A major operator of cruise lines in Asia has begun liquidation due to COVID-19
The operator of cruise lines in Asia Genting Hong Kong has filed a lawsuit related to the process of its liquidation. The lawsuit was filed after the shipbuilding division of this company in Germany went bankrupt.
The court hearing on this claim will take place on January 20 in Bermuda, where Genting Hong Kong is registered. The liquidation process is explained by the fact that since the beginning of the COVID-19 pandemic, the company has suffered hundreds of millions of dollars in losses, writes the South China Morning Post.
However, even after the liquidation, the operator plans to continue working with the Dream Cruise line in order to preserve its core assets.
The company operates the cruise lines Dream Cruises, Cristal Cruises and Star Cruises. Its debt reached $2.78 billion after its shipyard in Germany declared bankruptcy last week.
Since January 18, trading in Genting Hong Kong shares on the Hong Kong Stock Exchange has also been suspended.