It was reported over the weekend that Sarkis Izmirlian’s BML Properties Ltd. (BML) won its civil lawsuit against China Construction America (CCA).   The $1.6 billion ruling was handed down by New York Supreme Court Judge Andrew Burrok.  Earlier this year the government announced that a $290 million loan was secured from the China Export-Import Bank to construct a new hospital on New Providence Highway, New Providence.

Minister of Health and Wellness, the Hon. Dr. Michael Darville spoke to reporters on Tuesday about the potential impact of the court ruling on hospital project.  He said, “as you’re aware we are seeking funding via the China Concession Loan Facility, a completely different funding mechanism that was at Baha Mar which was a private entity.”

When as asked if he was concerned about the latest development in the BML versus CCA suit Darville said, “we don’t anticipate a similar situation. Because when you go into a private arrangement it is not the government who goes into the private agreement with the Chinese EX-IM Bank.  This is government to government which means that it’s a completely different situation and we’re working out the mechanisms for this concessional loan and the funding will come by way of the EX-IM Bank, so I want to make that very clear.”

The Minister also gave an update on the progress of the hospital project.  He said, “if you pass the site now you will see a sign up that indicates that we’re coming soon and so things are progressing with the EX-IM Bank for us.”

The new hospital is expected serve as a specialty hospital for women and children.