The bankrupt $3.5 billion Baha Mar mega resort in the Bahamas secured up to $30 million in interim financing yesterday, but it was unclear when construction on the stalled project would resume, Reuters reported yesterday. The resort, bankrolled and built by the Chinese and described on its website as "the world's glamorous, new playground,” is eight to 12 weeks from completion once construction resumes, a lawyer for the resort told a bankruptcy judge. Bankruptcy Judge Kevin Carey approved up to $30 million in interim financing for Baha Mar, one of the biggest commercial construction projects in the Western Hemisphere. Baha Mar's developer, Sarkis Izmirlian, the son of Armenian billionaire Dikran Izmirlian, has agreed to arrange the funding.
