The deal follows a ruling in October last year by a New York State Supreme Court judge ordering the subsidiary of a major Chinese contractor to pay damages of $1.6bn for fraudulently delaying the opening of the resort, thereby causing the developer’s financial collapse.
CCA Construction (formerly known as China Construction America) along with co-defendants CSCEC Bahamas and CCA Bahamas appealed the decision.
The deal has been approved by the US Bankruptcy Court in New Jersey.
Sarkis Izmirlian, chair of BML Properties and the original developer of the Baha Mar resort, stated: “We are pleased to have put this matter behind us and reached a resolution that meets our expectations.”
CCA chairman and chief executive Yan Wei said: “We are pleased that the Court has approved this resolution, which enables us to focus exclusively on our strategy for delivering world-class construction projects and hospitality operations to our customers worldwide.”
Subscribe here to get stories about construction around the world in your inbox three times a weekFurther reading:
Why a judge ordered China Construction America to pay $1.6bnParties settle litigation over Baha Mar resort Global Construction Review.
Hence then, the article about parties settle litigation over baha mar resort was published today ( ) and is available on GCR ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Parties settle litigation over Baha Mar resort )
Also on site :
- Blessing Muzarabani ditches PSL team, joins KKR for IPL 2026
- Metal Logic Purchases Pilbara Site to Deploy Grade-Agnostic, Scalable Modular Clean Steel Smelter
- Games of the Future 2026 (Spiele der Zukunft 2026): Termine und Disziplinen für Astana bestätigt