GBPA and Government Both Declaring Victory in the Outcome

2026-03-03 - 23:54

& Advertisement Advertisement Advertisement Advertisement Advertisement NASSAU , BAHAMAS – A landmark arbitration decision occurred Tuesday, in a dispute over 357 million dollars that the government says is owed by the Grand Bahama Port Authority. Both sides claimed victory in the dispute that dragged on for months. Our Sasha Lightboure broke down the ruling and reactions. The Grand Bahama Port Authority was first out with their statement Tuesday, saying the Tribunal dismissed the government’s $357 million reimbursement claim, and found government in breach of the Hawksbill Creek agreement. Shortly after, in a news conference, Attorney general Ryan Pinder presented this view. Ryan Pinder K.C. – Attorney General “The key outcome is good news for the people of Grand Bahama, and good news for all Bahamian taxpayers. The tribunal confirmed that the Grand Bahama Port Authority has an ongoing contractual obligation to make annual payments to the government, for the benefit of the Bahamian taxpayer, for the remainder of the term of the Hawksbill Creek Agreement, until 2054. The amount of the payments will be determined through a contractual review mechanism.” The Grand Bahama Port Authority, in its statement said the Tribunal rejected the government’s claim that it owed 357 million dollars. The ruling removes any long-standing uncertainty for Freeport’s future. Pinder claimed victory in this way. Ryan Pinder K.C. – Attorney General “The government has succeeded in establishing a liability by the GBPA to pay money annually to the taxpayer for the remainder of the term of the HCA (until 2054). GBPA’s case that it has the sole right to administer Freeport and to deal with licensing, immigration, customs, utilities, land purchases, development/environmental approvals, was entirely rejected by the Tribunal. The Tribunal also rejected a complaint by the GBPA that the government had wrongfully diverted investment projects from Freeport to other areas of Grand Bahama..”) While the port’s statement, it said the Tribunal upheld a counterclaim by GBPA. It said that the government was found in breach of the Hawksbill Creek Agreement by failing to approve environmental bye laws proposed by GBPA – regulations that would improve health, safety, sanitation and the environment within the port area. According to the port, the Tribunal has directed both parties to make submissions on a damages award to the GBPA, arising from those breaches. Meanwhile A.G. Pinder who claimed victory, looked to next steps as a justification for their original claims. Ryan Pinder K.C. – Attorney General “The government will now work to have the remaining issues resolved as quickly as possible. In practical terms, the annual review process can commence immediately in respect of future years from 2023 onwards. Recovery for earlier years remains subject to further determination and directions from the Tribunal, which the Tribunal has indicated that it is ready and willing to undertake as soon as possible and we will ask them to do so.” Meanwhile the port says “it is a stabilizing moment for Freeport”, and thanked the Tribunal for a “Fair and Just decision.” The government ia also standing firm saying this was a victory for the people of Freeport.