caribbean
has been a supporter of the network for many years. He added: “As they’ve done in the past, again this year, they’re making a significant contribution here at Christmas time to assist in the feeding of many Bahamians who ordinarily would not have had a proper meal this time of the year. “Some of you may be aware, we’ve been in existence now for 13 years, we’ve been feeding individuals for more, so supporting a network of feeding programmes so that as many deserving Bahamians are fed a proper meal.” SEE PAGE THREE
RUSSELL BENFORD, vice president of government relations at Royal Caribbean, and Lisa Rahming, Minister of State for Social Services, as Royal Caribbean donated 20,000lbs of meat. Photo: Austin Fernander
POLICE OFFICER IN A COMA AFTER ‘JUMPING FROM CAR’ FAMILY and close friends of a police officer who allegedly jumped from a moving vehicle this week have launched a GoFundMe page to assist with his medical expenses. On Sunday, police officer Thomas Mario Hairston, 33, was admitted to hospital with significant head injuries
after the reported incident. He is now in a coma. In a statement released Monday, police said initial reports indicate that Hairston and a female companion were occupants of a grey Toyota that was travelling in the Joe Farrington Road area. SEE PAGE FIVE
‘HISTORIC’ YEAR FOR TOURISM AHEAD By LETRE SWEETING lsweeting@tribunemedia.net
BAHAMAS Hotel and Tourism Association president Robert “Sandy” Sands said The Bahamas is set to see a “historic” level of visitor arrivals next year while bookings for most hotels in New Providence this holiday season and throughout the new year remain strong. “We’re looking forward to perhaps an historical year in terms of visitor arrivals
ROBERT “Sandy” Sands yesterday. Photo: Austin Fernander to The Bahamas in 2023,” Mr Sands said yesterday at the sidelines of a press conference at Baha Mar.
He added: “The bookings for the festive season are very strong and we are very encouraged by the bookings over this period. I can also report that many hotels in New Providence are also looking at very strong bookings for this period as well. Most hotels are in excess of 92-93 percent over this period. It doesn’t stop there, bookings for the first quarter also in New Providence, are very strong. SEE PAGE FOUR
Nassau & Bahama Islands’ Leading Newspaper
ALICIA WALLACE: HANDLING THE HOLIDAYS
- SEE PAGE EIGHT