American Bankruptcy Institute (ABI) 2016 Cross Border Insolvency Program
Sophia Rolle-Kaposouzoglou presented on:
“Caribbean – Resort Insolvencies” The economic downturn has a significant impact on resort properties in the Caribbean. The Baha Mar Resort was supposed to add 12% to the GDP of the Bahamas, but it has turned into the world’s biggest white elephant and the investors have gone to war and the Nikki Beach Resort & Spa in the Turks and Caicos Islands, one the 21 Hottest Caribbean Escapes, has been placed into receivership. This panel explored the unique challenges faced by the creditors and other stakeholder involved in resort insolvencies in the Caribbean Region.