Sky News has learnt that Cruise & Maritime Voyages (CMV) is in talks with VGO Capital Management, a special situations investor with expertise in the shipping industry, about a possible rescue deal
The MCA said last month:"Surveyors found a number of expired and invalid seafarers employment agreements, late payment of wages and crews who had been on board for over 12 months.
At the time, a CMV spokesman was quoted as saying that the regulatory breaches were the consequence of an"unprecedented emerging humanitarian issue". The cruise operator's search for new funding was extended after an earlier deal involving Novalpina Capital, a private equity firm, fell apart when Barclays decided not to offer a state-backed loan to CMV.
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