On June 29, 2015, Baha Mar Ltd, the development company behind a $3.5 billion Bahamian resort and its affiliated debtors, filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in the U.S. District Court of Delaware.  Attached here is a copy of the petition.  Debtors offer the declaration of Thomas M. Dunlap in support of their first day pleadings.  A copy of the first day declaration is here.  

Debtors assert that extensive construction project delays, missed deadlines and other performance failures by China Construction America Inc., the resort project's general contractor and construction manager, have resulted in the delayed opening of the 3.3 million square foot complex located in Cable Beach, Nassau, The Bahamas.  The Debtors list assets of $3.1 billion and liabilities of $2.7 billion, which includes $2.4 billion in loans under a secured credit agreement with The Export-Import Bank of China.  The Debtors filed for bankruptcy protection in order to restructure their capital structure and create working relationships to complete the construction and ultimately, successfully open the resort.

The cases have been assigned to Bankruptcy Judge Kevin Carey for administration under the caption of In re Northshore Mainland Services, Inc., et al., case no. 15-11402 (KJC).