NASSAU, BAHAMAS- The U.S. Bankruptcy Court has approved a comprehensive settlement between CCA Construction, Inc. (“CCA”), CCA Bahamas Ltd. (“CCAB”), CSCEC Bahamas, Ltd. (“CSCECB”), and BML Properties Ltd. (“BMLP”), resolving all outstanding legal disputes related to the construction of the Baha Mar resort.
“This Court approval marks an important milestone,” said Yan Wei, Chairman & CEO of CCA. “It allows us to concentrate fully on our strategy for delivering world-class construction projects and hospitality experiences to customers around the globe. We are grateful for the continued support of our team, partners, and clients as we embrace future opportunities.”
Under the terms of the agreement, BMLP has dropped all claims against CCA, CCAB, CSCECB, and their affiliates in both the U.S. and The Bahamas, without any admission of liability. CCAB retains its ownership stakes in the British Colonial and Margaritaville Beach Resort hotels, assets it says will continue to generate long-term economic benefits for the Bahamian community.
