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Singapore: Star Cruises and other Genting Hong Kong subsidiaries undergo voluntary liquidation

19 May 2022

Several notices were published in the Government Gazette on Wednesday (18 May) regarding Singapore-based CruiseGlobal Pte. Ltd., Star Cruise Pte. Ltd., and Star Cruises Singapore Investment Holding Pte. Ltd. which are currently in creditors’ voluntary liquidation.

Extraordinary general meetings were held electronically for Star Cruises Singapore Investment Holding and Star Cruise on Wednesday (11 May) and on Tuesday (10 May) for CruiseGlobal respectively, where the following special resolutions were duly passed: 

  • That the Company cannot by reason of its liabilities continue its business and accordingly, the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act (Act 40 of 2018).
  • That Joshua James Taylor and Chew Ee Ling of Alvarez & Marsal (SE Asia) Pte. Ltd. be appointed as joint and several liquidators of the Company for the purpose of the winding up the affairs and distributing the assets of the Company.

Hong Kong-listed Genting Hong Kong, formerly known as Star Cruises Limited, which underwent financial troubles during the beginning of 2022 is the parent company of CruiseGlobal Pte. Ltd., Star Cruise Pte. Ltd., and Star Cruises Singapore Investment Holding Pte. Ltd.

Lim Kok Thay, the former chairman and CEO of Genting Hong Kong, has established a new cruise company called Resorts World Cruises at Singapore in March 2022.

Related: Singapore: Star Cruises and other Genting Hong Kong subsidiaries to undergo liquidation
Related: Peninsula Petroleum Far East seeks total USD 4.6 million from “Crystal Symphony”, Crystal Cruises, Star Cruises

 

Photo credit: Drew Beamer
Published: 19 May, 2022

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