Tribune Business revealed back in October 2021 how the former Lucayan Renewal Holdings Board had “unanimously” recommended to the Davis administration that it exit the ITM/Royal Caribbean deal and “move on” with alternative options - something that Mr Scott effectively confirmed yesterday. I have considered, and always considered, the revised offer by Bahamas Ports Investments as an embarrassment and not in the best interests of the country.”

“I regret very much that the former government did not see the wisdom in our approach. Suggesting that the Government was unlikely to give himself, or the former Board’s other members, credit for their advice, he said of the new administration: “I think that on balance they appear to be taking the considered and well thought-out recommendations of myself and the Board, and all we can do is commend them for doing that. Voicing “regret” that the Minnis administration “did not see the wisdom” in walking away from the ITM/Royal Caribbean offer sooner, Mr Scott branded that deal as “an act of humiliation” where he would “have preferred to resign” rather than agree to the terms the joint venture - called Bahamas Ports Investments - was offering. Michael Scott QC, hailing the Government’s decision to terminate negotiations with the ITM Group/Royal Caribbean joint venture, told Tribune Business that the former Board had “vetted” those bids from among 13 rival offers it had received to acquire Grand Bahama’s so-called ‘anchor’ resort property.ĭeclining to identify the investors and corporate groups involved, he argued that the Government only has to “find one of the four” as the solution to long-standing woes that prompted the Minnis administration into a $150m taxpayer intervention to acquire the Grand Lucayan and then keep it afloat.

Tribune Business Grand Lucayan’s ex-chairman yesterday urged the Davis administration to pick up four “serious” purchase offers for the resort that he left behind as an alternative to “an act of humiliation”.

Backs new Gov’ts decision to exit deal ‘embarrassment’.

Urges Davis administration to ‘consider them carefully’.

Ex-Lucayan chair: We left four ‘serious, vetted’ offers.

October moon by michael scott