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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 ...

The Ministry of Finance has completed the $170 million purchase of Government-guaranteed loans at the stalled Caroline Bay resort, it was announced yesterday. The move means island-based reinsurers Arch Capital Group and Axis Capital Holdings have no...

There is probably no one left in Bermuda who has not heard about Caroline Bay and its dramatic and extremely unfortunate demise. The One Bermuda Alliance has been cast as the villain with former finance minister Bob Richards singled out for particula...

Leaders in every walk of life must make decisions based on the facts available to them at the time. Those decisions invariably require judgment and some effort to predict the future. It requires identifying and balancing risks and rewards, determini...

Dear Sir, Like some Bermudian facsimile of Richard Nixon, Bob Richards’s strident defence of his role and of the debacle that is Caroline Bay is a shocking but familiar defiance of reality. The former Minister of Finance, whose “stock in trade” is h...

“If you do not have a record to run on, then paint your opponent as someone to run from” — Barack Obama, the 44th President of the United States It is so typical of the Progressive Labour Party to try to paint the One Bermuda Alliance in the worst p...

The Government’s payout over the gridlocked Morgan’s Point development will go several million dollars beyond the $165 million government guarantee now being called in by lenders. Curtis Dickinson, the Minister of Finance, revealed yesterday that con...

By all indications, when the Dunkley administration decided to gamble with $165 million in taxpayer’s money, they knew that the Morgan’s Point project was on shaky financial footing. That begs the question; why take such a risky, high-stakes gamble w...

Bob Richards, the former Minister of Finance, stands by the administration’s $165 million guarantee on the Morgan’s Point development. “If I had to do it all over again, I would do it,” Mr Richards said yesterday of the decision, which was formally s...

November 2005: Harvard University graduates present a proposal for a major redevelopment including homes, a hotel and a promenade at the former Naval Annex at Morgan’s Point, Southampton, which was vacated ten years earlier by the Americans. The plan...