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Asian genting. Those liquidators would need to develop and propose any kind of restructuring plan for the company's debts and liabilities. Genting Hong Kong says that, despite "lengthy negotiations with creditors and other stakeholders," there's no definitive agreement on a path forward that would keep the company afloat and solvent. The first hearing in Bermuda of the petition is due to take place on Thursday.

The company says its cruises will continue for the time being, "to preserve and protect the core assets" of the group. But the company anticipates that even these, and all existing operations, will soon cease. It's not clear what will happen to its huge ships.

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