15-Sep-2010 10:32 AM

Viva Macau officially declared bankrupt

Viva Macau was officially declared bankrupt on 13-Sep-2010, following a creditors' meeting, where it was reportedly decided not to put forward any rescue plan for the company (Macau Business, 14-Sep-2010). The estimated amount of Viva Macau’s debts is still unclear, although media reports have suggested they may exceed USD125 million with a limited amount of assets. More than 160 creditors were represented at the creditors' meeting, accounting for more than 80% of the company’s debts. A total of 1,983 creditors have already been officially acknowledged, including ticket holders.