Last week, Prime Minister Dean Barrow went to Miami to meet with executives of Royal Caribbean Cruise Lines. When he came back, he showed cautious optimism and said he would next meet with Mike Feinstein, the owner of the proposed Stake Bank project to discuss a possible compromise. Well, best information to 7News says that is not going to happen. As might have been expected, Feinstein has refused to relinquish the controlling interests in Stake Bank, and Royal Caribbean appears to have no interest in a minority shareholding. Of course, the situation is complicated, first, by the fact that Feinstein is suing Royal Caribbean and government over the head tax - and, second, by the other, little acknowledged fact that Royal Caribbean's partner in the Fort Street Tourism village, Diamonds International and Feinstein don't want to do business with each other.
So, right now, best information suggests, there is no compromise, no clear way forward, and eventually Government may just have to pick which horse it wants to ride into the future. In the meantime, Feinstein's Stake Bank Bill which was approved by parliament, has not been brought into force, which leaves him at a disadvantage with his creditors.
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