GENOA, Italy -- Festival Cruises could file for bankruptcy in Italy
this week, a spokeswoman for the company said.
At a shareholders meeting held May 24, she said, shareholders
"communicated there was ... no possibility to increase the capital
of the company ... and this means that in the forthcoming days the
directors will decide whether the company should be brought to
court for bankruptcy."
In related news, as of last week, an auction date for the
Mistral, one of Festival's vessels, was pushed back to June 10 from
mid-May, the spokeswoman said; there was no fixed date for the sale
of another Festival vessel, the European Stars.
To contact reporter Rebecca Tobin, send e-mail to [email protected].