A long standing legal dispute between Genting Hong Kong/Star Cruises and Louis Group over the failed sale of the Norwegian Dream has come to an agreement, according to Genting’s earnings report .
A filing from Genting noted a “settlement of US$13.3 million in relation to the non-completion by Louis Plc. of the sale and purchase contract for Norwegian Dream.”
Vessel tracking currently shows the Dream at the Sembawang shipyard. Genting confirmed to Cruise Industry News recently that the ship was there for a "technical drydock", as did Singapore port officials (where it was anchored briefly).
Prior to arriving in Asia in June, the Dream had spent upwards of two years tied up at a shipyard in Greece as legal matters dragged on.
Genting has reclassified the Dream on its books to property, plant and equipment from non-current assets held-for-sale since December 2010.
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