Mark Healy was appointed as assignee to manage the liquidation of Crystal Cruises.
Visitors to Crystal Cruises’ website will now find themselves redirected to a claims site.
The site has been set up by Florida-based Michael Moecker & Associates, the insolvency assignee. The URL is crystalcruiseclaims.com
The company filed an assignment for the benefit of creditors, an insolvency proceeding governed by Chapter 727 of the Florida Statutes, United States.
The assignee is in the process of developing a comprehensive liquidation plan with the objective of maximizing the value of the assets and minimizing administrative expenses and costs.
Healy and his team are currently establishing a procedure to allow passengers and other creditors to file claims on time.
According to the assignee, depending on how and when passengers paid their deposit, there may be alternative methods to recover their funds. Healy also encouraged those who choose not to pursue alternative methods or who are denied reimbursements to file claims on a website.
Once the assets are liquidated, the transferee will seek Florida court approval to distribute the funds to creditors who have filed claims. According to Healy, the company appears to have limited assets to marshal due to the fact that Crystal Cruises was only responsible for operations and did not own any of its ships.
The process began in February and also includes the liquidation of two related entities, Crystal AirCruises and Crystal Holdings.
“Our goal is to maximize asset recovery and provide creditors with a claims process that allows them to obtain the greatest recovery potential, regardless of the size of their claim,” Healy stressed.