Crystal Cruises Creditors Will Need to Wait to Get Paid

Crystal Serenity

How long it will it take for Crystal Cruises’ long creditor list to get paid?

The process usually takes between six to 12 months, but may take more in this case, according to Assignee Mark Healy, who is overseeing claims for everyone from travel agents to booked (future) guests and a number of suppliers.

“The process is usually six top 12 months but in this case, it will most likely take a little longer,” he said.

With ships in the Bahamas, the Endeavor on its way to the UK and four riverboats laid up in Europe, the wind down of Crystal Cruises has turned into an international process with over 30,000 creditors listed on court documents so far.

Creditors have until early June to get their requests in, according to Healy.

Any potential money will distributed through an established process, he said.

“The Assignment for the Benefit of Creditors does have a process as governed under Florida Law Statute 727. The distribution process (splitting the money) has a priority system that will be followed and approved by the Court before any funds get distributed,” he said in an email to Cruise Industry News.

That distribution would be based on the court’s asset sale of Crystal’s assets, which include the brand, passenger list and ships, although Healy said what specific assets Crystal had was still under investigation.

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