On Tuesday, the group and the state of Mecklenburg-Western Pomerania quarreled at an appointment lasting several hours before the Schwerin district court over the disbursement of a 78 million euro (88 million dollar) aid loan to Genting. The court wants to announce its decision next Monday.
Schwerin granted the loan in June 2021 to close a possible later liquidity gap at Genting. When the group applied for the payment in December, however, the state refused, pointing out that Genting had to come to an agreement with the federal government regarding 600 million euros in financing for MV Werften. Genting’s lawyers asserted that the loan had nothing to do with MV Werften, but was granted to the group. In the loan agreement, there was no mention of an agreement with the federal government on the MV Werften as a payment requirement. The question that remained open was to what extent financial gaps at Genting – 476 million euros were named – might play a role in the payout.
