What happens if Storylines goes Bankrupt?
In the unlikely event of a bankruptcy filing, the structure of Storylines as a business entity is designed to protect the vessel and its residences. The two are viewed as independent of one another to prevent any losses in this regard should the company need to liquidate. The vessel is viewed as an asset with funds already allocated for it, so the monies invested by the residents are allocated for the ship, not for the company’s operations, and annual fees will be allocated for ship operations.
Further, in a hypothetical bankruptcy situation, the asset (for example a half constructed ship) would not get sold off (liquidated) in order to distribute payouts…in that case you’d probably get next to nothing. In our case, the ship would still get completed. If Storylines were to go bankrupt, then another firm would buy the brand and the demand/refund guarantees would continue the construction. There may be a delay by a month or two during a changeover, but the yard would still get their money to continue the project and the investors would be ensured that the ship will be delivered. Nothing would change from our residents’ point of view in this hypothetical scenario, even if Storylines as we currently know it was not in the picture.
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