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Lilla Zuill, the lawyer representing Genting, told the courts in Bermuda that a restructuring would be a “better outcome for creditors than a liquidation”. The court appointed joint provisional liquidators to facilitate and assist the company in developing and proposing a restructuring of the group’s financial indebtedness to continue as a company.
The appointment of the liquidators will be seen as good news by the Genting board of directors: “The board believes that the appointment of provision