July 14, 2021
Weil advised the Consortium of minority equity investors in Dream Cruises Holding Limited, a large cruise ship operator based in Asia, in connection with the multi-jurisdictional restructuring of the liabilities of Dream Cruises Holding Limited and those of its parent company Genting Hong Kong Limited.
The group-wide restructuring and recapitalization plan, which completed on June 28, 2021 following complex negotiations, resulted in the amendment and extensions of $2.6 billion in debt and the provision of $700 million in new money across the Genting group. The holistic restructuring will provide capital and a stable platform for Dream Cruises to resume sailing and execute its fully funded business plan as the market recovers.
The Weil team in London was led by Restructuring partners Andrew Wilkinson, Gemma Sage and Matt Benson. They were assisted by Restructuring associates Jonathan Woods and Ilaria Olivero; Litigation partner Jamie Maples, counsel Matthew Akers and associates Matthew Gibbon and Milosz Palej; Hong Kong Corporate partner Tim Gardner, counsel Sandy Lin and associate Hongzhen Huang; Hong Kong Banking & Finance counsel Kevin Yao and associate Carolyn Ho. Weil worked with financial advisors Moelis on the deal.