World Dream in Singapore
Dream Cruises’ World Dream was arrested in Singapore on Wednesday by KfW IPEX-Bank, Seatrade Cruise News has confirmed with the bank.
KfW IPEX-Bank isa 100% subsidiary of Germany’s KfW, a creditor of Genting Hong Kong.
Arrest was presaged
The arrest was presaged last week when Dream Cruises said World Dream would cease operation Wednesday on completion of its current sailing, due to ‘mounting creditor pressure which poses an immediate threat to the operation of the vessel.’
Dream Cruises is under the control ofjoint provisional liquidatorsEdward Simon Middleton and Wing Sze Tiffany Wong of Alvarez & Marsal Limited in Hong Kong andEdward Alexander Niles Whittaker of R&H Services Ltd. of Bermuda.
