Genting HK in final stage as permanent liquidators appointed
2024-07-06 17:30Genting Hong Kong sailed its last voyage, with the World Dream, last year, ceasing operations on March 2 nd of 2022. The $1 billion, 5,000-passenger ship is currently docked in Singapore with no bids yet received for it. Genting HK's former Global Dream, still under construction, was recently sold to Disney for a fraction of its worth.
How a billionaire's cruise empire imploded in Hong Kong
Sister firm Genting Malaysia Bhd., which operates the country's casino resort, has invested in Genting Hong Kong before, more than two decades ago. It sold its 17% stake for $415 million in 2016.
Genting Hong Kong Limited (Chinese: 雲頂香港有限公司) was a holding company that operated cruise and resort businesses.It was headquartered in Ocean Centre [zh; zh-yue] (海洋中心), Tsim Sha Tsui, Hong Kong and listed on the Hong Kong Stock Exchange (SEHK: 678).It was part of the Genting Group, whose chairman Lim Kok Thay was also the chairman and majority shareholder of Genting ...
Genting Hong Kong files for liquidation amid German lawsuit
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 ...
Genting Hong Kong names liquidators, as US$2.78 billion of debt ...
Genting Hong Kong's winding-up petition and appointment of provisional liquidators will be heard by the Supreme Court of Bermuda at 2.30pm local time on January 20 . Trading in the company's ...
$2.6bn recapitalization for Genting Hong Kong
Genting Hong Kong's creditors have agreed to a holistic US$2.6bn recapitalization that will make the company solvent and provide capital and stability during the COVID-19 recovery. At Dec. 31, Genting HK's liabilities exceeded assets by $3.26bn. Subject to final approval by certain creditors and stakeholders, the restructuring is expected to be ...
Genting Hong Kong Files Bankruptcy to Prevent "Disorderly Liquidation"
Genting Hong Kong's recent financial troubles began in 2020 when the pandemic forced the suspension of global cruise operations and later led to stopping work at MV Werften. The company was able ...
Cruise Operator Genting Hong Kong Files to Wind Up Company
3:46. This article is for subscribers only. Genting Hong Kong Ltd. has filed to wind up the company in one of the biggest stumbles by a cruise operator globally after the pandemic ravaged the ...
Billionaire Lim Kok Thay's Genting HK Files To Wind Up Cash ... - Forbes
Genting Hong Kong posted a net loss of $743 million in the first half of 2021 after incurring a record annual net loss of $1.7 billion at the height of the Covid-19 pandemic in 2020.
A dream becomes a nightmare - no more "Dream Cruises" as Genting Hong ...
Like most cruise companies, Genting HK struggled during the COVID-19 pandemic. While other major cruise operators have resumed sailings as the pandemic restrictions eased, Hong Kong's COVID-zero policy hampered Genting HK's recovery. In August 2020, Genting HK was forced to suspend all payments to creditors in an effort to shore up its ...
Genting Hong Kong faces demand on US$2.78 billion of debt as the ...
Genting Hong Kong reported a US$283.3 million loss in the first half of 2021, in addition to a US$1.72 billion setback in 2020 the global travel and tourism industry came to an abrupt halt because ...
Genting Hong Kong Woes Put Focus on Billionaire Lim's Next Steps
Troubled cruise operator Genting Hong Kong Ltd. has filed to wind up the company, putting the spotlight on what support its lead shareholder Lim Kok Thay may provide.
Genting Hong Kong to be delisted on May 16, says exchange
The Stock Exchange of Hong Kong Ltd has announced on Thursday that with effect from May 16, the listing of the shares of bankrupted Genting Hong Kong Ltd in that bourse will be cancelled. Trading in Genting Hong Kong's shares had been suspended since January 18, 2022. Before its bankruptcy, Genting Hong Kong was as investor in the Resorts ...
Worse Things Happen at Sea? - Genting Hong Kong Limited
Dirk Behnsen, counsel in Dechert's restructuring group and based in Hong Kong contributed an article for the Second Quarter 2022 edition of INSOL World (the quarterly journal of INSOL International, distributed to over 10,000 insolvency, turnaround and restructuring professionals, as well as academics, lenders and judges around the world) regarding his work on Genting Hong Kong Limited.
