Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Meyer
11.13.26
Pillsbury secured a favorable eight-figure settlement resolving disputed creditor claims in litigation stemming from the Florida liquidation of luxury cruise line Crystal Cruises LLC (“Crystal Cruises”), in the largest assignment for the benefit of creditors proceedings in Florida history. The firm represented Alvarez & Marsal professionals serving as appointed liquidators of Genting Hong Kong Limited and affiliated entities.
The representation involved Genting Hong Kong’s liquidation in Bermuda and the liquidations of Crystal Acquisition Company Limited in the Isle of Man, Star Cruises (HK) Limited in Hong Kong, and Star Cruise Pte Ltd. in Singapore (collectively, the “Genting Entities”).
Following Crystal Cruises’ cessation of operations, the Genting Entities asserted substantial creditor claims—the largest filed against Crystal Cruises’ estate. The assignee, on behalf of Crystal Cruises, challenged those claims in the pending assignment for the benefit of creditors proceeding pending before the Eleventh Judicial Circuit of Florida in Miami-Dade County, arguing that intercompany advances should be recharacterized as equity contributions rather than enforceable debt and asserting additional grounds for disallowance and equitable subordination. Those challenges threatened the Genting Entities’ ability to recover on their multi-million dollar claims.
Pillsbury secured favorable rulings in pretrial motion practice and advanced the dispute through extensive fact and expert discovery, summary judgment briefing, and trial preparation. Just two weeks before a scheduled five-day bench trial, the team negotiated a settlement delivering a substantial eight-figure recovery for the Genting Entities’ liquidation estates.
The Pillsbury team was led by Insolvency & Restructuring partners Dania Slim, Patrick Fitzmaurice and John Pintarelli. Additional team members included Litigation partner Jennifer Altman, senior associates Preston Taylor Edmondson and Roland Reimers, and associate Alana Lyman.