Genting Malaysia has fired back against the US$600m legal action taken against it by its partner in Resorts World Bimini, in the Bahamas, calling the claim ‘baseless’ and that it is ‘nothing more than a shareholder dispute.’
In a filing by Genting Malaysia Berhad on Thursday, the company states that its partner in the venture, RAV Bahamas ‘seeks unsubstantiated damages in excess of $600m, and also requests pre- and post-judgment interest at unspecified rates’.
The company furthers: ‘these malicious and baseless claims are an attempt by RAV and its principals to extract an exorbitant payment from GAI and inflict severe reputational damage upon GAI (Genting Americas)’.
Earlier this week, Genting indicated that it had been informed of the claims against it, which are classified by the courts as ‘fraud.’
Genting operates RW Bimini via BB Entertainment, in which GENM indirectly holds a 78 percent interest via GAI.
Source: Asia Gaming Brief
