Originally Posted by
YVR Cockroach
Selling assets to the parent for a song perhaps, and leaving outsiders to hold the proverbial bag? I guess if there were outside shareholders in either Genting HK or Crystal, and Genting Bhd held most of the debt, it could always file Chapter 11 as DiP.....
You think such scam could get approved by the court? Really?
At this junction, I think the immediate worry is HOW to get cash to pay off the owed bills to the fuel provider, HOW to get the passengers return home, same for the crew.
All the stuff you come up in theory may or may not be possible but obviously is NOT what the parent company and Crystal currently worry about. You should hop over to cruise critic board to see multiple threads, from those dont know when they could get off the aborted cruises (for example right now the Serenity is stranded in Aruba with nobody in the ship management knows what to do), to those who have tens of thousands of FCC in their bookings, and those even in worse situation, paid for their cruises in cash (passengers from other countries may not have a 5 figures credit lines on their CCs), Good for those who paid with AMEX, that already initiated claims, have received either pending or unconditional credits on their cards...
The thing Crystal worth most is its brand which now is greatly tarnished, It would be a long hard road for it to come out from this, if that is even attempted.