Genting HK looks to liquidation as funding dries up

SINGAPORE: Genting Hong Kong Ltd warned it may seek court assistance to safeguard its assets, after failing to secure funding to help it stay afloat following the insolvency of its German shipbuilding subsidiary.

The cruise operator plans to file for provisional liquidation with courts in Bermuda, where its registered office is, unless it receives “credible proposals for a solvent, consensual and inter-conditional restructuring solution,” it said in an exchange filing.