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Potential buyers for the stalled Caroline Bay resort have dropped out of the running, the finance minister said yesterday. It was understood that buyers for the Morgan’s Point development were on track to sign a deal earlier this year. But Curtis Di...

A decision to back the stalled Caroline Bay resort with a $165 million guarantee was defended today by the Leader of the Opposition. Cole Simons, also the One Bermuda Alliance shadow finance minister, said the Morgan’s Point site in the West End, a ...

Joint provisional liquidators have interviewed all the directors of the operating company of the failed Caroline Bay development and are combing through company records as they seek to recoup some of the taxpayers’ money paid out on a $165 million de...

An American investment company has countered a claim that it was willing to provide funds to salvage the failed Caroline Bay development. Craig Christensen, one of the developers behind the project at Morgan’s Point, had urged the Bermuda Government ...

Morgan’s Point developer Craig Christensen has urged the Government to return to the table to hash out a solution to the failed Caroline Bay project and has named an investor willing to lend $250 million to make it happen. Mr Christensen told The Roy...

Has anyone noticed that no one to date has come forward with an economic recovery plan? Please note, we are not saying there have not been any efforts of relief at all, or that there is no attempt to mitigate the Covid-19 effects on the economy, but ...

The recent public comments made by Brian Duperreault, his consultant, Tom Lawrence, and his co-developer, Craig Christensen, are designed to secure the agreement of the Bermuda Government to enter into a deal that is in the developers’ best interests...

Albert Einstein wrote if you keep doing the same thing over and over again and expect a different result, it is the definition of madness. Looking back over the past 30 years, from a high of 11,000, the Bermuda hotel industry has shrunk to about 2,3...

Bermuda is in an economic crisis caused by the Covid-19 pandemic. As a result, and in recognition that this is not the time for business as usual, the Government has called for innovative solutions to revive our economy. First and foremost, we need n...

Insurance titan Brian Duperreault has failed to delay the Government’s legal attempt to take control of the beleaguered Caroline Bay resort, The Royal Gazette can reveal. Lawyers for AIG chief executive tried to convince the Supreme Court on Friday t...

A legal bid to put the assets of the stalled Caroline Bay resort project into the hands of provisional liquidators was launched yesterday, the Government revealed last night. A spokeswoman for the Ministry of Finance said: “The developers acknowledg...

An attempt to claw back $11 million of government cash handed out to construction firms unpaid by the developers of the stalled Caroline Bay resort will be made, the finance minister has vowed. However, contractors said the compensation had not paid ...