In an address to the Rotary Club of Lucaya in Grand Bahama several weeks ago, Grand Bahama Chamber of Commerce President Gregory Moss claimed the government continues to have a 7.5 percent interest in the Grand Bahama Port Authority (GBPA).

This report has been in circulation for years, and if it is indeed true, then the question that demands an immediate answer is: Why is it that a representative of The Bahamas government is not at the bargaining table protecting the interest of the Bahamian people in discussions related to the sale of the GBPA?

What's more, if this is indeed true, then obviously the Hayward Family and the St. George Estate, which have been locked in a legal battle over whether their ownership percentage in the Port is 50-50 or 75-25, are basing their claim on the false premise that together they own 100 percent of the GBPA.

Simple mathematics will show that if The Bahamas government owns 7.5 percent, then together they can only own 92.5 percent.

Moss clearly seems to know what he was talking about in his address to the Rotarians, pointing out that The Bahamas' 7.5 percent stake in the GBPA is indicated in the GBPA's corporate filings with the Registrar of Companies.

This should not be too difficult to prove. All companies are required to file an annual statement on their corporate status with the Registrar of Companies, and any law clerk - or for that matter, any citizen of The Bahamas - can rightfully go to the Registrar of Companies office on Shirley Street in New Providence and ask to see the corporate file of the GBPA.

Given the amount of money that is being mentioned as having been offered to the principals who claim to own 100 percent of the GBPA for their shares, The Bahamas government has no shortage of lawyers at its disposal who can look into this matter with a view to ensuring that the government is properly compensated for its 7.5 percent shares, if it is discovered that it does own those shares.

Of course, the rumor has been in circulation for years that The Bahamas did in fact own 7.5 percent in the GBPA, but those shares reportedly were sold back to one of the principals of the GBPA.

If such a transaction did take place, however, there must be some record of the money from that sale being turned over to the Treasury.

Moreover, it's against the law to sell government property without the approval of the House of Assembly. So if The Bahamas government did own those shares and they were sold back to one of the principals of the GBPA without the necessary legislative approval, then the sale was clearly an illegal act.

And if there was an exchange of money, and there is no record of those funds having been deposited in the Treasury, then it becomes a criminal act.

At the very least, the Government of The Bahamas should want to find out whether this rumor is true or not. If it is discovered that it is true, then the Bahamian people deserve to know who was responsible for selling those shares and whether or not that sale was legitimate.

A check of the Registrar of Companies records by lawyers from the government is a good starting point in seeking to unravel this mystery.