Petersburg port site also helped cut costs. The ship had about 24,000 passengers in July, the highest so far for any month.
Shepard said he was confident the ship's new business plan would be more successful. And the ship closed its operations from the port of St. Two of its shuttles struck bridge barriers at John's Pass at least four times. The 2,200-passenger Ocean Jewel, which anchors in international waters where gambling is permitted, has been plagued by problems since it began operating in October.Ĭustomers have been kept aboard the 450-foot casino ship for hours when bad weather has hampered shuttle access to the ship. The company cannot be sued while it is in bankruptcy. The plan must be accepted by the creditors, bondholders and stockholders and be confirmed by the court. Justice Department appoint at least one committee to represent the interests of creditors and stockholders to help the company develop a plan of reorganization to get out of debt. Under Chapter 11 bankruptcy, representatives from the U.S. 'It's kind of a spiraling effect,' he said.
If the vendors followed through, the ship would have to cease operations for about two weeks until the liens could be resolved, which would lead to a further loss of revenue, Shepard said.
