Genting Hong Kong files winding up petition

Genting Hong Kong, whose operations include Dream Cruises, Crystal Cruises and Star Cruises, yesterday filed a petition at the Supreme Court of Bermuda, pursuant to section 163 of the Bermuda Companies Act, for the winding up of the company.

Genting had earlier announced its intention to file for provisional liquidation, citing an “immediate and significant gap in liquidity resources” among other things.

In its filing with the Bermuda Court, the company is seeking the appointment of Edward Simon Middleton and Wing Sze Tiffany Wong and Edward Alexander Niles Whittaker as joint provisional liquidators.

In its stock exchange announcement of the Bermuda filing, the company says “Certain business activities of the Group, including but not limited to the operations of cruise lines by Dream Cruises Holding Limited, shall continue in order to preserve and protect the core assets and maintain the value of the Group; however it is anticipated that majority of the Group’s existing operations will cease to operate.”

Genting Hong Kong’s filing of its winding up petition in Bermuda came just over week after its German shipyard operation, MV Werften, filed for insolvency in Germany.

Read Genting Hong Kong’s stock exchange announcement on the Bermuda filing: