Independent journal on economy and transport policy
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Genting HK confirmed that it had filed for liquidation
Meyer and Geue (Mecklenburg-Pomerania): it is confirmation that the loan of 78 million euros would not have prevented this development
January 19, 2022
Genting HK has specified that the application is aimed at apply to the Supreme Court of Bermuda for an order that authorises provisional liquidators to facilitate and assist the company in developing and proposing a restructuring of the group's financial indebtedness in such a way as to allow the business continuity in order to reach a compromise or an agreement with creditors.
Commenting yesterday on the communication of Genting HK of the intention to submit on the same day an application for liquidation, the Ministers of Economy and Finance of the Mecklenburg-Pomerania, Reinhard Meyer and Heiko Geue, had stated that 'the Land sees Genting's announcement confirm his skepticism about the fact that, in the situation currently, the EUR 78 million loan would have been sufficient to prevent this development. The problems caused by the pandemic of coronaviruses seem to be greater than the commitment to the loan to the parent company of MV Werften which - they had highlighted the two ministers to confirm the goodness of their decision not to grant the loan - it had been negotiated with a view to ensuring a continuation perspective of the activity. The Land was ready to provide Genting with the loan intended for a different situation and within the framework of a global solution for MV Werften. Now - they had concluded Meyer and Geue - the fact that we turned to the court to protect ourselves from the disbursement of a loan under a scenario of insolvency was also in the interest of taxpayers."
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Genting HK has specified that the application is aimed at apply to the Supreme Court of Bermuda for an order that authorises provisional liquidators to facilitate and assist the company in developing and proposing a restructuring of the group's financial indebtedness in such a way as to allow the business continuity in order to reach a compromise or an agreement with creditors.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
