Genting’s cruise ship “Global Dream” under construction at MV Werften shipyard in Wismar, Germany, on January 7, 2022. Photo: AP
Genting’s cruise ship “Global Dream” under construction at MV Werften shipyard in Wismar, Germany, on January 7, 2022. Photo: AP

Genting Hong Kong faces demand on US$2.78 billion of debt as the bankruptcy of its MV Werften shipyard in Germany triggers cross default

  • Genting Hong Kong’s MV Werften shipyard in Germany filed for insolvency on Monday as it ran out of cash during the construction of the Global Dream cruise ship
  • A €600 million (US$678 million) bailout by the German government that required Genting putting up 10 per cent of the capital fell through

Genting’s cruise ship “Global Dream” under construction at MV Werften shipyard in Wismar, Germany, on January 7, 2022. Photo: AP
Genting’s cruise ship “Global Dream” under construction at MV Werften shipyard in Wismar, Germany, on January 7, 2022. Photo: AP
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