In a filing to the Hong Kong exchange, Genting said the company will "imminently be unable to pay its debts as they fall due," as liquidity dries up.
The embattled cruise operator said it filed the application to wind up the company at the Supreme Court of Bermuda, after the company "exhausted all reasonable efforts to negotiate with the relevant counterparties under its financing arrangements." The Hong Kong skyline from on board the Genting Cruise Lines Genting Dream while berthed in Hong Kong on Wednesday, July 28, 2021.said Wednesday it has filed to wind up the company, as its cash is set to run out by end of January.that it could face potential cross-defaults on financing arrangements worth $2.8 billion, as a result of the insolvency of its German shipbuilding subsidiary MV Werften.
In a filing to the Hong Kong exchange on Wednesday, Genting said the company will "imminently be unable to pay its debts as they fall due," as liquidity dries up. The embattled cruise operator said it filed the application to wind up the company at the Supreme Court of Bermuda, after the company "exhausted all reasonable efforts to negotiate with the relevant counterparties under its financing arrangements."