The history of the Baha Mar resort complex in the Bahamas is a lengthy and confusing affair that, according to the project’s unhappy former owner, hadn’t been fully told until this week, according to a WSJ Pro Bankruptcy commentary. BML Properties Ltd., the developer that lost an $845 million investment when the project collapsed into bankruptcy, sued the Chinese contractor responsible for building the project in New York state court on Tuesday, eight months after its long-awaited opening. The beleaguered resort, a $3.5 billion project that was stalled for more than a year amid a feud between BML, Chinese investors and the Bahamian government, is now being run by Chow Tai Fook Enterprises Ltd., the Hong Kong-based owners of the Rosewood Hotel chain.