PDF Genting Hong Kong Limited - HKEXnews
The Company's Creditors' Meeting was held as a physical meeting concurrently at both 14/F, Fairmont House, 8 Cotton Tree Drive, Central, Hong Kong and 3rd Floor, 5 Reid Street, Hamilton HM 11, Bermuda on 18 January 2023 at 9:00 a.m. (Bermuda time) / 9:00. p.m. (Hong Kong time). It was resolved that applications be made to the Bermuda Court to:
Genting sells Crystal Cruises, arrested ships to private equity group
Genting Hong Kong Ltd has sold operating entity Crystal Cruises and two cruise ships under the latter to private equity group Heritage Group, which is led by billionaire Manfredi Lefebvre d'Ovidio under the planned restructuring of Genting Hong Kong, which is facing severe financial difficulties following Covid-19-driven global movement restrictions.
Tragic end to Genting Hong Kong may yet have a fairy tale ending
As a Bermuda court orders the liquidation of Asia's largest cruise operator Genting Hong Kong, rival operators are circulating for valuable scraps. In January the bankruptcy of Genting's German shipyard MV Werften led to creditor's demands for the company's US$2.78bn in debt. At the time the yard was building Global Dream, a luxury ...
Genting Hong Kong finalises restructuring deal with creditors
KUALA LUMPUR (June 29): Genting Hong Kong Ltd has finalised its transaction with relevant financial creditors, partners and stakeholders under the amendment and restatement of the cruise ship operator's financial indebtedness and recapitalisation to execute a fully-funded business plan aligned with the anticipated market recovery as Covid-19 restrictions ease.
Genting Hong Kong Limited (In Liquidation) (Continued into Bermuda with limited liability) (Stock Code: 678) WINDING-UP OF THE COMPANY AND DREAM CRUISES . This announcement is made by Genting Hong Kong Limited (the " Company", and together with its subsidiaries, the " Group") pursuant to Rule 13.09, Rule 13.25 (1) and Rule 13.25(2)
Genting HK shares fall on concerns over default risk
Genting Hong Kong shares plunged 56 per cent after the company's shipyard located in Germany filed for bankruptcy. Genting Hong Kong shares plunged 56 per cent after the company's shipyard located in Germany filed for bankruptcy. Visit myFOCUS to see your saved articles and the topics you follow, and to update your profile. ...
Genting Hong Kong | Company Overview & News - Forbes
Genting Hong Kong. Hong Kong, Hong Kong. From the Editor: Notable and Noteworthy. Genting Hong Kong Ltd. operates as an investment holding company, which engages in the business of cruise and ...
Genting Hong Kong Ltd Stock Price Today - Investing.com
View today's Genting Hong Kong Ltd stock price and latest 0678 news and analysis. Create real-time notifications to follow any changes in the live stock price.
Does Singapore's 5-year deal with Disney Cruise Line mean ship has ...
Disney Adventure has been converted from an unfinished ship, Global Dream, that was being built in Germany in 2022 when its owner Genting Hong Kong went bankrupt and subsequently sold the vessel.
Asia player to acquire South China Sea assets from Canadian major ...
Block 16/25, encompassing 44 square kilometres in 100 meters of water, is located 150 kilometres southeast of Hong Kong. The acquisitions by Genting do not include Cenovus' producing assets in ...
Why Disney's New Cruise Liner May Be Charting The Wrong Course - Forbes
Disney reportedly bought it for just $44 million in 2022 after its previous owner, Hong Kong-based Genting Cruise Lines, fell into administration. At the time, it was set to accommodate up to ...
China offers foreign permanent residents of HK, Macau 5-year visas
The move was announced on the 27th anniversary of Hong Kong's handover to the Chinese from British rule and is one of many steps taken since China reopened its borders post-Covid-19 to woo back ...
Perdagangan satwa liar: Bagaimana perubahan taktik penyelundup ... - BBC
Ketika perdagangan flora dan fauna ilegal masih terus terjadi meskipun telah dilakukan tindakan terkoordinasi secara internasional selama dua dekade, para peneliti memperingatkan bahwa ...