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'Star Cruises' Operator GENTING HK Expected to Fail Debt Payment, File Winding Up Petition
2022/01/19 09:44
GENTING HK (00678.HK), the operator of "Star Cruises", announced that notwithstanding its efforts and lengthy negotiations with creditors and other stakeholders as of the date of this announcement, no definitive agreements on a solvent, consensual and inter-conditional restructuring solution amongst the various parties has been reached.

As the Company and the Group have no access to any further liquidity under any of Group’s debt documents and the Company’s available cash balances are expected to run out on or around end of January 2022 according to the Company’s cashflow forecast, the Board considers that the Company will imminently be unable to pay its debts as they fall due.

In view of the Group’s financial conditions, on 18 January 2022 (Bermuda time), the Company filed at the Supreme Court of Bermuda a petition for the winding up of the Company.

Trading in the Shares has been suspended with effect from 9:00 a.m. on Tuesday, 18 January 2022 and will remain suspended until further notice.
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