Crystal Cruises Left Passengers Out $100 Million. Can That Same Debt Win Them Back?

When Genting Hong Kong’s American luxury line Crystal Cruises shutdown suddenly in February last year it left consumers and travel agents out to dry on more than $100 million in bookings. Until then, it had claimed some of the most loyal passengers in the cruise industry; among their draws were free-flowing champagne, famously opulent restaurants such as Nobu, and dedicated butler service.

Now, Crystal Cruises is coming back. Despite the blemish that came with the bankruptcy, the possibility of reclaiming those customers was reason enough for Italian billionaire and shipping magnate Manfredi Lefebvre d’Ovidio to resurrect the name, in partnership with luxury operator A&K Travel Group, which he co-chairs. The re-launch has been in the works for more than half a year.