A United States court has ruled in favor of Genting Americas to dismiss a $600 million complaint case against it linked to its Resorts World Bimini property in the Bahamas.
The ruling in favor of the Genting Malaysia Berhad subsidiary comes after a filing in November of last year to dismiss the case leveled 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.
In a filing with Bursa Malaysia, Genting indicated that the court, on July 1st, ‘granted GAI’s (Genting Americas Inc) motion to dismiss RAV’s Compliant in its current form’.
The group furthered that ‘the Compliant is merely a stakeholders’ dispute, and that RAV’s current allegations are baseless and without merit’.
However, it did indicate that ‘the US Court gave RAV one last opportunity to amend its Complaint before it makes its final decision on whether or not to dismiss the lawsuit’.
RW Bimini is owned and operated by BB Entertainment Ltd (BBE), which GENM indirectly holds a 78 percent interest in via GAI.
