Cruise Operator Genting Hong Kong May File for Liquidation as Funding Dries Up

(Bloomberg) — Genting Hong Kong Ltd. may file for provisional liquidation as soon as Tuesday after it wasn’t able to secure funds to help it stay afloat following an insolvency at its German shipbuilding subsidiary.

The troubled cruise operator plans to file for provisional liquidation with courts in Bermuda unless it receives “credible proposals for a solvent, consensual and inter-conditional restructuring solution,” Genting Hong Kong said in a filing to the Asian financial hub’s exchange. Trading of the company’s shares has also been suspended.