Genting’s Americas subsidiary files motion to dismiss $600M complaint linked to Bahamas operation

The American subsidiary of Genting Malaysia Berhad (GENM), Genting Americas, has filed a motion to dismiss the $600 million complaint case against it linked to its Resorts World Bimini property in the Bahamas.

According to a Monday filing with the Malaysian bourse, Genting Americas ‘filed a motion to dismiss the Complaint filed by RAV Bahamas Ltd. In the United States District Court, Southern District of Florida’.
RAV Bahamas has claimed some $600 million in damages, alleging fraud by Genting – claiming that its 78-percent-owned subsidiary used its majority ownership to conceal liabilities incurred at other properties and placed on the books of RW Bimini.
Genting had previously fired back, stating ‘these malicious and baseless claims are an attempt by RAV and its principals to extract an exorbitant payment […] and inflict severe reputational damage’.
In its Monday filing with the Malaysian bourse, GENM stated that Genting Americas (GAI) ‘seeks dismissal of the Complaint on multiple grounds, including that this is a shareholder dispute and therefore should be dealt with pursuant to the Shareholders’ Agreement between the shareholders of BB Entertainment Ltd in a forum other than the US Court’.
The group furthers that ‘the claims are time-barred’ and that ‘the Complaint fails to adequately allege facts showing that the required elements for each claim have been met’.

Reiterating its previous statement, the company states that ‘GAI continues to firmly believe that the Complaint is baseless and without merit, and will continue to defend against these claims’.
RW Bimini is owned and operated by BB Entertainment Ltd (BBE), which GENM indirectly holds a 78 percent interest in via GAI.

Fraud Complaint Latest news Genting Americas Court Genting Malaysia Berhad

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