NASSAU, Bahamas, July 13, 2016 /PRNewswire/ -- Granite Ventures Ltd ("Granite") today reported it has appealed The Bahamian Supreme Court's denial of Granite's motion to have pursued the claims filed by Baha Mar Ltd against China State Construction Engineering Corporation ("CSCEC") for non-performance and other wrongdoings by its subsidiary CCA Bahamas with respect to Baha Mar. These valid claims could represent real value to the Baha Mar estate and their realization, in turn, could benefit Baha Mar's unsecured creditors. Granite has proposed that the claims be pursued by the Joint Provisional Liquidators, or, alternatively, by a committee of the unsecured creditors.
Granite has filed its motion of appeal with the Bahamas Court of Appeal.
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SOURCE Granite Ventures Ltd