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Old 01-24-2022, 01:02 PM   #1
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Cruise Ship Arrest

TF has had discussions regarding the arrest of a "Ship."

https://gcaptain.com/u-s-marshals-ar...eid=5b70bcca05
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Old 01-24-2022, 01:50 PM   #2
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As Dave Berry would say, "I can't make this stuff up."


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Lim, who owns 76% of Genting Hong Kong, stepped down with effect from Jan. 21, the company said in a stock exchange filing. Au Fook Yew also resigned as deputy CEO and president. Neither man has any disagreement with the board, the company said.
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Old 01-24-2022, 02:43 PM   #3
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As my wife the attorney says, admiralty law is a mysterious separate universe, an entirely alternate reality. (I wonder though, even if they dock the ship outside US jurisdiction, who's going to extend them credit for fuel, wherever they are? Or extend credit for anything else as far as that goes.)
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Old 01-24-2022, 03:07 PM   #4
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Cruise Ship Arrest

Au Fook Yew. Really?
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Old 01-24-2022, 03:26 PM   #5
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Can you believe that ?

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Old 01-24-2022, 04:37 PM   #6
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I believe the Bahamas prioritizes debt obligations differently than the US, so it may have been a strategic move to ensure the mortgage holder gets paid before the vendors in a liquidation of the company.
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Old 01-24-2022, 05:05 PM   #7
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I certainly would not book a trip with them.
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Old 01-25-2022, 11:22 AM   #8
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Having lost 1.7 billion a mere 4.6 million brings them down. The unpaid fuel bill started in 2017 so not all pandemic related.

Sounds more like restructuring plan where shell companies are standing by to bail out at pennies on the dollar. Share holders and creditors will lose and the company in whole or in part will carry on. JMO
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Old 01-25-2022, 11:41 AM   #9
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I'm kind of surprised it happened to a Crystal ship though, given their reputation for being higher-end/more expensive. Looks like they suspended all three ships through May and now they're only still running the river cruises:

https://www.crystalcruises.com/advis...rystal-cruises

We all know the cruise industry has been thrown into a severe crisis by the pandemic but if even the high-end operators are hanging by their fingernails, maybe it's even worse than we think. We're avid cruisers and we live in probably the least-restricted state in the US, but the vax controversy entirely aside, we still won't cruise for quite a while. You listen to the discussions on cautionary measures (masks poolside, "bubble tours" where you're bussed around shore stops like lepers (unclean, unclean!)) -- no thanks, that's no vacation. Wouldn't want to be them lately.
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Old 01-25-2022, 12:01 PM   #10
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Quote:
Originally Posted by kthoennes View Post
As my wife the attorney says, admiralty law is a mysterious separate universe, an entirely alternate reality. (I wonder though, even if they dock the ship outside US jurisdiction, who's going to extend them credit for fuel, wherever they are? Or extend credit for anything else as far as that goes.)
I was an material witness in Admiralty Court under a special master, in New Orleans early in my career. It was a very formal affair. The defendant, a Norwegian Insurance Company representative, actually peed his pants on the witness stand when testifying. Unforgettable.
~A
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Old 01-25-2022, 12:07 PM   #11
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If someone with that name came at me with an "investment opportunity" I would repeat his name to him and politely decline.
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Old 01-25-2022, 12:38 PM   #12
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Au Fook Yew. Really?

One can imagine Mr. Yew in a variety of unfortunate situations.
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Old 01-25-2022, 01:52 PM   #13
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I suspect Mr Yew may have some Yorkshire origins. I was in a supermarket in Yorkshire a couple of years ago looking for some nuts (peanuts) and the checkout could not understand me until - finally - she said: Oh, you want noots!
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Old 01-25-2022, 02:47 PM   #14
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I'll be following this closely. We've cancelled a river cruise with Crystal two years in a row now due to Covid. This year is also not looking too good. Maybe it just wasn't meant to be.
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Old 01-25-2022, 03:05 PM   #15
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Genting has shut down their manufacturing facility for cruise ships and they're proceeding to allow the ships to be foreclosed. They say there is no cross ownership so their resorts and other businesses won't be impacted.

At that point, why would they spend more money they don't have getting it to the US. Just stop and park it and it's flagged in the Bahamas so really the best place for it. Now the courts and a foreclosure and auction will proceed. Meanwhile someone will be appointed to oversee it during the interim. The passengers have been shuttled to the US, but what happens to the crew is likely an ugly story.

A note: Last year Genting Hong Kong Ltd sold its entire stake in Grand Banks Yachts to Genting Bhd chairman Tan Sri Lim Kok Thay. Likely very fortunate for Grand Banks but he's still had them on a cost cutting, cash conserving plan. The sale was for far more than the market value. Once again, it appears he has a strong interest in protecting Grand Banks and all his Malaysian holdings as he is from Malaysia.
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Old 01-25-2022, 03:42 PM   #16
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Oh.... this is simple.....


When someone owns your money, just take the ship. Just repossessand throw up an add on Craigslist.... will sell quick.
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Old 01-25-2022, 04:09 PM   #17
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Oh.... this is simple.....


When someone owns your money, just take the ship. Just repossessand throw up an add on Craigslist.... will sell quick.
Apparently 300 unwilling passengers included!
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Old 01-25-2022, 09:42 PM   #18
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Apparently 300 unwilling passengers included!
I would have loved to have been a fly on the wall on that ship to hear the passengers' reactions. Open your stateroom curtains in the morning -- "Myron, this doesn't look at all like Ft. Lauderdale!"
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Old 01-26-2022, 12:29 AM   #19
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I would have loved to have been a fly on the wall on that ship to hear the passengers' reactions. Open your stateroom curtains in the morning -- "Myron, this doesn't look at all like Ft. Lauderdale!"
Their biggest frustration was only one day prior they'd been told their cruise would be ending early in Miami. They made hotel reservations and travel plans accordingly. Sleep on that and then it's "Surprise" as they were told they'd be stopping in Bimini and delayed a day or two in reaching Miami so they all had to cancel and reschedule plans.

One thing I did read from one passenger was praise of the crew until the end, even though the crew knew they weren't going to be getting paid.
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Old 01-26-2022, 06:41 AM   #20
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I have been at air ports where carriers had to pay CA$H for 50-60,000pounds of fuel.
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