Genting HK to hold first creditors meeting

Genting Hong Kong will hold the first meeting of creditors of the company, with the creditors and contributories of Dream Cruises, to appoint a permanent liquidator on January 18 and 19.

The announcement was made via a Hong Kong Stock Exchange filing and comes as the most recent step in the winding-up of Genting following its bankruptcy in January of 2022.

Formal notices of the meeting have already been sent to the creditors and contributories of Genting Hong Kong and Dream Cruises in accordance with Bermuda law.

On October 7, the company was ordered to be wound up by the Bermuda Court. This follows the group’s default on $2.77bn in debt following the insolvency of its German shipbuilding unit during the pandemic.

In total, 18 vessels (including two under construction) were involved in the credit-taking action, including the World Dream and Genting Dream. The World Dream was the last remaining cruise ship of Genting Hong Kong to sail, ceasing operations on March 2, 2022.

Source: Asia Gaming Brief