Sarkis Izmirlian & the Baha Mar vs CCA timeline: The billion-dollar battle that nearly upended operations in the Bahamas
The Sarkis Izmirlian and CCA–Baha Mar debacle became a decade-long legal, financial and reputational saga for the Bahamas.
The two entities came to an agreement to settle the multi-billion damages.
Mr Izmirlian, in a statement said: “We are pleased to have put this matter behind us and reached a resolution that meets our expectations.
“The economic impact of Baha Mar will be felt for decades to come, and we remain proud to have been the visionaries behind this landmark development. I want to extend my heartfelt thanks to the people of The Bahamas for their unwavering support and the many letters of encouragement throughout the past decade.”
It is not known how much CCA will pay Izmirlian, but a form of “cash payment” will be paid within 30 days of the federal bankruptcy court approving the settlement deal.
The settlement protects Downtown Nassau resorts and jobs. But, it raises big questions about transparency and foreign contractors.
Here’s a timeline of key events in the China Construction America (CCA) / Baha Mar debacle, capturing how the dispute unfolded and where things stand now after the 2025 settlement.
From Mega-Project to Multi-Billion Dollar Settlement
2011 – The Dream Begins
China Construction America (CCA) is hired as the main contractor for the $3.5B Baha Mar mega-resort on Cable Beach.
May 2014 – Early 2015 – Warning Signs
Deadlines repeatedly missed
Workers were allegedly pulled from the site
Claims of mismanagement and deception
Opening date collapses
June 2015 – Project Implodes
Baha Mar files for bankruptcy protection.
Thousands of jobs are left in limbo.
The largest private investment in Bahamian history fails.
2017 – The Lawsuit
Developer Sarkis Izmirlian (BML Properties) sues CCA for fraud and breach of contract in New York.
October 2024 – Court Shockwaves
A New York jury rules in favour of BML Properties
CCA is ordered to pay over $1.6 BILLION in damages.
Late 2024 – Early 2025 – Pushback & Appeals
CCA calls the ruling “flawed” and appeals
Winding-up petitions threaten CCA-affiliated companies in The Bahamas.
November 13, 2025 – Court Orders Mediation
A U.S. bankruptcy judge forces both sides into settlement talks
Goal: Avoid liquidation of Bahamian resort assets
November 20–23, 2025 – A Deal Is Reached
Both parties sign a confidential settlement
The billion-dollar legal war officially ends
November 26, 2025 – Settlement Announced
All lawsuits withdrawn
Winding-up petitions dropped
CCA keeps ownership of British Colonial & Margaritaville
Operations and jobs protected
