Crystal Insolvency: Liquidation Assignee Appointed, Claims Website

Crystal Serenity

Mark Healy has been appointed as assignee to manage the liquidation of Crystal Cruises.

According to a statement, the company has filed an Assignment for the Benefit of Creditors, an insolvency proceeding governed by Florida Statutes Chapter 727.

The process was initiated in February and also includes the liquidation of two related entities, Crystal AirCruises and Crystal Holdings.

“Our goal is to maximize the recovery of assets and provide a claims process to creditors that allows them to realize the highest potential recovery regardless of the size of their claim,” said Healy.

The assignee is said to be in the process of developing a comprehensive liquidation plan with that aims to maximize the value of assets while minimizing expenses and administrative costs.

Healy and his team are currently establishing a procedure to allow passengers and other creditors to file timely claims.

According to the assignee, depending on how and when passengers paid their deposit, alternative methods may be available to recover their funds.

Those who choose not to pursue the alternative methods or who are denied refunds are also encouraged to file claims, Healy said.

To process claims, the assignee and his team have created a new website. Available at https://crystalcruiseclaims.com/, the page will also be used to provide updates, documents related to the case and answers to frequently asked questions.

“We empathize with passengers making claims and will be in communication with them via the website,” said Healy.

All non-passenger creditors should be receiving a claim form in the mail in the next two to three weeks and all passengers that the company has identified as potential creditors should be receiving an email in the next couple of weeks with a claim form and instructions on how to file a claim, he added.

Once the assets are liquidated, the assignee will seek court approval before Florida 11th Circuit Court Judge Alan Fine to distribute funds to creditors who have submitted claims.

According to Healy, the company appears to have limited assets to marshal due to the fact that Crystal Cruises was responsible for operations only and did not own any of its vessels.

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